Something weird is happening with Bitcoin.
You know the other week, when we mentioned there were some signs that Bitcoin might be decoupling from the stock market?
If you didn't catch it, the basic gist is this:
At the moment, when the stock market goes up or down, Bitcoin tends to follow. If Bitcoin were to decouple from (break up with) the stock market, it'd be living its best life as an independent entity.
Potentially giving it extra price resilience when times are tough - like they are now.
(Which would make it a much more attractive investment to the broader market).
Yeah, well...there's now even more evidence that this might be happening.
The Federal Reserve are about to meet and discuss further interest rate hikes, to try and slow consumer spending.
...and seeings as we're all collectively continuing to spend, many people expect to see interest rates rise even further.
Meaning everyone's loan repayments may be about to go up, reducing their disposable income even more - disposable income that may have previously been invested in things like Bitcoin.
The weird part is...
While the stock market dropped on the news - Bitcoin's price ain't budging. It's sitting steady at around $20k.
Decoupling doesn't just happen in one fell swoop, either - it happens gradually, with little markers dropping along the way.
And while nothing is set in stone, this is one of those markers.
Very exciting!
