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One good answer for why Bitcoin is volatile and trending down since November, is the US Dollar. Below is the DXY Index chart:
As the USD strengthens, it puts sell pressure on Bitcoin. Our contention for the past month or so, has been the Fed’s narrative since November of future rate hikes, has faned this flame. Tomorrow, they announce said rate hike. We predict 25 bps, but if its higher, expect a big Bitcoin dump. If it is 25 bps, expect a smaller Bitcoin dump. What happens after this will be really important. See this picture and Christine Lagarde quote from a year ago: