Big Uncle wanted to drop the market for fun, the retail investor will come up with a reason why he did it - S.G. Demura
At the last Federal Reserve meeting, Jerome Powell noted that under current legislation, the Federal Reserve System is legally prohibited from owning Bitcoin, and the Fed does not plan to change this law. The media quickly picked up this information and presented it in a FUD format.
But if you sort this out, the questions related to owning BTC fall under the jurisdiction of Congress. After the elections, who will take this position?
Correct, the Republicans, including Trump, who gained full control over both houses of the U.S. Congress, means that the Fed will not be able to block the creation of a Strategic Reserve of BTC if Congress decides to do so.
For those super analysts who write that the strategic reserve is not important, and if it does happen, the USA will buy only a few billion dollars a year, these are mere pennies that will not support the market. I will say that we should not care at all how much they buy; the main thing is the news itself and the fact of the purchase by the number 1 country. All other countries and America's lackeys will start to repeat this and will elevate the crypto market to a new level, but I fear that it will be at that moment that we need to run away from the market.
Buy on expectations, sell on facts.
I'm sure you couldn't make money on this news. On my parallel channel, I explain how to work with news, make money from retro drops, and earn from arbitrage, so if you don't want to end up at the end of a bull market in torn pants, Pavel Durov will tell you where to find me 😏
Max_pro_crypto