Honestly I have no idea how that happened haha. Just kidding, I do. Keep the printers hot and inflation is normally hot. So the Market went down as the Federal reserve is more likely to not just continue raising interest rates, but perhaps raise them EVEN MORE. So the stock markets went down, it’ll keep cooling the housing market and anything to do with loans etc etc. I’m not an expert, I just happen to be looking for a house, so I follow these things.
I’m not posing any solutions or predictions, but rather a question. With the markets going down, you might expect Bitcoin to follow. AND IT DID… For a bit… But then it went back up. So it made me think. While there are a number of predictions that Bitcoin will go down to $10,000 (or a hair lower), and I generally agree with them due to the recessions expected length, what about people wanting to hedge against inflation?
Now the US Dollar is getting strong and stronger compared to many currencies in the world, making it more attractive to the world as a whole. This might also make imports cheaper. Then factor in lack of job growth, price increases because of general inflation and “global situations”… Where will things go? People are emotional.
All I know is that for now, Bitcoin and crypto in general is low. Recessions last a while. Inflation isn’t under control, which means things aren’t great right now. So I’m continuing to set aside just a little extra money each month to invest a little more. I’m not doing this in excess though. I want to spend at a rate that is sustainable over the next 6 months to a year. Hopefully at some point I’ll have bought at the bottom. If not, I’m not spending money I depend on to live.
We’ll see where it goes. It’s an interesting mix.