📈 The STRANGE BOOM of BITCOIN: it rises exactly when it should FALL
Two surges for opposite reasons. Here’s what’s behind it.
Bitcoin is back to $86,000. This week it touched $85,000 for the first time since January, and in the third quarter it has accumulated a 44% gain. To give you an idea, over the same period gold is up 8.7%, and the S&P 500 and the Nasdaq are up 2% each (CoinDesk).
What’s odd is how it got there. Almost the entire increase is concentrated in two jumps—one in August, driven by fear of inflation, and another in September, right after the Federal Reserve raised interest rates to fight it. Opposite situations, same result. For some, proof that bitcoin has matured. For others, it’s a dead cat bounce—a rise without a foundation that deflates just as quickly as it arrives.
$BTC
Two surges for opposite reasons. Here’s what’s behind it.
Bitcoin is back to $86,000. This week it touched $85,000 for the first time since January, and in the third quarter it has accumulated a 44% gain. To give you an idea, over the same period gold is up 8.7%, and the S&P 500 and the Nasdaq are up 2% each (CoinDesk).
What’s odd is how it got there. Almost the entire increase is concentrated in two jumps—one in August, driven by fear of inflation, and another in September, right after the Federal Reserve raised interest rates to fight it. Opposite situations, same result. For some, proof that bitcoin has matured. For others, it’s a dead cat bounce—a rise without a foundation that deflates just as quickly as it arrives.
$BTC
