{"id":458423,"date":"2021-03-11T01:00:02","date_gmt":"2021-03-11T01:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458423"},"modified":"2024-06-11T06:54:14","modified_gmt":"2024-06-11T06:54:14","slug":"expert-take-bitcoin-has-become-a-monetary-manipulation-gauge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/expert-take-bitcoin-has-become-a-monetary-manipulation-gauge\/","title":{"rendered":"Expert Take: Bitcoin Has Become A Monetary “Manipulation Gauge”"},"content":{"rendered":"
Bitcoin price<\/a> is once again soaring, retesting resistance near the current all-time high. According to a top expert on the leading cryptocurrency, the asset’s price chart has become a sort of “manipulation gauge” that measures ongoing economic growth “engineering” by governments.<\/p>\n If that’s the case, resistance won’t be able to hold Bitcoin back much longer, as the US House of Representatives has passed another historic $1.9 trillion relief package. Here’s a closer look at how the “manipulation gauge” has reacted so far.<\/p>\n During the Great Recession, there were unprecedented bank bailouts and other measures to avoid a catastrophic economic collapse. The Pandora’s box of quantitative easing once opened cannot be stopped<\/a>.<\/p>\n Since that day, wage gaps and financial inequality only widened.\u00a0The best attempt at instilling change, was created by Satoshi Nakamoto in 2008.<\/p>\n Related Reading | Bitcoin \u201cCheat Sheet\u201d Calls For Next Leg Up To $77K<\/a><\/strong><\/em><\/p>\n Today, Bitcoin is actively fighting that same fight, and winning<\/a>. The cryptocurrency’s scarce 21 million BTC supply is proving its value during a time when the fiat money supply is expanding at its fastest pace ever.<\/p>\n Dollars and other global currencies have been created at unprecedented rates to combat the impact of the pandemic, and more stimulus<\/a> will always be necessary each time the economy weakens.<\/p>\n The rate at which this is happening, is appearing directly on the Bitcoin price chart itself, according to expert Preston Pysh<\/a>, effectively acting as a “manipulation gauge” against the “engineering” governments are doing in hopes of stimulating economic activity.<\/p>\n <\/p>\n <\/p>\n Looking at Bitcoin’s price chart above, the price action is relatively stable \u2013 as stable as it gets for a volatile cryptocurrency. But when Black Thursday<\/a> happens last year, and there’s an enormous spike downward unlike ever before seen.<\/p>\n The extreme move down resulted in such a strong polar move to the upside, further fueled by what has been a perfect storm for the nascent cryptocurrency.<\/p>\nBitcoin Becomes Solution To Ongoing Government Economic Engineering<\/h2>\n
Bitcoin has become a manipulation gauge of sorts according to Pysh | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
What The Monetary “Manipulation Gauge” Says Currently<\/h2>\n