{"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

Bitcoin Becomes Solution To Ongoing Government Economic Engineering<\/h2>\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

\"manipulation<\/p>\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

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>\n

Related Reading | Fund Manager Bashes Bitcoin: An Extreme Form of Libertarian Anarchism<\/a><\/strong><\/em><\/p>\n

In addition to price rising due to hyperinflation, adoption of the technology is exploding, and institutions are involved for the first time ever, and it has only recently just begun.\u00a0Gold, which typically performs in this type of environment, has suffered and seen outflows go directly into Bitcoin.<\/p>\n

The current bull market uptrend is only poised to continue, as more stimulus packages are on the verge of being passed and funds being distributed directly to businesses and individuals. The risk of hyperinflation remains high<\/a>, and buying Bitcoin remains the best defense.<\/p>\n

Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price 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. 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. Bitcoin Becomes Solution To Ongoing Government Economic Engineering 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. Since that day, wage gaps and financial inequality only widened.\u00a0The best attempt at instilling change, was created by Satoshi Nakamoto in 2008. Related Reading | Bitcoin \u201cCheat Sheet\u201d Calls For Next Leg Up To $77K Today, Bitcoin is actively fighting that same fight, and winning. 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. Dollars and other global currencies have been created at unprecedented rates to combat the impact of the pandemic, and more stimulus will always be necessary each time the economy weakens. The rate at which this is happening, is appearing directly on the Bitcoin price chart itself, according to expert Preston Pysh, effectively acting as a “manipulation gauge” against the “engineering” governments are doing in hopes of stimulating economic activity.   Bitcoin has become a manipulation gauge of sorts according to Pysh | Source: BTCUSD on TradingView.com What The Monetary “Manipulation Gauge” Says Currently 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 happens last year, and there’s an enormous spike downward unlike ever before seen. 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. Related Reading | Fund Manager Bashes Bitcoin: An Extreme Form of Libertarian Anarchism In addition to price rising due to hyperinflation, adoption of the technology is exploding, and institutions are involved for the first time ever, and it has only recently just begun.\u00a0Gold, which typically performs in this type of environment, has suffered and seen outflows go directly into Bitcoin. The current bull market uptrend is only poised to continue, as more stimulus packages are on the verge of being passed and funds being distributed directly to businesses and individuals. The risk of hyperinflation remains high, and buying Bitcoin remains the best defense. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":458428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-458423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nExpert Take: Bitcoin Has Become A Monetary "Manipulation Gauge"<\/title>\n<meta name=\"description\" content=\"Bitcoin price is once again soaring, retesting resistance near the current all-time high. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Expert Take: Bitcoin Has Become A Monetary “Manipulation Gauge”","url":"http:\/\/uniquehot.com\/news\/expert-take-bitcoin-has-become-a-monetary-manipulation-gauge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/expert-take-bitcoin-has-become-a-monetary-manipulation-gauge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-gauge-Depositphotos_111282510_xl-2015-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-gauge-Depositphotos_111282510_xl-2015-scaled.jpeg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2021-03-11T01:00:02Z","datePublished":"2021-03-11T01:00:02Z","dateModified":"2024-06-11T06:54:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Expert Take: Bitcoin Has Become A Monetary “Manipulation Gauge”\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/expert-take-bitcoin-has-become-a-monetary-manipulation-gauge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/expert-take-bitcoin-has-become-a-monetary-manipulation-gauge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-gauge-Depositphotos_111282510_xl-2015-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/bitcoin-gauge-Depositphotos_111282510_xl-2015-scaled.jpeg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2021-03-11T01:00:02Z\",\"datePublished\":\"2021-03-11T01:00:02Z\",\"dateModified\":\"2024-06-11T06:54:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/bitcoin-gauge-Depositphotos_111282510_xl-2015-scaled.jpeg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/458423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=458423"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/458423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/458428"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=458423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=458423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=458423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}