Unpopular Opinion: US Monetary Policy Is The Dog That Wags The Tail That Is Crypto

avatar
(Edited)

Don't believe me?

Maybe you believe Willy Woo, a popular crypto analyst who has been active on Twitter for years.

image.png

Source: https://cointelegraph.com/news/bitcoin-may-lose-30k-price-level-if-stocks-tank-analysts-warn

There you have it. The DXY, which is the dollar index, is the main enemy of crypto regardless of what fundamentals crypto has going for it at the moment. As I wrote in my previous post, growth in the fundamentals like adoption by nation states and the integration of crypto with real world economic activities can and will change this in the future. I should add that sensitivity to the macro environment has increased with the introduction of large scale institutional investment in crypto.

Trade with caution.

Posted Using LeoFinance Beta

hive-167922 cryptocurrency market price bitcoin monetarypolicy dxy palnet neoxian proofofbrain mancave leofinance
0
0
0.000
2 comments
avatar

I don't see why this is an unpopular opinion

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Perhaps it's just the loudest in crypto but it seems that a lot of people in crypto tend to be of a libertarian persuasion and think the gubmint should f*** off. In reality, this space is intimately tied to the legacy financial system now.

Posted Using LeoFinance Beta

0
0
0.000
Reply