Blockchain and Cryptocurrency: People, Culture and Tech
In his Sept. 7 tweet, Schiff also started a poll asking Twitter: “Whose advice do you want to follow? A 57-year-old experienced investor/business owner who's been an investment professional for over 30 years or an 18-year-old college freshman who's never even had a job.”
Bitcoin started a new week’s trading by edging closer to $12,000 — but there’s plenty of pressure to sink prices lower. On Thursday, the U.S. Federal reserve will issue a statement that could push safe havens up considerably.
As confirmed by price trackers including CoinMarketCap, a correction took hold during trading later on August 18, culminating in a dive to $11,620. A subsequent bounce put BTC/USD closer to $11,900, with press-time levels circling $11,880.
Previous weeks were marked by macro volatility dictating Bitcoin price movements. The assets’ correlation is well documented, with Bitcoin and the S&P 500, for example, 95% correlated. Both this week and last, however, the pattern of copycat moves was conspicuously broken. Bitcoin is gaining over stocks, which are by contrast much less volatile.
