To be honest, it is less likely that you can use Bitcoin now than in the past because it has been so volatile. The BTC/USD market did very little during Thursday’s trading as we continue to circle around trying to figure out if the FTX scam is still causing contagion in the crypto market. Indeed, many people wonder if things are actively getting worse. Genesis only closed redemption for at least five days, so we probably have a scenario where people are still worried about the next shoe drop, and I think that’s coming. Advertisement Try this trading proposition with the best BTC/USD broker Get started image The $18,000 level above was previous support and should now offer some resistance based on „market memory”. At the end of the day, I think it’s a situation where we have a lot of problems and Bitcoin is just going to be all the fraud and crap that’s going on. Also, Bitcoin has a big problem because its adoption has been very low. We’ve heard a lot of noise about Bitcoin’s explosive growth for years, but it’s still very small in real-world use cases. To be honest, it is less likely that you can use Bitcoin now than in the past because it has been so volatile. In other words, it cannot be used as money in its current form. I’m not interested in buying Bitcoin The reason I say this is that while the Lightning Network makes payment transfers much faster, the reality is that you can accept payment in Bitcoin and it loses 7% of its value in a matter of seconds. hours It’s not money, and people don’t really want to accept it, except true believers, of course. That doesn’t mean Bitcoin won’t eventually bounce back, but I think we have a lot of work to do in the near term. In fact, it is very likely that we will see the $12,000 level tested and eventually $10,000. Ultimately, I’m not interested in buying Bitcoin unless the Fed specifically says it will loosen monetary policy.