CBOE’s begins BTC options trading on Sunday throwing crypto pricing for a loop

As I wrote on Thursday, the huge price spikes on bitcoin probably was attributed to hedge funds jumping into the crypto.

The hedgies jumped in as the Chicago Board Options Exchange, CME and Nasdaq came out with plans to offer options on bitcoin, which gave them a nod that the cryptocurrencies were here to stay. Continue reading

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Bitcoin taking a bite out of FANGs

The booking of FANG profits is very apparent in the last five trading days as the Nasdaq has lost 1.7% in value.

The rotation out of high-flying tech stocks, which I saw happening as the Trump tax cut moved through Congress last week, is continuing while the Dow Jones continues to move higher. Continue reading

Wall Street divided on cryptocurrencies

The House of Morgan is divided over bitcoin.

While JPMorgan chief Jamie Dimon is so anti crypto that he even belittled his daughter’s trading bitcoin and told his traders if he found them trading cryptos they would be fired for stupidity.

Continue reading