The FT report today …..
“Bitcoin tumbles back to $30,000 in volatile trading”
From an all time high over the weekend of $35,000 … Is that bad news!? OR reason to avoid crypto$!?
Back in 2017/18 I recall posting in this blog about the (central) banking system and how bitcoin was a child of the 2008 financial crisis.
“Get some” I recall and also that I thought that a price of $11,000/btc seemed about right. (obviously not to be taken as financial advice…..)
Well QE and central banks have done awesomely well in helping us through the Covid-19 crisis …. but the effectiveness of printing money and just handing it out is now stretching bond markets …..
AND, just a touch of civil war in the USA (remember the Fed underpins the global fiat currency market) could produce some serious shockwaves in financial markets …
No wonder peeps are buying BTC … doh…