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.
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
Posted in Bitcoin, currency wars, economy, Gray's Economy, monetary, Stocks soar, Wall Street |
Tagged cryptocurrencies, digital currency, FANG stocks, Microsoft, Nasdaq, Trump tax plan |
What was one of the biggest selling items over the Thanksgiving weekend?
Bitcoin. The cryptocurrency jumped from a low of $7,980 on Wednesday to $9,732 early Monday morning.
Here’s an indication that bitcoin has been infiltrated by Wall Street.
The crypto has become the latest victim of “buy on the rumor, sell on the news.”
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.
Posted in Bitcoin, economy, Gray's Economy, monetary, Wall Street |
Tagged Bubble, cryptocurrencies, cryptocurrency bubble, James Gorman, Jamie Dimon, JPMorgan, Mike Novogratz, Morgan Stanley, Ray Dalio |