Fed Pumps Brakes on the Dollar... It’s a 'Big Hairy Deal' for Bitcoin

The Fed has decided that the dollar is strong enough, "and they don't wait it to get any stronger," says Clem Chambers, CEO of Online Blockchain Plc. He tells our Daniela Cambone that the dollar's strength has been suppressing all other assets and, "the dollar's rampant run has suddenly stopped and that's not accidental." Chambers says this is very good news for cryptos and other commodities, "and the dollar's strength can drag crypto." He remains bearish on bitcoin as a whole, saying if the digital asset breaches a $17,000 threshold it could fall all the way down to $10,000 a coin. Chambers concludes that he recently got out of the physical side of gold and has focused on [precious metals and miners] equities because of the current market conditions.

#bitcoin #federalreserve #gold

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Chapters:

0:00 How has bitcoin weathered the storm?
6:14 How long will it take for bitcoin to turn it around?
17:41 Final thoughts from Clem