"If I ever got impeached, I think the market would crash, I think everybody would be very poor. Because without this thinking [points to head] you would see, you would see numbers that you wouldn't believe in reverse."
After tumbling last night as headlines hit that the SEC rejected another nine Bitcoin ETF applications, cryptocurrencies have stabilized (for now). Additionally, a broad crackdown on crypto in China has not triggered wholesale selling.
Although China has backpedaled on proposed tariffs on U.S. crude imports, the move is indicative of its need to diversify sources and steps may now be taken to enable China to play the oil card in the future – including imports from Iran despite sanctions, and drawing closer to Russia.
"Today, it’s almost impossible to imagine a world where the FAANGs aren’t dominant. That’s why it’s a good a time to start selling, and diversifying into the decentralized platforms that will eventually replace them."
After a noisy day, cryptos tumbled right as the US equity market closed today following reports that the Securities and Exchange Commission (SEC) has delayed a decision on another proposed bitcoin ETF, pushing its final determination to September.
It was supposed to be a typical subdued session to start the week, however there was already much excitement as a furious buying program push Europe into the green just before 6am EDT which also sent US index futures into the green
Despite headlines that the biggest coffee chain in the world will soon begin accepting Bitcoin, the crypto space is under pressure this morning (led by Bitcoin) following comments from Goldman Sachs that "further declines" are expected.