Wednesday, March 3, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

The Fed Is Bitcoin’s Best Friend

10 months ago
in Market
3 min read
The Fed Is Bitcoin’s Best Friend
Share on FacebookShare on Twitter


Bitcoin Symbol With Financial Chart Over Dark Background

Getty

It is nothing new in equities to watch an index rise towards a round number and fall back when it touches it, but for a new generation of crypto hodlers it’s a new experience.

There are always reasons given, ones that are plausible but not inclusive.

Related articles

Bitcoin price bounces back above $50,000 as prominent investor predicts it could

Bitcoin price bounces back above $50,000 as prominent investor predicts it could

March 3, 2021
Himegami is Revolutionizing  the Cryptocurrency Market with a Decentralized Elastic

Himegami is Revolutionizing the Cryptocurrency Market with a Decentralized Elastic

March 3, 2021
The Bitcoin price seems reluctant to go over $10,000

The Bitcoin price seems reluctant to go over $10,000

Credit: ADVFN

Classically the explanation is that there are sellers at, in this case, $10,000, who dump when the price gets close. Sounds likely. The more sophisticated version is that there are people who bought at $10,000 who then saw the price fall hard and that have been holding until the price gets back there, then sell. That is very stupid trading behavior, but I have heard real people say as such, so it is a factor.

However, mathematically, to break any level never to return on a skewed random walk, the chances of a clean break are about 1 in 5, more or less depending on the underlying trend buried in the random noise. That is to say, if there is a small directional trend inside a big wobbling market (hello bitcoin) the price will bash around any arbitrary level many times before it never revisits that level again. This doesn’t require the behavior of novice investors behaving strangely or any other theory or conspiracy to make a price appear to approach a level and then fall back. Obviously, we can roll human factors into that theory without them clashing. We can also spout on about support and resistance and again it might be a real factor or simply false pattern detection by our pattern seeking brains.

Charts are not generally good predictors of the future and work best in crazy times when the markets lose their normally overwhelmingly random fluctuations.  

I use charts to help me see where an instrument has been and gauge its temperament. I draw few lines and keep it incredibly simple. Charts are prefect predictors of the past and that has some value because it gives context.

The only question remains, which way is the market going? So looking at the chart that’s what we should ask, which way is the market going?

Which way is the Bitcoin price going?

Which way is the Bitcoin price going?

Credit: ADVFN

With the halvening behind the bitcoin (BTC) investor, the price should soon be through $10,000. The Federal Reserve have said it will do whatever it takes while encouraging the government to spend like a sailor.

That’s dole for the masses in floods of dollars. So what currency should you hold, when Europe is printing and Japan is printing and China is printing, and on and on. Couple that with what looks like international coordination to competitively devalue and its hard to think of a place to get out of the way of all this monetary easing.

Which is why I have as much bitcoin as sensible diversification allows.

——

Clem Chambers is the CEO of private investors website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide.

Chambers won Journalist of…



Read more:The Fed Is Bitcoin’s Best Friend

Tags: Bitcoinbitcoin news todaybitcoinsCryptoFedFederal ReserveFriend

Related Posts

Bitcoin price bounces back above $50,000 as prominent investor predicts it could

Bitcoin price bounces back above $50,000 as prominent investor predicts it could

by Bitcoin Market
March 3, 2021
0

The price of bitcoin has returned above $50,000 as it recovers from one of the most severe dips in...

Himegami is Revolutionizing  the Cryptocurrency Market with a Decentralized Elastic

Himegami is Revolutionizing the Cryptocurrency Market with a Decentralized Elastic

by Bitcoin Market
March 3, 2021
0

Harju County, Estonia, March 02, 2021 (GLOBE NEWSWIRE) -- As the cryptocurrency market continues to mature, crypto projects also...

Bitcoin volatility rocks market for graphics cards in China

Bitcoin volatility rocks market for graphics cards in China

by Bitcoin Market
March 2, 2021
0

Bitcoin volatility rocks market for graphics cards in China South China Morning Post Read more:Bitcoin volatility rocks market...

Bitcoin is at a ‘tipping point’ between mainstream boom and speculative implosion.

Bitcoin is at a ‘tipping point’ between mainstream boom and speculative implosion.

by Bitcoin Market
March 2, 2021
0

U.S. stocks have started the week in strong fashion, as bond yields eased from last week’s highs early on...

Bitcoin rises 6% as risk assets rally; Citi says at a “tipping point”

Bitcoin rises 6% as risk assets rally; Citi says at a “tipping point”

by Bitcoin Market
March 1, 2021
0

LONDON (Reuters) - Bitcoin rose nearly 6% on Monday as risk assets rallied after last week’s bond rout cooled,...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
How to Buy Bitcoin at an 80% Premium From Michael Saylor – CoinDesk

How to Buy Bitcoin at an 80% Premium From Michael Saylor – CoinDesk

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
How to Buy Bitcoin at an 80% Premium From Michael Saylor – CoinDesk

How to Buy Bitcoin at an 80% Premium From Michael Saylor – CoinDesk

March 3, 2021
Argo Blockchain cranks up production in February

Argo Blockchain cranks up production in February

March 3, 2021
https://www.wraltechwire.com/Bitcoin vs. gold: Is cryptocurrency or a mineral a

https://www.wraltechwire.com/Bitcoin vs. gold: Is cryptocurrency or a mineral a

March 3, 2021
India’s largest crypto exchange crossed $2 billion in trading volumes in Feb

India’s largest crypto exchange crossed $2 billion in trading volumes in Feb

March 3, 2021
Bitcoin price bounces back above $50,000 as prominent investor predicts it could

Bitcoin price bounces back above $50,000 as prominent investor predicts it could

March 3, 2021
Bitcoin Retakes $50K, a Key Level for a Bull Revival – CoinDesk

Bitcoin Retakes $50K, a Key Level for a Bull Revival – CoinDesk

March 3, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$50,766.004.60%
  • bitcoin-cashBitcoin Cash(BCH)$526.981.81%
  • binance-coinBinance Coin(BNB)$242.810.740%
  • bitcoin-goldBitcoin Gold(BTG)$28.335.39%
  • bitcoin-privateBitcoin Private(BTCP)$0.587-6.95%
  • blocktixBlocktix(TIX)$0.0200.00%