"The Federal Reserve had 7.17 trillion U.S. dollars of assets on their balance sheet as of June 3, 2020, up from 4.17 trillion U.S. dollars on February 19, 2020."
Source: fred.stlouisfed.org/series/WALCL
From July 2020 until today, USA has been injecting approximately 1 trillion USD every 8.5 months continuously.
This becomes evident when comparing BTCUSDT November peak higher than in April 2021, while PAXGBTC (with inverted graph to illustrate BTC growth) shows that all BTC All Time High share the exact same line of horizontal resistance. Therefore BTC "became worth more in November" because U.S. Dollar inflated.
In the above technical analysis it is used:
- horizontal pitchfork to define fibonacci and median levels
- currency comparison: PAXGBTC - white line - high
- currency comparison: PAXGBTC - white line - low
The main fibonacci levels are painted in yellow, as when BTC breaks through them, there is a big move.
There is a chance that BTC will stay on top of the blue support for a long time and then try again to break through the yellow resistance.
Source: fred.stlouisfed.org/series/WALCL
From July 2020 until today, USA has been injecting approximately 1 trillion USD every 8.5 months continuously.
This becomes evident when comparing BTCUSDT November peak higher than in April 2021, while PAXGBTC (with inverted graph to illustrate BTC growth) shows that all BTC All Time High share the exact same line of horizontal resistance. Therefore BTC "became worth more in November" because U.S. Dollar inflated.
In the above technical analysis it is used:
- horizontal pitchfork to define fibonacci and median levels
- currency comparison: PAXGBTC - white line - high
- currency comparison: PAXGBTC - white line - low
The main fibonacci levels are painted in yellow, as when BTC breaks through them, there is a big move.
There is a chance that BTC will stay on top of the blue support for a long time and then try again to break through the yellow resistance.