Crypto Report - Black swans?
|Published:||19 Jul 2021 14:05 ET|
New black swans are appearing on the horizon such as Yellen discussing the regulation of stablecoins later today, or if the stock market corrects even 10-15% due to the tough talk by Fed officials on tapering, ie, "taper tantrums", or concerns about the delta variation of COVID prompting renewed lockdowns thus stalling the economy further. FUD can easily drive the stock market 10-15% lower from peak. This may be what is needed for a wash out as many trillions in spending are on the way, and the Fed has really no choice but to keep printing. I am watching for a potential sharp breakdown in BTC price as a buy point for BTC/ETH/GBTC/etc. Of course, should we instead round out the base then see renewed entry points, such are also valid. Keep an eye out for undercut & rallies in BTC and GBTC. Crypto changes on a dime so one day to the next can be quite different.
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