TSX:BITF - Post Discussion
Post by
Tradinghands on Oct 19, 2024 11:26am
BITF has had a good rebound...but
I'm not here to bash BITF but I'm not convinced about the Bitcoin rally, I'm old school from the late 50's so I have seen every market rally and crash since then. First, I can't see any country making Bitcoin their new currency because of the large swings as of now the USD only fluctuates pennies not thousands so each country would have to make their own coin and how would the US debt of $34+ Trillion work with the Bitcoin up and down by thousands so I can't see the Bitcoin taking place of USD. Another red flag with Bitcoin is that it's a hacker's paradise and home to fraudulent activity. Bitcoin is rallying on strong US growth and other factors but what if the FED see's inflation heading higher having the FED ending rate cuts or adding points? I'll be convinced of the Bitcoin when its over $74,000. If the 70's repeat the US economy is in trouble.
The Fed Looks Like It Made a Mistake With Its Jumbo Rate Cut (msn.com) The Fed Is Making the Same Mistake That Caused 1970s Stagflation - Business Insider
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