Mark Cuban says 'gold is dead' as Peter Schiff slams bitcoin as 'waste of energy' Called Bitcoin Buyers "stupid people." Thoughts on the market on 04.03. 2021

In the last 24hrs #Bitcoin has consolidated above 50K, reaching a high of $52600. This was followed by a rollback to 50K, then again an increase to 51500 and a rollback to 49100.
At the time of this writing, Bitcoin is worth 49,300. Total Crypto Market capitalization is at $1.518 billion with BTC dominance index of 60.9%.

Stock markets were down again yesterday. Dow Jones Shed 0.39%, Nasdaq Down 2.7%, S&P 500 Down 1.31% To Close At 3819.72 The dollar index rises and again above 91, gold fell by 1700, reaching the level of May 2020, is now trading around 1710, oil shows a slight increase ahead of the OPEC meeting.

The markets are again pressed by the growing yields of US bonds, which, in turn, are growing due to inflationary expectations. These expectations are fully justified. According to Bloomberg, $ 2.9 trillion is in consumer accounts (https://www.bloomberg.com/news/articles/2021-03-03/global-economic-recovery-will-be-driven-by-2-9-trillion-that-consumers-saved) (half in the US). For now, consumers still prefer saving. But, as soon as they begin to curtail the corona psychosis, this money will go to consumption, accelerating inflation. We spoke about this back in August 2020. The Fed is going to face a difficult choice. To react to inflation by raising rates means to crash the markets no worse than in March 2020. Not reacting at all is a big risk for the dollar's status as a world reserve currency. This whole situation is aggravated by the expected 1.9 trillion aid package, which will be considered in the Senate on Friday or Saturday - it is clear that this will increase inflationary expectations.

To our Crypto market review: Bitcoin took 50K, reaching a local high above 52600. After that it pulled back down under the influence of correlation with the falling stock market. More than 20 hours spent above 50K, now back to 49100-49000.

The priority option for today is Bitcoin in the range of 47500-51500. With the fall of the stock market today by 3% or more, we can once again go to 45-46K.

In general, in the medium term, I look forward to the end of the correlation between Bitcoin and the stock market. There is no economic justification for this correlation, and until March 2020 it was practically nonexistent. Moreover, in May-August 2019, the correlation between Bitcoin and the S&P 500 was often inverse (the index falls - Bitcoin rises). I think we will see something similar in the course of 2021.

Interestingly, Peter Schiff, who advocates investing in gold and criticizes Bitcoin, once again called Bitcoin buyers "stupid people." Considering that he said the same thing in March 2020, and Bitcoin has grown 10 times since then, his opinion is not very important to us). This is after Billionaire Mark Cuban joined the gold versus bitcoin debate, siding with crypto as he battled it out with bitcoin critic Peter Schiff on Twitter, saying: "Gold is dead Peter. Move on." Cuban went on: "What we are seeing built w/crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new applications and maybe even something that supersedes what we know as crypto today. But Gold won't ever change. Which is why it will die as a SOV [store of value]."

He reminded Schiff that gold was built on technology as well, and those who were better equipped to extract it benefitted.

Former U.S. Commodity Futures Trading Commission Chairman Christopher Giancarlo has invested in crypto-asset and blockchain investment firm BlockTower Capital. Terms weren’t disclosed. Lasry, the co-founder and chief executive officer of Avenue Capital Group, made an investment independent of his firm, according to people familiar with the matter who weren’t authorized to speak on the record. Both Lasry and Giancarlo confirmed the investments, but declined to comment further.

Conclusion - don't be like Peter, be like Christopher.

Good news, but unfortunately not for us. The US IRS has clarified that investors are not required to report purchases of crypto for fiat until the crypto is sold or exchanged. That is,US citizens can safely build up a portfolio in Bitcoin without having any tax obligations, and pay taxes only on what they withdraw or convert to fiat. I think this clarification will increase the number of Americans wanting to get into the topic.

