Tesla already bought bitcoin in January, what we've been seeing this week is just squeezing every cent possible based on delayed news.
Institutional investors jumped in at 20k-22k area, 100% profit in just a few months is a dream for them and will start cashing out if they don't do that already in small portions.
The exchanges are overwhelmed with new accounts registered and that's correlated with what I've been seeing all around me in the last couple of weeks, the last wave of retail investor (drivers, construction workers, delivery man, personal trainers) caught euphoria from the last bullish news and they want to throw all their savings in.
This is not a financial advice, but personally I think there will be a big recession starting this year and I don't know what will happen with Bitcoin. Might be the safest asset to be hold or not, but on COVID crash it seemed actually very correlated with SP500
I'm pessimistic, made good money on this bull run but I hope this helps you to get out of this hype and think rationally long term.
Institutional investors jumped in at 20k-22k area, 100% profit in just a few months is a dream for them and will start cashing out if they don't do that already in small portions.
The exchanges are overwhelmed with new accounts registered and that's correlated with what I've been seeing all around me in the last couple of weeks, the last wave of retail investor (drivers, construction workers, delivery man, personal trainers) caught euphoria from the last bullish news and they want to throw all their savings in.
This is not a financial advice, but personally I think there will be a big recession starting this year and I don't know what will happen with Bitcoin. Might be the safest asset to be hold or not, but on COVID crash it seemed actually very correlated with SP500
I'm pessimistic, made good money on this bull run but I hope this helps you to get out of this hype and think rationally long term.
The reason for that is the unconventional method used by FED, it was fine and good to use QE in 2008, again in 2020, but like everything in life - if you are making abuse of something the results are starting to become negative.
In a few years there will be studies of how QE is not scalable (with all money they are printing can't even reach their inflation target) - I'm afraid of what we might face this decade.