The day’s slide started around 9amET, when a burst of gold buying appears to have reset the correlation between XAU and BTC: Just a few hours later, Bitcoin is back below $16,000. [Who in the world can afford 1 Bitcoin ~ The US Middle Class? Think Again!]
Litecoin – yesterday’s big winner – is tumbling…
Ethereum is roling over…
Futures are underperforming spot and collapsing the arbitrage…
5 Ways To Bet Against Bitcoin’s Highly Speculative “Get Rich” Scheme: Rise & Fall Of Famous Bubbles
Billionaire Hedge Fund Pioneer Ray Dalio: Bitcoin Is A Bubble, Not A Currency…Not A Store Of Value
While no immediate catalyst for the moves are obvious, we note that Interactive Brokers has allowed clients to short Bitcoin futures (with a massive $40,000 margin) and South Korea said on Wednesday it may tax capital gains from cryptocurrency trading.
[South Korea Has Further banned domestic initial coin offerings and margin trading in cryptocurrencies following China & Russia] as global regulators worried about a bubble, with Australia’s central bank chief warning of a ‘speculative mania” that has seen the digital asset making rip-roaring gains. [Australia is further moving forward With Legislation to strictly regulate cryptocurrencies] [Top 11 Countries In Which Bitcoin is Banned]
Dollar in Death Row | John Embry
- Is This The Beginning Of The Next Silver Rush?
- Global Silver Institute: Physical Silver Supply Deficit Since 2004
- South Korea’s Silver Hi-Tech Exports: Economy Grows At Fastest Rate In 7 Years
- Bitcoin Zealots Suddenly Admit It Will Never Work As A Universal Payment System
- Rigging Of The Block Chain ~ $300 Million Vanishes With A Click: U.S. Bitcoin Becoming More Isolated
- Gold’s Global Supply Artery: Declining Supply Heading For Cardiac Arrest With Increasing Demand Vs Debt Clock
- Why Silver & Gold Are Not Presently $728.00/Ounce & $5,996.00/Ounce Respectively: The Economy Is One Big Scam