Bitcoin is currently trading Below $29,000USD, as economic DEFLATION grips the world, as it costs more money to purchase fewer goods and services – May 28, 2022,

Bitcoin trades 24/7/365 so this post is date specific, whenever I start getting more readers of Bitcoin posts, I usually check the price of Bitcoin, which either rises or falls. I’ve been calling for a declining price of bitcoin for a simple reason, the economy is deflating. Money printing is one thing, government regulations on the economy is something else.

Joe Biden is an idiot, not only is he looking to spend more, but he’s also trying to put more CONSTRAINTS on economic activity. From an economics perspective, Joe Biden is all sorts of stupid and this could spell trouble for Bitcoin. As I like to point out, how do value Bitcoin without fiat dollars? I sure as hell don’t know, Bitcoin has no history outside of the U.s dollar.

Click Here To Make Money Doing Surveys Sign Up Is 100% Free Get Paid With Amazon Gift Cards Advertisers Want Your Opinion and Will Pay You For It DAILY

Now, all types of DIGITAL cash are CONVENIENT, but humans can survive without digital and physical cash, which is why Gold and Silver will have value with or without confidence in the current fiat monetary system. Bitcoin, on the other hand, revolves around the idea that the Fiat monetary system is going to fail SLOWLY and therefore it’s wise to hold onto Bitcoin.

Now, let me be clear, I do see a stimulus package coming in the future, which I think will be good for Bitcoin, but for as long as these Joe Biden regulations are being enforced, money will likely be diverted away from Bitcoin into assets that either provide cashflow or allow people to SURVIVE. You have to remember that “true believers” in Bitcoin aren’t that common, a lot of the people in Bitcoin, bought with the expectation that the price of Bitcoin would go up.

A lot of speculators are in Bitcoin meaning that if they don’t see a return on investment for the foreseeable future, they’re going to take their money out and even take a loss in the process. I’ve jokingly written about the Bitcoin Plunge Protection team, but they can only do so much because a lot of people BORROWED fiat money to purchase bitcoin and the cost of that borrowed money is starting to rise.

Now, sure I expect the cost of money to eventually come back down again, but let’s not forget that people have bills to pay, and just because the cost to borrow comes down, doesn’t mean that consumer price inflation is on the retreat. What I see happening is as interest rates rise, it’s going to become apparent the prices aren’t retreating, which I believe will result in rate hikes becoming interest rates declining.

Click Here To Make Money Doing Surveys Sign Up Is 100% Free Get Paid With Amazon Gift Cards Advertisers Want Your Opinion and Will Pay You For It DAILY

How long it takes for interest rates to decline, is not a question I can answer, what I can say is Bitcoin’s value is reliant on Fiat money, which makes it a speculative asset, similar to any other tech stock. The appeal of it being decentralized does add value, so keep that in mind, if you’re buying or selling.

Interesting times ahead!