Is Bitcoin bullish or nah? Here is what is really going on with BTC price

Cointelegraph

Published Nov 04, 2022 05:00PM ET

Updated Nov 04, 2022 06:40PM ET

Since March 2022, traders and so-called analysts have been forecasting a policy change or pivot from the United States Federal Reserve.

Apparently, such a move would prove that the Fed’s only available option is to print into oblivion, further diminishing the value of the dollar and enshrining Bitcoin (BTC) as the world’s future reserve asset and ultimate store of value.

BTC price action before and after FOMC events. Source: Jarvis Labs
Bitcoin Yardstick metric. Source: Glassnode and Capriole Investments
BTC 1-week MACD. Source: TradingView

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