Bitcoin holding the line
Bitcoin continues to hold the line it must hold in order for the next leg higher
Bitcoin bounced nicely off the lows, and is holding most of those gains.
We need bitcoin to hold the $36k area in order for the recent move up to keep going, and it looks like it has:
(Source: https://twitter.com/BinanceKiller/status/1403318441075957772/photo/1)
So far so good.
A few more days of this and we likely make a run at $40k-$42k area.
If that happens I am thinking the bottom is in.
Is it? Or is USD that BTC is being valued against inflating?
In the short term it's all technical trading, the inflation is not represented. Over the longer term yes, the dollar is losing purchasing power while bitcoin (hopefully) is preserving it.