Wishing you a blessed afternoon ahead and remember this is traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.

Not Just #Bitcoin, #Paypal's Vision Involves Central Bank Digital Currencies Too: What You Need To Know. Thoughts on the market on 05.03. 2021

#Bitcoin tried several times to gain a foothold above 50K, but did not succeed, had no option but to move to a decline. 48K support level having been lost, price broke through to 46400. By the time of writing this review, #Bitcoin is worth 47243. Total Crypto Market capitalization is at $1.451 billion and BTC dominance index of 60.1%.

Stocks were down again yesterday. Dow Jones shed 1.11%, Nasdaq fell 2.11%, S&P 500 fell 1.34% to close at 3768.47. Oil following the OPEC meeting updated its annual high and reached levels where it has not been since December 2019, gold continues to fall and now at 1689.

Market participants were disappointed by Fed Chairman Powell. He acknowledged that economic recovery could lead to a surge in inflation (https://www.cnbc.com/2021/03/04/fed-chairman-powell-says-economic-reopening-could-cause-inflation-to-pick- up-temporarily.html).

It is strange to be surprised by such obvious things. If 22% of all dollars in the world have been added to the economy, which not only did not grow, but even somewhat deflated, it is strange to expect a different result. The "holiday of the printing press" will lead to inflation as evident, the corona psychosis was just beginning.

It's a disappointment not because he stated the obvious facts, but because he did not say anything about the actions of the Fed in the current situation. It is understandable that the rates will not be raised, but investors were for sure waiting for statements about actions on bonds (control of the yield curve, Twist operation, etc.). Since none of this happened, the yield on bonds rose again, and the markets continued to fall.

Against the background of external negativity on the crypto market, an alternative version of yesterday's analysis worked out. #Bitcoin went down from the range of 47500-52000 and set a local minimum just above 46K. Bitcoin again brings out correlation with the stock markets, which, although it has no economic basis, last year had been an objective reality.We talked about it yesterday - I think that this year this correlation will end as unexpectedly as it began a year ago.

What happens to Bitcoin in countries where there is a crisis and inflation. We can talk about the medium-term scenarios for Bitcoin here later today or tomorrow.

Today, the priority option is #Bitcoin movement in the 45000-48000 range. If funds continue to fall, a 43K test is possible. For the transition to growth, it is necessary to consolidate above 48K.

The CEO of PayPal said the company is going to create a "super application" for crypto. It will be interesting. For PayPal, it's still early days, but it may change as users are able to use cryptocurrencies to make purchases and crypto trading is available in more markets. Customers will be able to use crypto to pay for goods at 29 million merchant locations by the end of the first quarter, the company said. We shall expound more on this tomorrow during our Weekly Bitcoin101 at 10am EAT. Plug in to our telegram group. Lastly another interesting thing is that the first reading of the law on virtual assets passed in Ukraine. If it is adopted, which is most likely, it will be possible to legally work with cryptocurrency in Ukraine, with a tax of 5%. This bill was introduced back in Nov, 2019. Here is the comprehensive top 10 list of crypto friendly countries: https://t.me/decryptedge/206

It's been a week filled with events and volatility.. Make sure you join in for our Bitcoin101 live zoom and YouTube session. We shall be talking about the Do's and Don'ts of Crypto and relevant updates within our ecosystem. Wishing you a blessed day ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. #Decryptedge.

Ex-Prudential Securities CEO: Bitcoin ‘Attractive Part of Almost Any Portfolio’. Thoughts on the market on 06.03.2021

#Bitcoin yesterday found support at 46500-46300, moved from these levels to growth, reached highs around 49400 and then moved to a decline. At the time of this writing, Bitcoin is worth 48440. Total Crypto Market capitalization is at $1.444 billion and BTC dominance index of 60.7%

Stock markets, which had been falling all week yesterday after rising on Monday, finally closed with a good plus. The Dow Jones rose 1.85%, the Nasdaq added 1.55%, the S&P 500 rose 1.95% to close at 3841. Oil is close to 70, gold is approaching 1700, the volatility index is decreasing, and this is with the dollar index above 92 (2021 highs). Usually, when the dollar index rises, the markets fall, read about it here (https://t.me/decryptedge/58).

