Crypto markets are back up baaaby! (At least for now)...but why?
It's time again for our bi-weekly(ish) check in with the crypto markets.
Specifically, with Ethereum, Bitcoin and Solana.
Bitcoin shot up 4% in 24hrs, breaking the $20K mark.
Ethereum politely asked BTC to hold its beer, moving up 10% since Monday (and at one point cracking $1,500).
While, Solana said "aaaw, that's cute" - and moved itself up 11% in a similar time frame.
So, that's nice. But why is this happening?
You know how everyone is worried about inflation right now, and the Federal Reserve been raising interest rates like crazy, in an attempt to slow it down?
Well, a lot of folks have been worried about how heavy handed the Fed are being in their approach.
It's like they've been asked to stop all wild fires in America - and their solution is to level all the forests.
(The wild fires being inflation, and the forests being the economy).
...but strangely enough, the economy is holding up better than expected - a lot of big companies have just reported their quarterly earnings, and they weren't nearly as bad as some had predicted.
As a result, the market has gained a larger appetite for 'riskier investments' (like crypto).
The same why you might splurge on desert if you found $100 in your jacket pocket, right before your waiter came around to take orders.
