Where Is Bitcoin Fitting Into The Current Picture?

The Federal Reserve spent a lot of time last year trying to convince investors that it was going to tighten monetary policy to combat the growing threat of inflation.

But, as the Fed continued to purchase $120.0 billion in securities per month throughout the year, investors found it hard to believe that the Fed was really going to do what it said it was going to do.

Then, in October, the Federal Reserve began reducing the amount of excess reserves held in the banking system through the use of reverse repurchase agreements, and the investment community began to pay attention.