Bitcoin will undoubtedly rise up faster than other assets once the macro economic environment improves. CPI came back 8.3% down from 8.5%. Real inflation is still 15% to 20%. So the CPI number changes nothing. Investors will have to look for scarcity during times like these when all assets are falling hard. This chart below is helpful, Bitcoin is at the top as the most desirable scarce asset to own:
How long will this last? It could be months. When will inflation be at such a point, the economy, and stocks get so low that the Fed has to begin printing and quantitative easing again? This also could be months. It requires patiently waiting this out and NOT selling. This next chart is from Bloomberg and represents the FUD (fear, uncertainty, and doubt) we see in the main stream media when Bitcoin skids through a bear market:
Many in main stream media are pointing to $20K as the low. However, Bitcoin has never dropped to the previous cycle low before, during a bear market. We understand the $20K sentiment. However, there have been high volumes of buyers offering support in the $28K to $29K range. This is represented in the next chart below: