@NickGweezy
Nick G
@NickGweezy · 4:37

Bitcoin Was Never a Currency

And that kind of reflects how much Bitcoin that dollar buys. And having raised interest rates, it changed the mechanism by which the dollar interacts with Bitcoin. The best way to think about this is when Bitcoin was at $67,000, there were plentiful dollars, and they were light and fluffy and hot. And it just blew this balloon up to high heaven. But now the balloon is not only losing temperature, but it's got a huge leak. And now that balloon has shrunk down to 22,000

#cryptocurrency #bitcoin #finance #defi #web3

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