The situation on the crypto market was slightly better than yesterday’s analysis. There were no deep corrections, Bitcoin found support at 46500-46300, and kept it, even when the markets were falling (and they did this all the first half of the day and at the beginning of the American session). Then Bitcoin went up and reached highs around 49400.

There is a retest now of 48000. If #Bitcoin holds this level over the weekend, then we will try 50K again for strength, the first resistance area on this path is 49300-49800. If Bitcoin does not hold 48K, it is likely to go back to 46500.

Do not forget that on the thin weekend market, movements by a couple of thousand points in any direction are possible, from which those who like to put stops and margin/leverage will suffer.

About where and how we are going in the medium term, I will share today.


Altcoins feel confident, the dominance index is 60.7%, with a stable #Bitcoin above 48K, they can show good growth over the weekend and drive the market capitalization above $1.5 trillion. With Bitcoin in the 46500-48000 range, altcoins will grow selectively. Altcoins to the dollar will sooner or later rise (not now, after fixing above 50K), but alts to Bitcoin with such an index of dominance, I would not rise. .

I love this, In an interview yesterday with Yahoo Finance, Wall Street veteran George Ball, the former CEO of Prudential-Bache Securities, suggested cryptocurrencies are a good addition to nearly any investment portfolio. “The investing public right now is worried—and the professional investors are worried—that the Fed is behind the curve,” Ball said. “That the amount of stimulus envisioned is perhaps greater than that which would be helpful over the next year or two to the economy.”

With that let me wish a blessed weekend ahead and stay put for the write up About Bitcoin's mid-term prospects. Remember to always do your own research. This ought not to be taken as traditional investment advice. #decryptedge

About #Bitcoin's mid-term prospects.

I was supposed to post this yesterday, the picture nonetheless has not changed much since morning, #Bitcoin has tested the upper border of the range and is trying to gain a foothold above 48K. If the attempt is successful, then there are chances of continued growth. Most likely expect a return to the previous range more likely.

All these are short-term movements that do not really matter. Much more interesting is the topic of where Bitcoin will go in the next 4-6 weeks.

Option 1.
Movement in a wide range of 43000-55000 with possible spills up to 40K and correction up to 57-58K. Looking at a time frame of 2-3 weeks, then move to new highs. Like it was between 30 and 40K in January. Or between 9000 and 10500 in June-July 2020.

Option 2.
ATH update within 7-10 days, fixing above 55K.

Option 3
Departure of Bitcoin below 43K with consolidation.

In favor of option 2 - the general situation in the economy, the growth of inflationary expectations, the interest of large players - these are the very reasons why Bitcoin now costs almost 10 times more than in March 2020. Everything I talked about with Bitcoin at 11K

Not in favor of option 2 - correlation with the stocks, which, although it has no basis, is an objective reality, and uncertainty about the impact of inflation on the stock market. The prospects for option 2 will improve dramatically if the stocks grow as well. I would say that with the S&P 500 above 3900, Option 2 has virtually no alternatives.

Option 3 is in favor of a possible strong fall in stocks with the continuing correlation between Bitcoin and the S&P 500.

Not in favor of option 3 - the interest of large players. Here are the public companies that bought Bitcoin. By the way, Microstrategy got some more after that, we talked about it during our weekly Bitcoin101. Microstrategy and Tesla have $ 3.5 billion

In the event of a fall in stocks, we will have two options:

Sell ​​Bitcoin in the red, admitting that they are losers, and further collapse their shares.

Or buy more, improving the entry price, and highlight it publicly as much as possible, stating that this is just the beginning. The result is growth of Bitcoin up as well as the stocks. A couple of billions are enough for this, which is not a problem for them at all. Know what awaits at the FED.

