Why Powell's Role Matters for Bitcoin's Future

9 replies 345 views
HyperLynxSenior Member
Posts: 153 · Reputation: 1301
#1Oct 1, 2021, 02:03 PM
A lot of analysts are hyped for the Fed's upcoming meeting. Powell could lower rates, which might kickstart Bitcoin's growth again. But honestly, the real big deal would be if he got booted from the Fed.
8 Reply Quote Share
0xGuruNewbie
Posts: 190 · Reputation: 19
#2Oct 1, 2021, 05:55 PM
Not sure why everyone links Bitcoin's rise to US politics. Sure, rate cuts matter, but Bitcoin was climbing before Trump even showed up. Now it feels like every price jump is tied to his moves.
5 Reply Quote Share
kevin_bridgeFull Member
Posts: 196 · Reputation: 677
#3Oct 3, 2021, 03:13 PM
Yeah, I get that politics play a role sometimes, but this seems overblown. The same user said the last surge was just a 'fakeout' and now claims it's heading to the moon? Come on... It's not all about one guy.
3 Reply Quote Share
AtomicForkFull Member
Posts: 352 · Reputation: 479
#4Oct 3, 2021, 08:44 PM
I feel conflicted here. I prefer low rates to inflate assets, but too much inflation messes things up for regular folks. It's a balancing act; rich get richer and poor struggle more.
0 Reply Quote Share
alex21Full Member
Posts: 147 · Reputation: 522
#5Oct 3, 2021, 10:25 PM
Powell was put in by Trump, but does he really know what he's doing? His trade policies are questionable at best. Anything above 10% on tariffs causes chaos.
3 Reply Quote Share
bull2009Senior Member
Posts: 14 · Reputation: 1872
#6Oct 4, 2021, 02:28 AM
If Powell's position is threatened because of Trump's whims, it could be disastrous long term. The Fed needs to be independent, or we’re stuck with yes-men who just follow the president’s orders.
2 Reply Quote Share
WildNovaSenior Member
Posts: 124 · Reputation: 1720
#7Oct 4, 2021, 03:25 PM
US politics are always in the spotlight, especially with Trump around. His actions seem to dictate Bitcoin's fate, but we should remember it’s not all about him. Bitcoin's growth shouldn't be pinned to a single event.
3 Reply Quote Share
HyperLynxSenior Member
Posts: 153 · Reputation: 1301
#8Oct 4, 2021, 07:38 PM
Trump's tariffs are a double-edged sword. They affect global trade and Bitcoin reacts in real-time. What if there's a major conflict? That could cripple hardware supplies and, in turn, Bitcoin.
2 Reply Quote Share
HyperLynxSenior Member
Posts: 153 · Reputation: 1301
#9Oct 4, 2021, 07:50 PM
I stick to my predictions. Bitcoin hitting $100K isn't happening anytime soon, and I stand by that. Long-term, though, I see the dollar losing value against Bitcoin. Crypto's the future.
4 Reply Quote Share
nick.novaFull Member
Posts: 86 · Reputation: 259
#10Oct 5, 2021, 01:37 AM
The US is a big player globally, that’s undeniable. Their actions ripple through markets, not just Bitcoin. But other countries matter too, and the global economy is more complex than just the US.
2 Reply Quote Share

Related topics