The "milkshake" theory is a term created by a fellow named Brent Johnson of Santiago Capital and seem to be right on the money sorta say in recent event. Basically here is the best explanation I could find on bloomberg:
All currencies are doomed because they’re not actually valuable.
The dollar is slightly better because it’s the favorite child.
When the Fed stops making more dollars — the frothy “milkshake” of the title — demand for existing dollars goes up.
In other words the US can pretty much dictate how the currency moves and act like a vaccum sucking up liquidity from other currencies worldwide.
Interestingly enough a strong dollar is normally associated with lower bitcoin price movements in the pass.
However I think this time is different -- the reason is because this is globally effecting all currency and couple with inflation + the average folks not trusting fiat in general -- so there is only a few possibility left which is precious metal or cryptocurrency, especially bitcoin.
Anyways I think this may be a the start of bitcoin finally breaking away from the general US market.
Just a random hopium thought and this can age very badly but we will see.
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