Worst inflation in 40 years

We’re going through the worst inflation in 40 years. The pressure is high now politically and we’re teetering on the government possibly taking drastic action in the next few months to reverse course on inflation, because this is an election year and Biden has to look good by November.

If the deflationary actions are taken by the government, and interest rates are raised, that will slow down inflation. But what will that do to Bitcoin?

Sure, we can look at historical charts of Bitcoin and try to map that to interest rates. Look for some correlation or pattern there. But how accurate would that be if the current situation is much different than in 2017/2018? Different for Bitcoin since Bitcoin is much more known now, different for the world since it’s going through a pandemic.

What will happen to Bitcoin this year, in light of the worst inflation in a generation?