Bitcoin has surpassed $15k for the first time since January 2018
theblockcrypto.com
Bitcoin has surpassed $15k for the first time since January 2018
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Re: Bitcoin has surpassed $15k for the first time since January 2018
#2Bitcoin and Fed Balance Sheet are pretty well correlated.
Re: Bitcoin has surpassed $15k for the first time since January 2018
#3Bitcoin and Fed Balance Sheet are pretty well correlated.
What's the Pearson correlation coefficient?
Re: Bitcoin has surpassed $15k for the first time since January 2018
#4Bitcoin and Fed Balance Sheet are pretty well correlated.
I think that's what bitcoin maximalists want to believe, but surely not true.
Re: Bitcoin has surpassed $15k for the first time since January 2018
#5Bitcoin and Fed Balance Sheet are pretty well correlated.
It's the anticipation of more monetary action...the Fed Balance Sheet peaked in June but yes has been rising slowly lately.
Assets have been rallying across the board after Biden looked like he was going to win. The theory is that because it appears the Republicans will still hold on to the Senate, the government will effectively be gridlocked and the Fed will have no choice but to increase asset buying in absence of big fiscal stimulus.
You can see that in rates crashing Tuesday/Wednesday after rising in anticipation of a "Blue Wave" that never happened and risk assets increasing across the board.
Re: Bitcoin has surpassed $15k for the first time since January 2018
#6It's interesting to see what HN said about things in the past. Here is a post from December 2018 during an extended bear market https://news.ycombinator.com/item?id=18640755
Re: Bitcoin has surpassed $15k for the first time since January 2018
#7Re: Bitcoin has surpassed $15k for the first time since January 2018
#8Re: Bitcoin has surpassed $15k for the first time since January 2018
#9Bitcoin and Fed Balance Sheet are pretty well correlated.
I think that's what bitcoin maximalists want to believe, but surely not true.
The total market cap of all crypto assets is less than the market cap of Tesla right now.
If they are remotely right that bitcoin is a liquid inflation protected asset then the demand for such an asset should increase in a world of more and more QE from central banks.