BitCoin Today
Bitcoin went as far down as $18,350.00 today, causing panic in the Crypto market. If I am not wrong, this is the lowest Bitcoin has had this year. It has since that low moment climbed to safer values but is still well below $20,000.00, which keeps people on edge,
Now why did this happen? Like always it happens because people stop buying and those who hold start selling, which in itself is a conundrum, because who buys what sellers are selling if no one is buying? I will tell you who buys. It is the people with lots of cash in their pockets and are the ones who instill fear, panic or belief and triumphalism in small investors. These guys cherish the lows and bloat on the highs, money comes easily to them.
But we know that, so why did this happen exactly today? Mainly because of regulatory concerns, governments want to control Crypto, and also we have the rising interest rates to limit inflation, these two actions propelled a fear and anguish reflex in Crypto holders and investors who have decided to sell to the detriment of the price.
I understand the government wanting to control Crypto, you really can't have every day people too much in control of their own lives, it just goes completely contrary to Elite Thinking 101. But the inflation thing I don't believe, we have been fed the theory that the more money is in circulation the more inflation will occur. So what about the trillions printed for COVID aid? How come that didn't produce instant inflation? I think economic theory needs a complete revision.
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