Bitcoin’s Appeal Has Not Dimmed.

‘Big Short’ investor Michael Burry Bets Against US Treasury Bonds

Legendary investor and trader who called the 2008 financial crash is betting against Tesla and long-term US Treasury bonds, warning of higher inflation figures on the horizon. Dr. Michael Burry is betting against the US Federal Reserve.

Technically speaking

Bitcoin Assumes Bearish Posture Until Proven Otherwise

Bitcoin closed below the 20-weekly EMA ($44,825), a critical moving average which typically defines bull and bear markets. The technically bearish posture has also been confirmed on the weekly super-trend indicator, lending more confluence to the probability that bitcoin won’t be smashing all time highs for at least a couple of weeks.

Levels to watch

  • Weekly close above $44,825 suggests bull market continuation ($70,000 next).
  • A rejection from this level suggests weekly consolidation between $30,000 and $45,000.
  • A drop below $30,000 suggests a potential move to the 0.786 fib level at $21,600. (This scenario is least likely at the time of publishing)

Has Bitcoin’s appeal dimmed?

The short answer is no, it hasn’t by any means. The United States Federal Reserve recently missed inflation figures despite the trillions of dollars in stimulus checks and corporate handouts. Add to this the jobs count miss and it’s unlikely for the Fed to start tapering any time soon — it would be a politically untenable situation.

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Read More: Are CBDC’s A Threat to Bitcoin?

https://chrisoncrypto.com/blog/f/cbdcs-do-not-threaten-bitcoin
http://www.chrisoncrypto.com/

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Chris on Crypto

Chris on Crypto

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.