•Bitcoin: $8,235 +1.04%
•Ethereum: $176 +2.08%
•S&P 500: $2,888 -2.64%
•Dow Jones: $26,086 -2.95%
| Why Bitcoin Fell Under $10,000 and What It Means |
Bitcoin has been in a downwards spiral ever since the Bakkt launch... despite theories that it would rise to new heights. But it’s not exactly a surprise – Bitcoin was being held at an artificial floor set by institutional investors buying up Bitcoin whenever it would dip to $9,000, thus creating support. With that support gone, Bitcoin now has the chance to adjust to a more market-determined price.
Is Bakkt the only reason for the price dip? Not quite. After months of sideways movement, it was clear that Bitcoin had to go somewhere once the Sept. 23rd turning point was reached – and, absent sudden, major investment in Bakkt, that move was downwards.
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| Libra’s Future is Looking Cloudier by the Day |
Facebook’s golden project, Libra, opened to a lot of hype... but national and international regulators are making it less likely that the project will ever get off the ground. Some of the biggest banks in the country are advising the Federal Reserve that Libra is a threat. A threat in what way? Well, the banks say that Libra could create a ‘shadow banking system’, unregulated by current financial standards, as well as make it harder for local governments to monitor their own economies. Remember, Libra isn’t technically a cryptocurrency – it isn’t decentralized, and will be controlled by the Libra Association.
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