Bitcoin started to rally on Thursday and is heading straight for the vertical as the risky asset rises globally. The highest price was $21,292 as it faced sellers ahead of the November high. It was last at $20,812, up $1,001 on the day.
I see this as a good sign not only for cryptocurrencies, but for risk assets in general. However, there are also warning signs here with seven straight days of earnings and meme shares. It seems that every time the Fed opens the door an inch, the flow of money returns. This could be a sign that the bulls are still in control, but it’s also something that should send the Federal Reserve higher.
My big concern over the next few days is that the Bank of Japan will cut the rug for the biggest monetary policy experiment in history.
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