Bitcoin Dives Under $80K as Solana, Dogecoin and Stocks Fall on Inflation Fears

[Ambatman]

https://www.google.com/amp/s/decrypt.co/309326/bitcoin-dives-80k-solana-dogecoin-stocks-fall%3famp=1

The link above stated that the reason for the dip is as a result of fear of upcoming recession and A user on X Anthony pompliano believes Trump is doing it on purpose to force Powell to cut rate.
https://x.com/APompliano/status/1899154245783359849?t=WvlNBgErD3Tm0bX8wI-IVg&s=19


Now they are doing a battle of attrition without caring about the public.


What are your take on it?

[electronicash]

its what they said on the news too. they have been raising the interest rate for years and now that there are less people even have jobs because of mass layoff and recession seem coming, the fed should just be cutting rates again.

i don't know why Trump has no authority to ask Powell to cut rates while it looks like Biden didn't have to tell Powell to do it.  Powell just have to have the initiative to cut seeing people can't even pay rent.

[TomPluz]

I don't know why Trump has no authority to ask Powell to cut rates while it looks like Biden didn't have to tell Powell to do it.  Powell just have to have the initiative to cut seeing people can't even pay rent.

Actually, in practice Trump has no direct authority to order the Fed Chairman to do and to do that as it is independent but at this time politics is playing some role as we know that Powell was appointed by the previous president and he seems to be loyal to the past and is not showing some interest to come and see eye to eye with the present. And the people affected by every decision of the Fed got no recourse but to endure and just wait for Powell either to resign voluntarily or die while still in office. I am not sure if Powell can be impeached by Congress though this can be taking a lot of time and energy which are needed in other more concerning matters in governing the country and make it robust to avoid the possibility of recession.

 

[JollyGood]

Billions of USD$ are wiped out from crypto markets within hours of policy makers decisions that affect investors. Decisions made in the US have global ramifications but keeping that aside, crypto has always been volatile therefore the price seems to be affected with massive highs and lows depending on whether the news is good or bad.

[yhiaali3]

This reminds me of Goku's fight with Frieza, where they almost destroyed the planet

Apart from joking, yes, a video was released about a theory that Trump is deliberately destroying the stock market with his tariff agenda in an attempt to force the Federal Reserve to lower interest rates. The video described it as Trump's "genius chess move." However, the content of the video was denied and disproven.

I disagree with this theory because, regardless of whether it is true or not, it is a very dangerous move that could cost America and the global economy as a whole dearly and possibly cause its collapse.

[rachael9385]

Based on my opinion I don't have any issues with the price drop this few days because to me it's an opportunity for me to buy more Bitcoin and hold. Although those big investors will be panicked based on the price drop because they have accumulated a lot of Bitcoin over the past few years. But truth be told that even if the price dropped to $50k today (which might be impossible), it will still increase again in the future.

[JollyGood]

Maybe Trump has upset the markets to the degree they will only recover after the next US elections. That is how long it might take.

Whales probably see the situation in different ways because an increase (or decrease) in price reflects on their holdings and causes them to take action. Smaller investors do not have the scope to compete therefore see their financial loss/gain in different terms.

[Mate2237]

Bitcoin is not on the dip but it is just a slide down of movement in the price. And if bitcoin comes down, altcoins drastically reduced in price. Last week when bitcoin hit $74k, Ethereum price was $1,400 and now that the price of Bitcoin is $84+k, Ethereum is $1,584 and Solana is $132.

Many of the investors are waiting for bitcoin to hit $100k again and we don't know that will be possible in this year again but probably early next year.

[JollyGood]

In fairness to the current Bitcoin price, it is around $85,000 and might not fall under $80,000 again for quite some time. As there is volatility anything could happen with prices but it seems the damaging period of the past few months might take time to recover.

[NotATether]

So not really news at all. Coins go down all the time when inflation is about to hit.

That just gives people a reason to be buying more bitcoins at an even cheaper price.

Same for DOGE, Solana, and any other coin that is going down right now.

Inflation is a temporary event that takes coins out from weak hands who sell early and puts them into diamond hands who have no problem holding for the long term.