What's happening in cryptocurrency?
Read about the Tether money machine, the government money machine, the social media money machine, the VC money machine and bitcoin's price analysis.
1. Tether prints more money
Tether printed money.
It went down as well as expected – no matter what one expected.
2. RBA refrains from printing more money
It's still deciding what kind of money to print.
Some kinds of money are better than other money and less likely to unintentionally lead to the collapse of civilisation as we know it.
3. Social media's prints on money
Social media posts leave fingerprints on crypto prices.
But they leave the prints before the price movements, not after.
4. VC firm pounces on money
Get a few hundred million of one kind of money, turn it into a few hundred million of another kind of money, start arguing the technicalities of money and assets, and bob's your uncle.
Andreessen Horowitz is undeterred, to the tune of $300 million, by the current crypto downturn.
Bitcoin price analysis: Prince edition
Bitcoin prices have been around the world in a day to the slaughterhouse, descending from diamonds and pearls to chaos and disorder. Purple rain.
Disclosure: At the time of writing, the author holds ETH, IOTA, ICX, VET, XLM, BTC and NANO.
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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