It is important to recognize that everything needs to be viewed objectively.
The ISM manufacturing PMI is approaching above 50 for the first time in over 3 years.
This is one of the longest "bear" markets in this regard.
This is not good for the business cycle, and it's also not good for
#Bitcoin. .
The rise in Bitcoin's price is simply due to the launch and liquidity of the ETF fund.
At this point, the market is just starting to wake up.
Currently, there is a lot of debate about why the PMI index remained positive in previous instances while Bitcoin fell into a bear market.
That's right, definitely, because macroeconomic conditions have completely changed.
Previous cycle:
- At the end of 2021, the Federal Reserve (FED) decided to start the quantitative easing (QT) program and sharply raise interest rates.
This time:
- The quantitative easing (QE) program started while the economy was slightly weakening and interest rates were decreasing.
There is a reason why gold and silver peaked last week, which is due to the end of the current macroeconomic phase.
In the next 1-3 years, we will witness a strong and ultimately bullish phase for #Bitcoin and #Crypto.