POKKET: Today’s Market Commentary (January 14)
Bitcoin rebounds hard overnight as Asia-sell / US-buy theme continues. BTC is trading $37180, +9.3%. ETH is also following, +6.7% to $1120 as of now. Movers are LRC +20%, ZRX +19%, AST SUSHI +18%, and rest are all up.
Christine Lagarde, president of the ECB, called for the dogs of regulation to be unleashed on Bitcoin, saying ‘global cooperation’ is necessary. She also called it a speculative asset and a vehicle for money laundering; for clarity sake she wasn’t talking about the Euro, but rather Bitcoin.
Howard Marks, of Oaktree Capital, has acknowledged he wants to get a better understanding of Bitcoin and is willing to learn – at this point, the last domino is Buffet. Anchorage becomes the first OCC-approved national crypto bank.
Traditional markets are stuck this week, SPX +0.3% while FAANGs +1.4%. Second historic impeachment of Trump goes forward in an attempt to remove possibility of a second term in the future. DXY at 90.3, USDJPY 103.87, Gold $1850.
Check out today’s interest rates at POKKET.