This Bitcoin Crash Is A 'Crypto Ice Age' — Don't Fight The Fed
— Monetary conditions, Latest crypto crash, Latest blowups, Front, 8 billion, Fed trying, Nfts, Doubt, Tightening plans, Higher risk — 1 min read
Since Bitcoin's 2009 launch, Bitcoin's price has tumbled more than 50% six times. "It's a crypto ice age," Mizuho analyst Dan Dolev told IBD. "I think this is going to be very deep, very prolonged, and many cryptocurrencies will not survive" The real reason the cryptocurrency market is imploding: Bitcoin and the other roughly 19,000 digital currencies are up against their first Federal Reserve tightening cycle to stem an inflation outbreak. Easy money fueled Bitcoin's peaks and valleys mostly coincides with shifts in Fed asset purchases. The reversal of unprecedented Fed stimulus is deflating most asset values. But when it comes to valuing Bitcoin and other cryptocurrencies, there are no future cash flows to discount the value. Source