Instead, this site focuses on stocking. If you see system remotely from selecting files and. If you have any questions about there may be but not compatible.

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Vays is currently widely regarded as one of the industry's leading commentators, as evidenced by the fact that his YouTube podcast 'CryptoScam' has over 75K followers. ConsultantVice PresidentOrganizerMarket Analyst Followers : 0 View profile , has put forth his bullish predictions for Bitcoin, stating that the cryptocurrency will see a huge move in the coming days.

In a new video, the analyst in his recent youtube video that bitcoin org bitcoin org Event OrganiserTechnologyPayment solution Followers : 0 View profile technical indicators are currently on a high interval chart and are currently indicating a negative trend. As per the analyst, the weekly chart is not on a good run as, along with the red star candle, the weekly moving candle is completely under all three moving averages.

He feels this is bad because the currency is below the weekly moving average too. Next, Vays talks about the momentum reversal indicator MRI and uses this as an indicator to understand the changes that are seen in the trading pattern. As per Vays, we are likely to see a consolidation phase once again. Rumors of a forthcoming U. Gradual belt-tightening by the U. Federal Reserve may also be contributing to Bitcoin's price drop.

The price of Bitcoin is likely to be increasingly correlated with the prices of other assets. Unidentified sources within the Biden administration said last week that the government is developing a strategy to address the economic, regulatory, and national security challenges posed by Bitcoin and other cryptocurrencies.

The administration is reportedly also examining the opportunities created by the rise of digital assets, with the Biden administration's strategy potentially being made public as soon as February. This likely report from the administration, while welcomed by those who believe that Bitcoin can benefit from greater regulatory certainty, has triggered some traders to sell their Bitcoin holdings.

The price of Bitcoin is also being affected by policy changes by the U. Federal Reserve. In his post-meeting press conference on Jan. While the fed funds rate is being kept near zero for now, developments related to inflation may change that. Keeping elevated inflation levels from becoming "entrenched" remains a key focus for the Fed. Measures enacted by the Fed that are designed to control inflation have had a negative impact on the price of Bitcoin. The values of risky assets—like Bitcoin—tend to decline in the wake of the Federal Reserve making policy changes to become more fiscally conservative.

More broadly, as Bitcoin matures and becomes more widely adopted, the price of Bitcoin is increasingly correlated with the prices of traditional assets like stocks. This growing correlation means that any event that triggers price declines in the traditional markets is likely to trigger similar or greater price declines for Bitcoin.

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The carnage in the crypto market is partly caused by pressure from macroeconomic forces, including spiraling inflation and a succession of Fed rate hikes.

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