Today’s Nuggets
All Eyes on the Fed, Watch out for Stealth Quantitative Easing
Dan Tapiero Predicts $200,000 Bitcoin in this Bull Market
“The ETFs are Selling” is Incorrect
New BTC ETFs Pulling in $440M Daily Over the Last 47 Days
BTC ETF Total Money Flow Down Two Days in a Row
According to the data I look at, the Bitcoin bottom is in. I am human, but data has been extremely good to me over the last couple of years. There are many rumors that the demand for ETFs is waning. However, the data does not support this notion, and I will reveal why the rumors are wrong.
Everyone is always worried about the Fed. When the Fed is set to make a decision, it puts a lid on markets. This FOMC does not tend to surprise to the downside, nor does it reveal all of the truth.
The current FOMC tends to jawbone often and keep a lid on things. In reality, they have facilitated stealth quantitative easing ever since the BTFP program came out. Every day that goes by, the Fed continues paying IORB, RRP, BTFP, etc., facilitating fiscal expansion.
Here is good news out of the United Kingdom. So either the U.K. government is better at cooking the inflation books than the U.S., or they have inflation licked. We shall see. The central banks coordinate with each other, and they also talk about this miraculous unicorn two percent.
Dan Tapiero recently announced a $200,000 Bitcoin price target for this bull market. According to Dan, we are now one-third of the way into this cycle, which I agree with. The future is very bright!
If you look at the volume that IBIT the volume is doing, it is insane.
Look at the bottom row of the chart. It indicates that all of the ETFs, excluding GBTC, bought nearly 10,000 Bitcoin over the last two days. Tthe data says this
Keep reading with a 7-day free trial
Subscribe to InvestAnswers Newsletter to keep reading this post and get 7 days of free access to the full post archives.