Bitcoin Falls Over Inflation Worries And Scott Melker Blasts FED Influence

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Markets and Bitcoin fell as the Federal Reserve admits increasing inflation is problematic. Interest rates could be raised as soon as 2023 which means investors could be stepping out of riskier assets. Bitcoin, which has been able to close above $40k on the daily chart for the past two days, fell slightly in response to the news and is currently trading at $39k.

Hoskinson does Friedman

A few weeks after Lex Friedman interviewed Ethereum founder Vitalik Buterin for his famous 4-hour or so podcast, he also invited Cardano founder Charles Hoskinson.

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Of course the topic of the falling out between two of the most famous men in the cryptosphere came up, but Hoskinson refused to comment, preferring instead to tout Cardano.

Scott Melker blasts FED influence over Bitcoin

Wolf of All Streets analyst Scott Melker commented on the Fed’s influence before the latter had even spoken yesterday evening.

As Bitcoin has now become a global traded asset, Bitcoin traders noticed a holding pattern in the world’s biggest cryptocurrency in the hours before the Federal Reserve’s announcement on US inflation.

My thoughts on the FED, the broken economy, where #Bitcoin fits in and more.

Also looked at the $BTC charts and news.https://t.co/5BNzmhlROr

— The Wolf Of All Streets (@scottmelker) June 16, 2021

Scott believes that in this manner the US economy leaves too much influence in the hands of one man and thinks this is no longer a free market.

If the Fed continues buying bonds, markets go up. If the Fed admits there is a problem with regards to inflation and something has to be done, markets (and Bitcoin) go down. It’s that simple according to Scott.

Some hours later, he was proven to be right as markets (and Bitcoin) fell.

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