To cryptocurrency true believers, Bitcoin is the ultimate store of value, the most solid hedge against the rampant inflation manufactured by reckless central banks and their money-printing. But it wasn’t until the next big crisis, Covid-19, that the market really took off. Crypto exploded after March 2020, when the Federal Reserve and Congress unleashed trillions of dollars’ worth of stimulus to blunt the pandemic’s economic blow. Since then, though, it’s been on a relentless slide, weighed down in large part by the central bank’s hawkish pivot. “The Federal Reserve’s seemingly perpetual asset purchases have been the cornerstone for crypto investing,” he said.

Source: News 24 January 09, 2022 13:52 UTC