The answer is that the Fed's latest comments are indicating that they are going to continue to raise rates and attempt to fight inflation, regardless of the stress it puts on the economy. They will attempt to destroy demand to control inflation (which is actually the right thing to do, they just caused the problem to begin with).
Increased rates will reduce capital liquidity for both businesses and individuals. This results in reduced earnings, which results in job losses as well as dropping stock values.
As much as bitcoin is its own thing, it's still correlated to the markets, and as liquidity dries up, people will sell to make ends meet, pay down debt, or just to switch to cash to hedge against expected further market value decline.
>As much as bitcoin is its own thing, it's still correlated to the markets, and as liquidity dries up, people will sell to make ends meet, pay down debt, or just to switch to cash to hedge against expected further market value decline.
I don't pretend to understand it, but it doesn't make sense. Isn't it big players making these big drops and rises? If they treat it as just another thing, vs an alternative, what is the point...
So what makes bitcoin different from a stock? Pardon my ignorance, I know very little about bitcoin.
The whole market always drops towards the end of the month - people have to pay their bills next month. Plus the recession, the stock market dropped about 1,000 points yesterday, inflation, housing market starting to collapse. It's a mix of everything - FUD is widespread.
Why are people bailing on gold/silver instead of piling onto?
Gold is old. Crypto can fit in your pocket with a hard wallet. Plus you can transfer certain cryptos from phone to phone without an internet connection.
Begone boomer no one cares about your worthless obsession.
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