Bitcoin Falls Below $30,000, Lowest Price Since July 2021
Shane Trejo
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Bitcoin, the most popular cryptocurrency in existence, tumbled below $30,000 on Monday, which is the lowest price to buy a single digital coin since July 2021.
This comes amidst news of monetary tightening through the raising of interest rates by the Federal Reserve. Crypto experts largely do not believe the plummet will be permanent, and Bitcoin will inevitably rebound.
“The recent crypto slide is strictly based on the tech share-led sell-off and not fundamentals for the cryptoverse. Bearish momentum could take bitcoin towards the $28,500 level, but that might start to be where some long-term bets come into play,” said Edward Moya, who works as a senior market analyst for Oanda.
“The long-term fundamentals remain in place for bitcoin, but a return to record highs will take a long time. Bitcoin will start to stabilize when the bloodbath on Wall Street ends and right now many investors are still in panic-selling mode,” Moya added.
“If the Fed continues to raise rates through June and July, we’ll probably continue to get markets going down all the way through the summer,” said Steven McClurg, the co-founder and chief investment officer for Valkyrie.
“My expectation though is that due to midterm elections coming up in November, we’ll probably see the Fed pausing or even lowering rates starting at the September meeting, so that will be the catalyst. We could see the market going back up at that point,” McClurg added.
Big League Politics has reported on how the Biden regime is cracking down on crypto in an attempt to protect the globalist monetary monopoly:
“The Biden administration is cracking down on cryptocurrency amidst severe national economic woes, including rising inflation and soaring gas prices.
Biden is going to issue an executive order that will impose severe regulations on cryptocurrency. They are using the Russia/Ukraine conflict as a pretext to impose these authoritarian restrictions. A popular crypto trading app, Coinbase, arbitrarily froze the accounts of thousands of Russians yesterday.
The Treasury’s Financial Crimes Enforcement Network is telling Wall Street firms to be “vigilant” in helping them enforce sanctions that will hurt and impoverish the Russian people. “Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people,” acting Director Him Das said in a statement.
Biden’s coming order will compel the Treasury Department to develop policies restricting the flow of digital money. They will request for the State Department to align American cryptocurrency laws with those of allied globalist nations, in order to facilitate a massive worldwide crackdown on crypto.
“We will continue to look at how the sanctions work and evaluate whether or not there are liquid leakages and we have the possibility to address them. I often hear cryptocurrency mentioned and that is a channel to be watched,” Treasury Secretary Janet Yellen said last week.”
Bitcoin is down but not out. This might be a good buying time for investors who want to bail on the Federal Reserve’s inflationary scam.
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