I recently posted about the very high Fed Repo rate (cash injections into the financial system) and the fear of a propped up economy. After the Fed injected $278+ Billion in a very short period of time, analysts are now calling for a "flight to safety" by buying Bitcoin. If the projections and predictions of a coming US and world recession are true, and come to pass, we could see the long talked about sky-high jump in the price of Bitcoin.
While I personally do not find it helpful to be a Bitcoin Bull or any sort of prognosticator in crypto pricing, I do find the alarm bells in the economy to be of particular interest as it relates to the possibility of a Bitcoin price surge. I have seen near term estimates of Bitcoin at $25,000 to $100,000. I find such hyperbole a destabilizing element for crypto in general. The crypto markets will do what they do by Supply and Demand. Either you feel Bitcoin is your personal "safe haven," or you don't.
At any rate, it never hurts to HODL some crypto as a hedge on what might or might not happen in the global economy. CYA- Cover You Assets!
Here is a reference article for this post:
https://www.coindesk.com/what-billions-in-fed-repo-injections-reveal-about-the-promise-of-bitcoin
As always, thank you for your UPVOTE.