USA INFLATION HAS SURGED TO ITS HIGHEST IN 4 DECADES!

Bitcoin dipped below $29K this morning but at the end of the day, it was back above that morning price closing out at $29,420. It is believed that the price dip came as a result of the release of the minutes of the Federal Reserve meeting held earlier this month.

It’s not really necessary to know and understand every detail about what makes cryptocurrencies rise and/or dip, but the more background information I know, the hungrier I get for more revelation about crypto.

The Chairman of the US Federal Reserve, Jerome Powell said that he understood the hardship inflation was causing and that they were “moving expeditiously to bring it back down.” According to coindesk dot com, “United States inflation has surged to its highest in four decades!” Thank God we are moving strategically to inflate our incomes as well to combat rising inflation.

Those who are trading BTC (me included) are monitoring inflation levels because BTC is seen by many as a hedge against rising consumer prices. Do you remember when back in the day it was GOLD that used to be the hedge against inflation? But now it’s Bitcoin? Hmmmm! I remember reading last Fall where JP Morgan Chase pushed the bitcoin-is-better-than-gold-against-inflation narrative. Gadgets360 dot com said, “Bitcoin is taking the charm off gold. In a note to investors, JP Morgan, the leading American investment banking company, said that Bitcoin is appearing to be a better hedge against inflation than gold.”

For now, at least for this week, lol - Bitcoin remains in bearish mode. We’ve seen during the last 2 months that it has lost value, and some traders and investors are now saying that it is quite possible that we could see a further drop. But we are not moved!😀

I just want us in the know, and we are! Whether it goes up, down, or around the block, WE ARE LED BY THE HOLY SPIRIT and we have His wisdom so we always know what to do!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.