Which option do you think they will choose? I am referring here to traditional wall street market players/traders and investors.

Do not forget about the options that were taken below 45K on Monday, and under which the price was pushed down last weekend. They were obviously not taken there in order to sell them at 30K.

With all that said, I think that there may be corrections below 43K. On a thin weekend market and below 40K, it is quite possible to go after the stops of marginals. But I see a consolidation below 43K unlikely. As of writing this #Bitcoin is approaching from the minor support levels at $46K/45K
If Bulls fail to protect it and bears overcome them and break down these levels, the next support will be at $43/40K and you can buy from this zone with a 10% of your capital.

And I consider option 1 as a priority option.

The contradiction between the uncertainty on the stocks, with which the correlation, and the actions of large players who will protect their investments, the powerful February rally, which hints at the need for consolidation, suggests that this option will be the most likely.

I will prioritize them as follows: 1-2-3.
But in case the stocks move to growth next week, option 2 becomes the priority.

This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏. #Decryptedge.

It's done.

Tetragon Lost Case to Reclaim $175 Million Ripple Investment. Market thoughts as of 08.03.2021.

I congratulate all women and ladies on this international women’s day. You are beautifully and wonderfully made. ! On behalf of Decryptedge we wish you health and success in everything! Be bright and blooming, continue to inspire us for new victories and achievements!

#Bitcoin fixed above 50K over the weekend. Local highs above 51800 were reached early this morning. Another retest of 50K took place and at the time of writing this review, #Bitcoin is worth 50930. Total Crypto Market capitalization is at $1.581 billion and BTC dominance index of 59.9%.

Equity markets opened slightly lower but then stabilized. Futures on the S&P 500 are now in a slight minus, Asian indices are trading in different directions, the dollar index is still above 92. Oil took 70, against the backdrop of an attack on Saudi Arabia, before that it was at this level in May 2019. It is alarming that the adoption of the 1.9 trillion bailout package did not generate much market growth. It's a bad sign, because "if you can't beat them, you join them,” perhaps, everything is still ahead.

As indicated Bitcoin is again above 50K, market capitalization is above $1.5 trillion - everything, as stated in the Saturday review. (https://t.me/decryptedge/357). Ethereum is growing steadily and is already above $1700, the dominance index fell below 60%

In the medium term, priority option 1 is from here. Today the range is 48000-52000, with possible attempts to go higher.

Interestingly, the Chinese company Meitu announced the purchase of Bitcoin. Meitu, a Chinese company that makes a photo editing app, bought $22.1 million worth of ether and $17.9 million worth of bitcoin. Meitu follows the likes of Tesla and Square in purchasing bitcoin. But the Chinese appmaker appears to be the first major company to buy ether, a cryptocurrency that works on the Ethereum blockchain. Talk about the spice of diversification. The company said cryptocurrencies provide “diversification to holding cash” and said it could launch blockchain-based apps..
Glassnode, a blockchain data and intelligence provider, said the majority of investors who bought Bitcoin in 2021 did not sell the asset on a decline. The weak hands and panic sellers went to altcoins.
Tetragon Financial Group, which filed a lawsuit to get back its $175 million investment in Ripple Labs, lost its bid as a Delaware court ruled against the UK-based company’s claims.
The investor’s attempt to reclaim part of its $200 million investment in Ripple’s Series C round came with a lawsuit filed in January. Its claims were based on the Securities and Exchange Commission’s allegations over the unregistered security status of XRP. - the court refused to block the assets before the decision on the merits of the claim from the SEC. The CEO of Ripple noted that the United States is the only country where XRP is trying to be recognized as a security, and reiterated that this has no prospects. We are waiting for the denouement.

