Bitcoin slid over 7% and at one point printed below the $41,000 level. The price has stabilized at $BTC which is just over these levels.
The moves come after a 12% advance for Bitcoin in December. This came as expectations grew that the U.S. Securities and Exchange Commission could approve the first spot bitcoin exchange-traded fund in early January. We also had Jamie Dimon in the news again. During a hearing, Senator Elizabeth Warren set him off on a litany of accusations against crypto. He has never been a fan, but to see such hatred in 2023 is still astonishing.
He reverted to his old smear tactics and pointed to the dark side of crypto where in his words terrorists, drug traffickers, and rogue nations allegedly dance a wicked crypto tune. Dimon's concerns are the speed and stealth of digital assets which allows funds to move around the world almost instantaneously. I can acknowledge there are bad sides to crypto, but to say that sentence and not realize the greatness in the ability to transfer money around the world almost instantaneously for such a low cost can't be unnoticed. I for one think his tune is not actually a problem with crypto, but rather a problem of him loosing power which comes in the form of control over traditional assets.
This is type of language and unterlying issues with crypto seem to be the same arguments Gary Gensler has been making. It seems the cooperate elites and intrenched regulators all see the power crypto could have. They see it as a negative where I see that as a positive .
In other news $HIVE took a hit with the recent Bitcoin drop.
I actually stopped my powerdown on the drop as I think it's going to take some time to see the bull run I was expecting to play out. I don't think the move will happen until early next year so I want to earn that juicy APR and curation while we setup for the next big move.
