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FED to remain supportive, Bitcoin to remain bullish by jrcornel

View this thread on: hive.blogpeakd.comecency.com
· @jrcornel ·
$12.66
FED to remain supportive, Bitcoin to remain bullish
# The FED says they will not make the same mistake of exiting too early this time around

Remember 2008-2009? It was the last major financial crisis prior to the ongoing pandemic.

The FED was the major story back then with QE1, QE2, QE3 and eventually QEInfinity.

How does that relate this time around?

Well, it's been going on again during the pandemic the Chairman of the Federal Reserve said they are unlikely to pull the punch bowl away too early this time around:

![image.png](https://images.hive.blog/DQmQajGST53GGtJs7oyVeEM46LhVF7Bq2XPer2iHqvQXJNV/image.png)

(Source: https://twitter.com/Sonnenshein/status/1354514087078719491/photo/1)

They will continue with their asset purchase program and they expect rates to remain low for a long time.

Not wanting to make he same mistake they made last time of stopping these programs prematurely like they did after the financial crisis.

Interestingly enough, the stock market didn't like what Powell had to say today:

![image.png](https://images.hive.blog/DQmS89GbdQLPmUpbwEjQgeWBk2gMFxvJdUPQh6kbU7ztsmk/image.png)

(Source: https://stockcharts.com/h-sc/ui)

With stocks falling another percent or two after Powell starting speaking.

During this same time, bitcoin came well off the lows. Briefly getting down around $29k before spiking to $31.6k currently.

This is interesting because many people thought that bitcoin couldn't go up if stocks went down, I guess for the time being that premise appears to be wrong.

Time will tell if this marked the low for bitcoin.

Stay informed my friends.

-Doc

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jrcornel/fed-to-remain-supportive-bitcoin-to-remain-bullish)
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vote details (338)
@bozz ·
BTC has been doing so much crazy stuff lately, I don't even try to predict it.  Since about this time last year actually.  It has just been a rollercoaster for me trying to figure out what is going to happen.  Lucky for me my stake is small, so it doesn't really impact me too much, but larger holders have to be pulling their hair out over the past year.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@bozz/re-jrcornel-3en7xb)
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@jrcornel ·
I just follow past patterns and they keep playing out in a similar fashion. I'll keep following em until they stop working!
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@coininstant ·
To the moon! 🚀 O.K. this is so e actual good news! Looks like the fed is trying to get in-between me an that 20k! 😂 Maybe, if btc can break the 50 daily ma and hold for 4 hours then I’ll be bullish! I’m just calling the 20k on the fact that this mega downtrend is still in tact!
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@jrcornel ·
$0.08
When do you flip to bullish with me? I've long said the lows would be $28k-$29k and are already in.
👍  
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@coininstant ·
Monday Morning! 😂
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