POKKET: Today’s Market Commentary (January 11)
Healthy correction in Bitcoin overnight as it dropped to -15% from 24hr peak to trough and is now back to around -1%, trading $37775. ETH is a similar story, down -1.3% and trading $1240. Movers are MKR -16%, BQX -11%, VALUE -10%, and the rest of Pokket universe all down.
Headline in cryptwit is the departure of Dan Larimer from Block.one as CTO, with EOS dropping ~20% as a result. His next steps are unknown, but he has been vocal about Twitter’s censorship and is an advocate for free-speech – which could not be more timely. Kim Dotcom has announced he is working on K.im with Roger Ver and has embraced Bitcoin Cash, which didn’t turn out to be a popular move, as his latest tweet asks the community ‘how did the cryptoverse get so toxic?’. Stripe has stopped processing payments for the Trump Campaign, which may help push Trump’s embracing of Bitcoin. Stripe is then joined by GS, JPM, Citi to suspend Trump Campaign.
Traditional markets start the week with DXY coming up to get some air, just a touch above 90 now with USDJPY 104.08. Gold is unchanged for the most part.
Check out today’s interest rates at POKKET.