Interest Rate Hike Not Necessarily Doom and Gloom for Bitcoin (BTC), Says Analyst Benjamin Cowen – Here’s Why - BitcoinEthereumNews.com
Bitcoinविश्लेषक बेंजामिन कोवेन का कहना है कि ब्याज दर में वृद्धि जरूरी नहीं कि बिटकॉइन (बीटीसी) के लिए कयामत और उदासी हो - यही कारण है कि02 / 28 / 2022बिटकॉइन एथेरियम समाचार Widely followed crypto analyst Benjamin Cowen says that the fears of Bitcoins (BTC) price dipping if the Federal Reserve raises interest rates may be unfounded. In a new strategy session, the analyst tells his 716,000 YouTube subscribers that historical evidence doesnt support the notion that BTC will suffer a price drop if interest rates rise. Cowen points to BTC‘s major peak near the end of 2017 and says that Bitcoin’s value at the time coincided with rising federal interest rates. Bitcoin‘s peak [in 2017] was in December. If we go draw a line at December of 2017, it corresponds to [a period of rising interest rates]. So Bitcoin’s market cycle peak occurred not before they were raising interest rates, not when they decided to stop raising interest rates, not even when [interest rates] first started coming down… In fact, when the interest rates started coming down in July of 2019, that was the local top that Bitcoin hit at $14,000. I think its always important to challenge our assumptions about things and