With US securities markets closed Monday for Martin Luther King holiday, Let’s take a look at bitcoin pricing.
Over the past few days the bitcoin price continues to find support at the $13,000 level. I have written about this support for the last month. There seems to be a floor for now that the crypto continues to bounce up off of lucky $13K.
Conversely $17,000 seems to be a near-term top for bitcoin as it trades in this range since the new year.
As news of countries banning crypto trading only to be denied or walked back in the next day or so, has been driving pricing changes during 2018 so far.
I know that the feds will be in the market selling some 1,400 bitcoins they seized in the case against ex-Secret Service agent Shaun Bridges who was convicted for money laundering.
Not sure that will have much of a price impact at all given some hedge funds continuing to pile into the market.
Since the market news is muted Monday, I have a question about Saturday’s news of the ballistic missile threat announcement in Hawaii.
How could the announcement, which was broadcasted state-wide through smartphones and media, be enacted by error by one employee and not corrected for 38 minutes?
“Part of the problem was it was too easy — for anyone — to make such a big mistake,” said Hawaii Emergency Management Agency spokesman Richard Rapoza.
“We have to make sure that we’re not looking for retribution, but we should be fixing the problems in the system. … I know that it’s a very, very difficult situation for him,” Rapoza added.
The accident essentially shut down the island economy for the day over the error. Yet no one will be reprimanded.
So I have a scenario of why it took 38 minutes to rescind the alert. Was there a missile launched from North Korea and intercepted or failed during flight?
The reason to put the blame on a state employee instead of launching a full-scale retaliation against North Korea for a miserably failed effort to hit the islands would be too chaotic for the world’s economy.
This scenario could explain the 38 minutes it took for the state emergency system took to refute the warning.