Toss a coin? Close to just that but the situation is bad:
Inflation announced as hotter-than-expected inflation data fanned fears that the Federal Reserve might take a more aggressive stance on interest rate hikes, potentially tipping the economy into a recession.
The main indexes, however, bounced off session lows as investors looked for signs that inflation had peaked amid a broad retreat in commodity prices, with Brent and U.S. crude now trading below $100 a barrel.
U.S. consumer prices accelerated in June as gasoline and food costs remained elevated, data showed, resulting in the largest annual increase in inflation in 40-1/2 years and cementing the case for the Fed to go big on rate hikes.
It used to be that Inflation was high and Bitcoin would rise..that was the norm
In reality we all saw what we expected today: that BTC would follow the indices which would follow the result.
So, at the end of the day yes: Bitcoin is deflationary, trustless, limited in number and all the good things that we know about it; and yes, it should rise...
but for the time being things look bad and a rejection is most likely.
Personally i prefer it to break higher but that's just my personal opinion.
One Love,
the FXPROFESSOR
ps. Very tricky market today, been a bad day but a trader knows how to handle it. I am short on Ethereum at the moment with money i can afford to speculate with.. off to bed and see you all tomorrow 💙✍️
Inflation announced as hotter-than-expected inflation data fanned fears that the Federal Reserve might take a more aggressive stance on interest rate hikes, potentially tipping the economy into a recession.
The main indexes, however, bounced off session lows as investors looked for signs that inflation had peaked amid a broad retreat in commodity prices, with Brent and U.S. crude now trading below $100 a barrel.
U.S. consumer prices accelerated in June as gasoline and food costs remained elevated, data showed, resulting in the largest annual increase in inflation in 40-1/2 years and cementing the case for the Fed to go big on rate hikes.
It used to be that Inflation was high and Bitcoin would rise..that was the norm
In reality we all saw what we expected today: that BTC would follow the indices which would follow the result.
So, at the end of the day yes: Bitcoin is deflationary, trustless, limited in number and all the good things that we know about it; and yes, it should rise...
but for the time being things look bad and a rejection is most likely.
Personally i prefer it to break higher but that's just my personal opinion.
One Love,
the FXPROFESSOR
ps. Very tricky market today, been a bad day but a trader knows how to handle it. I am short on Ethereum at the moment with money i can afford to speculate with.. off to bed and see you all tomorrow 💙✍️
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🌐FOREX SPECIAL: fxprofessor.com/forex-special 💡💙💬 Public Telegram: www.t.me/fxprofessor88 💎