The Blockchain Association is going to meet with Baden and discuss the creation of favorable conditions for the development of the crypto industry in the United States. The topic of the future distribution of money is causing a healthy stir. This is understandable - they will distribute large amounts of indecency)
And with that and as always wishing you a blessed afternoon ahead. Remember to do your own research. This is not traditional investment or financial advice. #decryptedge

#Norway-Listed Aker to Put 100% #Bitcoin($58.6 million) in Treasury Reserves of New Investment Unit. Thoughts on the market on 09.03.2021

After consolidating around 50K, Bitcoin broke out of the range upwards, consolidated above 52K and updated highs above 54180. At the time of writing this review, Bitcoin is worth 53,840. Total Crypto Market capitalization is now at $1.665 billion with BTC dominance index of 60.3%

Stock markets did not show a uniform trend. The Dow Jones is up 0.97%, the Nasdaq is down 2.41%, the S&P 500 is down 0.54% to close at 3821.35

Tech giants are falling again; Apple and Google lost more than 4%, while Tesla lost almost 6%. Money is moving from growth stocks to value stocks, and tech giants are becoming more and more interesting to buy. $ 1.9 trillion aid package did not particularly impress the markets, since they reacted to it earlier, and before the actual receipt of this money to the recipients, there is still at least a month. Most probably the stock market will show another wave of growth. Only because it has no special alternative but for a crowd confirmation bias.

Bank deposits do not cover inflation, real estate - a high entry threshold. Bitcoin - many have not grown to understand the essence and prospects of the asset. Therefore, a significant part of the aid package will end up on the stock market sooner or later.

By the way, in April 2020, when the US was giving out $ 1,200 as part of a help package, the number of deposits on Coinbase quadrupled. Considering that then Bitcoin was about 7K, and now it is almost 54K, the people who disposed of the money received in this way increased it by almost 8 times. Where do you think they (as well as all those to whom they told about their success) will invest the money received as part of the new package?

Under the terms of the new package, 85% of families will receive payments of $1,400 per person.

The dollar index is still above 92, oil has pulled back below 70, gold at 1685 and attractive for purchases. Bitcoin, after consolidating around 50K, went up from the range above 52K, it has been here for more than 4 hours. A high above 54K was updated, Bitcoin has not been at these levels since February 23rd.

Events are developing within the framework of option 1, which was designated as a priority one (https://t.me/decryptedge/357). In the event of a fall in the dollar index and an increase in the stock market, option 2 will become priority (fixing above 55K). It is very likely that we will see the denouement within 24 hours. There will be a movement towards 54800-55000, the further development of events depends on the reaction to this level. Fixing above 55K will result in ATH updating, an unsuccessful attempt will return to the 55K-52K range with a subsequent repetition.

Interestingly, a large Norwegian company Aker, which is owned by billionaire Kjell Inge Rekka, bought Bitcoin for 58 million dollars. "First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers," Norwegian billionaire Kjell Inge Roekke, chairman and majority owner of Aker, said in a letter to shareholders. Seetee is launching with 500 million Norwegian Krone ($58.3 million) in capital. The new firm has already partnered with Canada’s Blockstream for work on bitcoin mining and sidechain projects. "Bit­coin may still go to zero. But it can also become the core of a new mon­e­tary ar­chi­tec­ture. If so, one bit­coin may be worth mil­lions of dollars," said Roekke. Source | Coindesk. Now that's a smart CEO.

Wishing you a blessed week ahead, remember to always do your own research. This ought not to be taken as traditional investment advice. #decryptedge

Blockchain.com Crypto Wallet Outage Affects ‘Large Number’ of Users. Thoughts on the market on 10.03.2021

#Bitcoin continued to grow, reaching a local high above $55800 a few hours ago. A sell off began from this level, #Bitcoin rolled back to 53400-53300, where it is currently being traded. At the time of this writing, #Bitcoin is worth 53,460. Total Crypto Market capitalization $1.650 billion and BTC dominance index of 60.5%

Stock markets rallied yesterday. Dow Jones added 0.1%, Nasdaq up 3.69%, S&P 500 up 1.42% to close at 3875.44. We talked yesterday about the stock market showing another wave of growth. The trading session resulted in Apple's growth of more than 4%, AMAZON added 3.76% and TESLA rose 19.6%. Perhaps the explosive growth of TESLA is a reaction to information that the US Post will receive 6 billion for the purchase of electric vehicles. I think that this topic will definitely not pass without Elon Musk. Tesla now clearly shows a correlation with the Bitcoin exchange rate. By the way, MicroStrategy also added 14.7% yesterday.

