Bitcoin not rising as would have been expected with the SEC not appealing the Court‘s Spot #Bitcoin decision.

Many Hodlers had expected somewhat of a rally starting right after the news hit late last night, but besides a brief jump to just over 27k and an immediate retracement back to 28.8k nothing happened at all. A true nothing burger indeed. So why is that? My explanation is a simple one. The war is the worst environment for Bitcoin which is not yet viewed as a store of value by active market participants. It‘s just for speculation purposes and since people are fleeing into the US dollar in times of uncertainty, we will not yet see the expected effects. On top of this, if we believe the reports from main stream media, some of the attackers have been using crypto to fund their activities and probably still are putting pressure on the price. In addition at the current price level, miners need to cover their operational expenses and are selling as well.

As long as the dollar remains strong, people will continue to hold back. The tide will turn when this changes. When will that be? I don‘t know, but having 2 geopolitical escalation and a third one on the horizon (China/Taiwan), the US will have a hard time to not keep printing money. At currently 120% debt/GDP interest expenses can still be covered by tax income, but it has not been possible to reduce the debt instead, the US is already adding 2 Trillion $ on top of that this year. Once people fully understand this, they will finally see Bitcoin as what it is.

I think the most dangerous thing you can do here is trade. If you want to earn a return on your money, buy something that generates income, if you want a long term risk hedge, buy Bitcoin. It doesn’t have to be much. I personally keep roughly 3% of my net worth in Bitcoin, I hold way more real estate as well as debt (at low 1.5%), cash and shares, although shares make up less and less of it these days.

JMHO