The news for the Cryptogeek community is noting but good news as Bitcoin surged last night above 30,300 and as of 4:30 a.m. this morning is holding above that magic number.
The big questions are simple and have nothing to do with technical analysis:
Will the big whales come in again and take some profits knocking the price back down?
Is this just another place to park money until equities determine which direction to make their next move?
How much longer will the Fed allow rampant speculation in options, meme stocks, and yes, cryptocurrency to persist before it does decide to get serious and break things?
The last question is the most important because it would appear the Fed is losing control of the narrative again and if they surrender, then 5% could easily become the new 2% and America will start to resemble a gigantic version of the Italian economy long before the European Union.