The Senate adopted a 1.9 trillion bailout package, and the House of Representatives is voting today, where the package will be finally adopted. Thereafter, the next topic for growth could be the adoption of the infrastructure package. In the meantime, we are waiting for the growth of deposits https://t.me/decryptedge/364) of $ 1400 on Coinbase.

Bitcoin clearly fulfilled yesterday's analysis- it reached 55K and even went above 55800, although not for long. While the price was pushed back from 55K, Bitcoin found intermediate support around 53,400, I think there will be repeated attempts to take 55K.

Events develop in the framework of option 1 (https://t.me/decryptedge/357). If we manage to gain a foothold above 55K, then option 2 will be in play. The priority option for today is Bitcoin in the range of 52000-55000.

Yesterday users of the Blockchain.com service tensed, because access to wallets was temporarily lost. According to information from the company, the cause was a fire in the data center and access to wallets has now been restored. Everything ended well, but the situation once again reminds us: “Not your keys, not your coins” a saying that gets passed around a lot in this space. What it means is that if you store your crypto assets on an exchange or with any kind of third-party custodian, you have no guarantee of ownership. Your crypto is what's on the hardware wallet. Even the most reliable custodian services will behave with Bitcoin at 100K, no one knows. Don't lead them into temptation, and keep your crypto under your control.

Interestingly, JPMorgan has filed for crypto exposure. Benchmark stocks include MicroStrategy, PayPal, Square. I think in the coming month there will be news about new big companies entering the topic.

This is not financial advice, analysis and market thoughts is to give you an idea about Bitcoin price movement (not buy or sell advice) so before following any idea be sure to do your own research, and follow your risk management. The information we share here is an effort and view from where we sit. It is subject to success or failure and we welcome constructive criticism 🙏. #Decryptedge.

#Uber won’t buy bitcoin with its cash but would consider accepting it as payment, CEO says. Thoughts on the market on 11.03.2021

#Bitcoin continued to grow during the last 24hrs and managed to gain a foothold above 55K and reached a local high of around 57500. At the time of this writing, Bitcoin is worth 55950. Total Crypto Market capitalization is at $1.709billion and BTC dominance index is 61.0%.

Stock markets indices were up yesterday. Dow Jones added 1.46% and updated ATH, Nasdaq dipped slightly (minus 0.04%), S&P 500 rose 0.6% and closed at 3898.81. The yield on American bonds went down yesterday, the dollar index is again below 92, gold is back above 1700 and is now trading at 1729, oil is again approaching 69.

The House of Representatives voted in favor of a 1.9 trillion bailout package, which Biden is due to sign on Friday. A new topic for the market will now be a bill to reduce US dependence on China, providing for large investments in 5G and the production of semiconductors. A new portion of money is possible under this topic. They can also consider and accept an infrastructure package.

#Bitcoin exceeded the plan yesterday, consolidated above 55K and renewed highs above 57500. After that, there was a pullback to 55300 and stabilization around 55800-56300 for several hours. Bitcoin is clearly going to retest 55K. If we hold above, then the actual movement is 55000-57500, followed by an attempt to update the ATH.

If we go below 55K, we return to the previous trading range 55000-52000, and do all of the above a couple of days later.

If we return to the Saturday forecast, then with Bitcoin above 55K, option 1 goes to option 2 (https://t.me/decryptedge/357). In the same analysis, we said that with a growing stock market, option 2 has no alternatives. Option with 55K retention and ATH update in priority.

If we leave for the weekend with Bitcoin above 55K, a local alt season and an update of market capitalization all time highs are very likely.

