Economist Robin Brooks stated that a special reason should not be sought behind the rise of Bitcoin (BTC), while implying that if the FED falters again, there may be a decline.
Robin Brooks March 25 a social media in your post, explained the behind-the-scenes of Bitcoin rise. The economist said that the recent Bitcoin rise did not happen due to the increasing interest in the cryptocurrency market, The US Federal Reserve (FED) on interest policy more pigeons stressed that it was due to his attitude.
Stating that the crypto money market is not in a unique situation, Brooks said that Bitcoin gained and lost value according to the FED. “another bubble entity” described it as:
Economist, Bitcoin-specific rise in case the FED falcons again balloon implied that it could be extinguished.
Bitcoin is rising, but this rise is not due to any specific reason mentioned by the community defined as HODLER. The reason for the rise is the more dovish policy of the FED. This in turn mobilizes all high beta assets. There is absolutely nothing unique about Bitcoin trading. This is another bubble entity that has been going up and down with the Fed.
CoinGecko data in the last 24 hours 0.6% depreciating Bitcoin, at the time of writing from $27,300 is being traded.