The crypto market looks good today with Bitcoin and the rest of the digital assets trading in the green.
At the moment of writing this article, BTC is priced at $9,167.64 and crypto enthusiasts are waiting for the king coin to re-test $10k once again.
Popular BTC whale issues warning
The popular Joe007 Bitcoin whale said that crypto traders are falling for fictional narratives about the crypto and the traditional markets.
In a new Bitfinex Pulse post, he addressed a few potential price catalysts that captured the imagination of various crypto fans – this included the Fed’s intervention in the monetary supply and BTC’s third halving.
“So, you still believe in fairy tales such as ‘FED goes brrrrrr, hyperinflation soon’, ‘Tether printing to buy crypto’, ‘Halvening magically increases price’ and so on? Sorry, I can’t help you then,” Joe007 said.
The Federal Reserve has the fiscal situation under control
He shared a link to an article written by Jeff Snider, the head of global research at Alhambra Investments.
Snider said that the Federal Reserve is on top of the fiscal situation although there are many fears about inflation coming from intensive money printing.
“Powell said Sunday something specific about a digital money printer – and the media went nuts with it, filing story after story. Yet, the strong dollar remains – as do other ‘safe haven’ signals like bond yields and deflation expectations in TIPS [Treasury Inflation-Protected Securities].”
We recommend that you check out the complete post in order to learn more details.
Speaking of BTC warnings, a crypto analyst who warned traders about the 2019 Bitcoin massive correction said that he believes that there’s a similar scenario about to play out now as well.
