QUOTE OF THE DAY
“Do not seek to follow in the footsteps of the wise; seek what they sought.”
Bitcoin Tumbles Below $4000
If you've been active in the CoinSheet Discord Server, this shouldn't have been a surprise to you. I've been telling folks to be cautious of the September 11/12 date for over two weeks.
A few days ago I even let folks know that I sold my Bitcoin position and was 100% in fiat (fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.i.e., the US dollar.).
So what happened?
If you remember, this was my price prediction as of ~mid-late August.
We we're supposed to cruise around and hit the upper channel line (around ~$5,200) by September 12.
Here is a semi-detailed account of what actually happened.
TL;DR - China happened and exhausted our already dwindling bullish momentum, so we didn't have enough momentum to break ~5,000 by September 12, and this set off a bearish run a few days early.
Anyways, here is Tyler Durden's take on it (which I kinda disagree with?).
Jamie Dimon Says Bitcoin Is A 'Fraud'
So is this like that time when the Microsoft CEO said the iPhone will never sell? I don't know.
Jamie wasn't completely unreasonable. I mean, calling Bitcoin a bubble? This is coming from a guy who issued bad loans in the housing market. So he might know exactly what he's talking about.
You can read about this and watch a video of him speaking here.
UK Regulatory Body Issues ICO Warning
The new hot thing is town is issuing warnings to ICO's.
According to Coininspector, the FCA’s warning issued today swiftly follows the People’s Bank of China who have allegedly issued similar warnings and have recently “banned” some ICO’s although experts say this ban was temporary.
You can read more about this here.
THINGS I LIKE
How A Guy Snatched 153,037 ETH After A Bad Tinder Date
Some guy gives us an account of how he snatched 153,037 Ether after a bad Tinder date.
Unethical? Probably. Good read? Definitely.
You can read his article here.
Guide on Privacy Coins
Bearish times are good times for learning, so here's an article with a comparison of anonymous cryptocurrencies. Hopefully it's not too much of a Monero shill.
You can check it out here.
My Current Sentiment: Bearish
Daily Number Indicator
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