POKKET: Crypto Market Update (June 19)
Bitcoin is down -5% to $35.5k, ETH is following -5% to $2250. Movers are BZRX -16%, BAL -12%, TRU GRT GTO -11%, FTM CHZ -10%, rest are pretty tame.
No direct news flow to explain the fall in BTC & ETH, however macro indices and commodities were softer on Friday – Nassim Taleb saying on twitter the best short term inflation hedge is cash as initially asset prices collapse after rates go up.
Dave Portnoy’s twitter account is suspended, while Peter Schiff was whining to @jack about not getting his blue checkmark.
BTC & ETH and mining company Hive has received approval to list shares on NASDAQ.
Ethereum’s London hard fork, which includes EIP-1559, will go live in July; this will decrease the supply a bit and change how network fees work and how miners get compensated.
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