Interesting: Israel's largest investment house bought shares of Grayscale Bitcoin Trust for 100 million. This is the first time that an Israeli institutional body has acquired a holding with exposure to Bitcoin of this magnitude for its customers. Altshuler Shaham, one of the largest investment entities in Israel, managed NIS 171 billion ($51 Trillion)in assets in long-term savings associates' accounts - provident funds and pension funds as of the end of January

In other news, Uber “quickly dismissed” the idea of buying bitcoin with the cash on its balance sheet, CEO Dara Khosrowshahi told CNBC. “We’re going to keep our cash safe. We’re not in the speculation business,” he said. However, he left open the possibility of Uber eventually accepting cryptocurrencies as payment. We talked about it here(https://t.me/decryptedge/299) Image Courtesy.


Wishing you a blessed afternoon ahead and remember this is not traditional investment advice. Must do your own research. D.Y.O.R. @Decryptedge

Peter Schiff On Bitcoin & Fed of FIAT. Thoughts on the market on 12.03.2021

#Bitcoin held above 55K, continued to grow, reaching its highs above 58280, after which it rolled back to 56700-56600, where it is exchanging as of the time of writing this review. Total Crypto Market capitalization is at $1.729 billion and BTC dominance index at 61.2%

Stock markets rallied yesterday. Dow Jones rose 0.58% and renewed ATH again, S&P 500 did the same, which added 1.04%, Nasdaq rose 2.52% The volatility index fell to 21.91, confidence in further growth is returning to the markets. The dollar index is near 91.5, oil is again approaching 70. A week ago, the markets fell on inflationary expectations, despite all the Fed's assurances that the current monetary policy will continue. Ironically the market is now growing, despite the fact that inflation expectations should only increase with the adoption of the aid package. Why is that?

First, the Fed began to actively buy bonds from the market. This fact, and even the adoption of the aid package without cuts and restrictions, shows that regulators have indeed decided to ignore inflation for now. Secondly, mass investors have no particular alternative to the stock markets.
Bank deposits do not cover inflation, bonds, too, cash loses daily due to the same inflation, real estate - a high entry threshold and low liquidity, not available to everyone.

So crypto remains for those who have the brains and patience to figure it out and decisiveness to take action. At decryptedge we got you covered, this shift can be daunting, we have your back. People have more and more money, and there is nowhere to invest, except crypto. This is evident as the record number of accounts on exchanges opened over the past year (both in Europe and in the United States)have gone up substantially.

#Bitcoin has clearly worked out yesterday's analysis. The break below 55K was quickly redeemed and it returned above this level, moved to growth and reached a high above 58280, short of ATH by less than 200 points. A rollback towards 56K followed and price stabilized around 56500-56600.

Today’s the picture is the same - as long as #Bitcoin is above 55K, the potential remains to update ATH right now. For today, the priority option is price movement in the range of 55000-58000, with a possible renewal of the highs. It is likely that new levels will be taken already in the thin weekend market.

Departure of Bitcoin price below 55K is an alternative option, then we return to the previous range of 55000-52000 for refueling.

If we leave for the weekend with Bitcoin above 55K, we expect a local altseason and an update of the highs.

Interestingly, the son of Peter Schiff (the very one who called Bitcoin a bubble, and its holders are fools) he also had a Bitcoin schooling with Mark Cuban(https://t.me/decryptedge/351), threw all his investments into Bitcoin. In this context he was right, Children at times must go beyond their parents, only then will there be progress. One response to this tweet "Your son seems to understand Money better than you buddy," another person wrote. "Means of exchange is what we decide it is, and we decide that bitcoin is better than and the falling fiat [currencies], as it cant be manipulated, printed out of thin air nor counterfeited."

On that note let me wish you a blessed day and weekend ahead. Stay tuned for our weekly bitcoin101 tomorrow morning at 10am via facebook live and zoom. Remember this is not traditional investment advice. Must do your own research. D.Y.O.R. @Decryptedge