If monetary policy is relatively tight, Bitcoin stands very little chance of rallying for anything significant. Even though we are starting to see talk about the Federal Reserve leveling off its monetary rate hikes, the reality is that Bitcoin has multiple other problems as well. The first one of course is the fact the asset cannot be used as money. Yes, I get into arguments all the time about how you can transfer it across the world, but what good is that going to be when it loses 70% in the year? That’s not money, that’s a speculative asset. I have no issues whatsoever speculating, but we need to call it for what ... (full story)