Daily Market Update

Market futures are down. Treasuries are up. Oil and natural gas are both down, Bitcoiin is rising and sitting at $39k.

The market is taking a dive today because of yesterday's Fed meeting where we learned that the Fed is recommending two interest rate hikes by the end of 2023, which could mean anytime because inflation is basically out of control. What does that mean for the average investor? Prices have been on the rise for a while but the Fed did not react until now, likely because they did not want to tame the bull market which is good, but we came in hot and we are bound to cool off.

There is some buying today because of the drop, but I think this could be the breakthrough for Bitcoin over $40k. This is exactly what crypto is made for because Bitocin only has a limited amount that will ever be created, 21 million coins, it is a hedge against inflation. The US Dollar loses value over time because we keep printing more of it, and more within the last few years than we did in the last 30. If the stock market continues to sell off Bitcoin should see a lift and what happens then is written in the stars...

Thanks for reading,

The Punkrock Capitalist