A lot of data says Bitcoin is in a buy-zone, but BTC price just keeps falling. horushughes chats with Blockware Solutions’ IIICapital and Luxor Minings’ AsILayHodling about Bitcoin price, mining and the elusive “bottom.”
When Bitcoin was trading above $60,000, the smartest analysts and financial-minded folk told investors that BTC price would never fall below its previous all time high.
So, investors are left to their own devices and thoughts to contemplate whether or not the bottom is in. Should one be patient and wait for the forecast “drop to $10,000” or is now the time to buy Bitcoin and altcoins? “The macro environment is obviously heavily weighing on the price of Bitcoin. High CPI inflation has led to an aggressive Fed since November of 2021. Higher interest rates inevitably cause all assets to come down. Interest rates are basically gravity on financial assets, just basically discounted cash flow analysis. And these increasing interest rates are an attempt to destroy demand and and destroy inflation by the Fed. It's obviously putting pressure on all risk assets, including Bitcoin.
Harper elaborated with, “If these companies do start mining it, then it becomes more palatable. It becomes less stigmatized. Depending on, I guess the oil producer and that person's politics.”
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