Bitcoin can’t break free and chart its own course right now.
Its price is objectively determined by the value people assign to it based on the external environment and economic conditions.
Bitcoin is now being heavily influenced by crude oil, with its price movements tied to oil.
Next week, it may follow the Fed’s rate-decision action, influenced by interest rates.
And the week after, it may follow the midterm election action, influenced by sudden events during the campaign—for example, Trump continuing to use crypto to raise funds and attract complaints, or Democrats reporting Trump for stirring up trouble.
That’s just how Bitcoin is: impossible to define, yet defined by outside forces. That’s both the advantage and the downside of decentralization.
Right now, oil is down and Bitcoin is up.
Bitcoin is up and oil is down.
This kind of opportunity only lasts through this week. Get moving—if you don’t act now, it’ll be gone.
Its price is objectively determined by the value people assign to it based on the external environment and economic conditions.
Bitcoin is now being heavily influenced by crude oil, with its price movements tied to oil.
Next week, it may follow the Fed’s rate-decision action, influenced by interest rates.
And the week after, it may follow the midterm election action, influenced by sudden events during the campaign—for example, Trump continuing to use crypto to raise funds and attract complaints, or Democrats reporting Trump for stirring up trouble.
That’s just how Bitcoin is: impossible to define, yet defined by outside forces. That’s both the advantage and the downside of decentralization.
Right now, oil is down and Bitcoin is up.
Bitcoin is up and oil is down.
This kind of opportunity only lasts through this week. Get moving—if you don’t act now, it’ll be gone.