Analysts are predicting the Federal Reserve will turn dovish, but timelines for this remain unclear. The Bitcoin Magazine Pro team shares their thoughts.
The FOMC increased interest rates by 0.75 percentage point while indicating ‘unusually large’ hikes may be appropriate in future meetings; Bitcoin’s price jumps.
CPI inflation data reached a 40-year high of 9.1% in June with the largest price increases occurring in the energy sector, seeing fuel and oil rising almost 100%.
Bitcoin’s consistent issuance schedule makes it a consistent asset in times of inconsistent monetary policy. It will outlast any of the Federal Reserve’s plans.
With the Bank of Japan trying yield curve control, negative GDP growth in the United States and cracks showing in the eurozone, bitcoin looks like a smart bet.
The long-standing claim that bitcoin is a hedge against inflation has come to a fork in the road as inflation is soaring, but the bitcoin price is not.
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