Hard Times in Crypto Lead to Price and Macro Risk
— Went, Worlds, Stocks, Ship, Riskon, Lead, Times, View, Vascillation, Struggles, Spell, Bitcoin, Crypto, Risk, Price, Macro, Hard — 1 min read
Stocks went up during Powell’s prepared remarks, and so did bitcoin, which I guess is good. But with inflation proving itself a formidable foe and the possibility of recession looming, keeping a close eye on the Fed is critical. If the world's biggest economy struggles to recover, that could spell doom or opportunity for bitcoin, depending on how you view it. It's important, not only from the angle of assessing if the U.S. can right the ship, but also from crypto's perspective, given bitcoin's vascillation from risk-on to risk-off to neither at a moment's notice, says Mark Wallis. Wallis: Bitcoin's viscillation has been a rock-and-boxer. Source