Seems bitcoin is demand dependent... if US goes into recession, who will have money to buy it seems to be response. It's not a store of value so far and if sentiment changes on US economy so goes bitcoin. too early to tell just thinking out loud.
I agree. At the very least I would expect them to hedge the declining dollar and or the nominal price will rise as dollar falls not that people would be buying but...
Yes, dollar down, 10-year down, metals up, bitcoin comatose...
https://www.tradingview.com/chart/BTCUSD/bThnVqUK-BTC-USD-Bitcoin-respecting-primary-downtrend/
Seems bitcoin is demand dependent... if US goes into recession, who will have money to buy it seems to be response. It's not a store of value so far and if sentiment changes on US economy so goes bitcoin. too early to tell just thinking out loud.
I've been wondering that about metals too. Who is going to buy my $50 silver and with what?
I agree. At the very least I would expect them to hedge the declining dollar and or the nominal price will rise as dollar falls not that people would be buying but...