We are still going to talk about cryptocurrencies, this subject is fascinating and exciting.
Bitcoin, the star of crypto, went from record to record, and the all-time high was reached with a value of $ 64,800 for nothing at all.
After such a rise, it was normal to see a movement of consolidation and profit taking.
So there is nothing shocking about the current fall. It is impressive, but it is just proportional to the dizzying rise that preceded it.
What is interesting, however, is the cause of this sudden drop.
The causes are not certain at this stage, and as I told you, profit taking was logical and legitimate. When you buy nothing for 20,000 dollars, and a few months after that is worth 65,000 dollars, you find that nothing is much less attractive and the good old dollars or euros much more advantageous to buy something other than a Tesla …
Precisely about Tesla. It is fashionable to tell me “Charles, you do not understand anything, if even Tesla accepts bitcoins, it is because cryptos become real instruments of exchange”.
But it’s true.
I do not understand anything about the new economy.
What I understand all the same is that in my time, in my time as my children say, who make me age prematurely, is that some car mechanics who were not careful accepted to be paid in cash from the choice of work under the table, tax evasion, concealment of income or any kind of trafficking.
Tesla is nothing more than a vulgar mechanic of the 80s and 90s, little looking at the origin of “sorrel”.
Simply, in this modern world, cash and suitcases of banknotes are replaced by extortionists and hackers who are, for example, paid by the companies they take hostage in… bItcoin!
This is also the reason why companies are forced to obtain … bitcoins (among other things!)
And that’s where we come to the rumor of the weekend which probably explains the fall and which is probably the trigger.
Janet Yellen would like to sue financial institutions for Bitcoin laundering!
“An unverified report on Twitter claimed that the US Treasury Department could consider cracking down on financial institutions for money laundering using cryptocurrencies.
A tweet from the @Fxhedgers account raising the possibility of a crackdown, citing anonymous sources, went viral on Saturday evening.
It is currently a rumor.
This is not confirmed by the US Treasury at the time of this writing.
What is certain is that if this were true, it would be better to get rid of its nothings as long as they still have some value, because the ban, or the accusations of money laundering are simply the major risk for cryptocurrencies.
If the States ban them, it is worth nothing overnight, and the cryptyocurrency market is very sensitive to these news or rumors.
Logically, the market knows that there lies the existential risk.
So don’t be naive and don’t get tricked.
Stay measured, because caution is required.
Those who want to go further can watch or re-watch the video below, and get the special Bitcoin dossier (below) by subscribing to the STRATEGIES newsletter.
It is already too late, but all is not lost. Prepare yourselves !