WTF is going on with Bitcoin? Why we (probably) shouldn't worry. A non technical look at the #Bitcoin Chart & USD inflation.
The USD and inflation concerns
The USA citizens and Wallstreet Traders are still the largest 'crypto consumers' in the world, by a long way. However the strength of the USD is suffering due to inflation, which is causing many people to sell out of what they deem to be riskier tech stocks.
ā¬ļø With the USA printing a lot of USD to fund their Covid Relief bill & other social relief funds, inflation in the USA is at a high level ā¬ļø
The Buying Power of the USD has dropped almost 5%
Why does this matter? Read this brief explanation from Nasdaq.com ā¬ļø
Hopefully the relief bills help to stimulate the USA economy, which is the intended plan, but only time will tell.
With many countries relaxing their covid restrictions we may see a surge in trade the world over, as 2022 is looking like the year when the Earth returns to some semblance of pre-covid normality.
Some good news š°
We are at the Bitcoin Monthly Support Level ā¬ļø
This would usually be a great buying opportunity as the monthly middle EMA (pink line) is a HUGE support level.
I would advise you to trade carefully though as we are at a precipice with Bitcoin, and global trading markets are still very spooked (by USD inflation + covid + risky tech stocks in general).
$Hive is one of this best performing coins today ā¬ļø
I am converting some HBD to $Hive
as this is a huge support level for Bitcoin and I think $Hive will go up from here, at least over the next few months.
As always I advise you to do your own research & technical analysis (if you have the skills š) ā”ļø Take profits and convert them to stable coin so that IF the Crypto Markets suffer a major crash, you will be able to buy at the bottom and potentially change your life when the Bitcoin Engine fires up again š„
When to sell out for Stable Coin?
If we drop below Bitcoin's support level of $29k and continue to fall, I will start looking at selling out a percentage of my Blockchain assets for stable coin. I will be looking to buy at the bottom.
#Trade wisely, #Game hard. Please buckle up when travelling within the #hivechain š Trade safely on the #hive-engine
THE END
If you would like to join #THGaming and explore the #metaverse with us : our SM links will be at the bottom of this post š
All votes on this post will be converted into Power + #HiveEngine Tokens and used for community building activities (Curating, Staking, HP for reposts) š
@jbtc19warrior @jim-crypto @enginewitty @captainquack22 @dynamicrypto @thgaming @pizza-engine
Official Social Media Links...
š¹ THGaming Discord
šø THGgaming Instagram
š¹ Our new Genesis Coin - #Waxchain Minting - 23 DEC 2021 - 50 of 1000
The Cartel has already started buying ETH...and we will be holding onto it...
Why ETH? because it is used as a currency in the majority of Play 2 Earn Games...
Good Post and well written !1UP
Looks like we both made a good decision yesterday š Markets bounced as predicted ššš»
I keep a chunk in stable coins to wait for sales š
Good man!
You have received a 1UP from @spiritsurge!
@monster-curator, @oneup-curator, @leo-curator, @bee-curatorAnd look, they brought !PIZZA š
Delegate your tribe tokens to our Cartel curation accounts and earn daily rewards. Join the family on Discord.
Thanks OGs š