In terms of what we've observed over the previous six months to a year, it appears that bitcoin is associated with risk assets, notably stocks.
When investors see the crypto market rebounding for a few days, they pile back into BTC, ETH and other cryptocurrencies, in my experience. When there are pullbacks, they appear to be hurting bitcoin as well.
Regarding bitcoin as an inflation hedge, many of us felt it would be a terrific inflation hedge that would react similarly to gold and be a safe-haven inflation trade, but I believe it is trading more like a Nasdaq 100 stock than an inflation play.
In the short term, I believe there will be sideways volatility and range-bound price movement, but in the long run, I still anticipate bitcoin to be in the $100,000 level before it drops to zero. I still believe this is a fantastic moment to get in. So I'm taking all of my USDT, BEAN, and other stablecoins and throwing them all in. Let the fun begin!
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