Bitcoin Tops $40,000; “$10k Off The Lows” After Musk’s “Diamond Hands” Tweet, Wood Optimism
- Bitcoin Tops $40,000; “$10k Off The Lows” After Musk’s “Diamond Hands” Tweet, Wood Optimism
by Tyler Durden, https://www.zerohedge.com/
Summary:
* China reportedly launches widespread ban on crypto payments, warns of speculation
* Overall crypto market cap drops $1 trillion
* Ether down 40% at worst (rebounding strongly off $2,000), now back up near $3,000
* Bitcoin down over $10,000 at worst (rebounding strongly off $30,000), now back above $40,000
* Crypto proxy stocks hammeredCoinbase outages spark anger among tradersBinance halts Ethereum withdrawals
* JPMorgan sees bitcoin-to-gold rotation; and calculates fair-value at $35,000 amid institutional liquidations
* Elon Musk reemerges tweeting “Diamond Hands” just before 11am.
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As many HODLers have said, we’ve seen this story numerous times…
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