BITCOIN LAGGING BEHIND THE EQUITY MARKETS

The thing is on everyone's mind right now is inflation. US CPI inflation data falls down to four percent in May versus the 4.1 percent that was actually anticipated and this is very big news. Inflation is trending solidly downwards and most importantly it's been a big drop. Not only did we beat the anticipated 4.1%, but remember last month it was 4.9%. This is a massive drop in inflation, so right now inflation is well below the interest rates. In the past the Federal Reserve has stopped interest rate hikes and eventually reversed the course when we see the interest rates being above the inflation number.

---

So inflation steadily falling, another month where it fell almost a full percentage Point, 0.9 percent down in a month. We're getting closer back to that two percent Target which can put more pressure on the FED to put on a bit of a break to ease off the gas when it comes to these interest rate hikes that we've been seeing playing out. Right at the moment, we are seeing the market now pricing in a 93.1% chance that Jerome Powell and the Federal Reserve are not going to raise interest rates tomorrow. We're probably going to see the pause come into effect and we're not going to see any more interest rate hikes assuming that inflation doesn't magically start peeking back upwards.

---

If you look at the Bitcoin charts, Bitcoin is just lagging behind the equity markets. We're lagging behind the equity markets right now because of all this crap at the SEC and it's just weighing so heavily on markets. Although, Bitcoin of course is not the recipient of all these actions but the entire your crypto Market is being weighed down by all of these actions from the SEC. So that's definitely something that is spooky markets right now and making Bitcoin perform worse than we are seeing equities perform. There's a lot of people right now who are saying Bitcoin's dead and crypto's dead, we hear it all the time. If you've been around in crypto for a few years now, you've probably heard that old crypto's dead 100 times.

---

This is not the many times the media has declared crypto dead but all the big things that have happened. We have the Mt.Gox bankruptcy, we have all these different hacks, we have the Bitfinex hack that happened, we have China declaring all cryptocurrency transactions illegal and so on yet Bitcoin's still here and crypto's still here. I know crypto is a messy Wild West Market, sometimes there's a lot of crazy crap that happens in this market but we keep moving forward.