The Fed Is Less Dovish Than Expected: The Price of Bitcoin Loses 8% in a Few Hours. Is the Bull Market Over?
Bitcoin Price Update.
Just over two years ago, I explained why Bitcoin should be seen as the solution to the number one problem facing all investors:
Bitcoin Solves the Number One Problem for All Investors.
I keep telling you that Bitcoin should not be seen only as an investment. Indeed, Bitcoin is much more than just another investment. The impacts that Bitcoin will have on the world of the future are far greater than we can imagine today.
Back then, I explained how the markets were at the mercy of the Fed at every FOMC meeting. Every time, it's the same thing. All investors hold their breath waiting for the words that will be uttered by Jerome Powell at the end of an FOMC meeting.
Yesterday, December 18, 2024, it was the same thing all over again, and once again it seems that the majority of Bitcoin market participants don't understand that Bitcoin is here to offer us a playground with rules that are known in advance and that don't depend on the Fed.
As long as you continue to play on the playing field where the Fed's rules reign supreme, you'll continue to be at the Fed's mercy. You will be obliged to follow the adage “Don’t Fight the Fed” to the letter. If you don't, you'll pay the consequences.
For the time being, the Bitcoin market has not yet reached this level of maturity, and we'll see that this largely explains what has happened in the last few hours, with the price of Bitcoin plummeting by over 8%. At the time of writing, the price of Bitcoin is close to $100K again, at $99.9K:
The big question on everyone's mind is whether what happened yesterday alters the Bullish trend Bitcoin has been in for several weeks.
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