The Bears Come Back Strong Against the Bulls. What’s Next for the Bitcoin Price?

Some musings.

Feb 23, 2023

∙ Paid

January 2023 was a particularly Bullish month for the price of Bitcoin. The price of Bitcoin rose by almost 40%, the most for January since 2013.

Everyone was then waiting for the first Fed FOMC Meeting of 2023 to find out in which direction the market would go. Jerome Powell's announcements on February 1, 2023, only half met investors' expectations.

A new rate hike was announced, but “only” by 25 basis points. Nevertheless, the Fed's rate hike trajectory for almost a year is the fastest in history:

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