Good morning traders, a new week has arriverd, so get your trading shoes on Do you remember Chad's shoes from this post? Yeah, those are the ones!
I had some time on the weekend and i stumbled on an interesting article - about what happenes when Bitcoin’s market cap overtakes world GDP?
Besides the question in the title, the article points out many obvious things, among which are: what the house not winning has pushed the markets to, where will we be going and potential future scenarios and finally comparing it to video gamers. Give it a read, it's an interesting one
Via Financial Times - Alphaville. Article could require registering, in which case search the title on Google
Apparently the Bitcoin networks power usage not as big as made to seem. Compared to gold, we're at a rather infant stage. All FUD, rather than actual facts. I admit i have shared an article here and there about the massive power consuming by the BTC network, so let's get to view of the other side now.
Via CoinTelegraph
Coinbase and GDAX (same thing) have started warning their clients via e-mail. This comes after last weeks Coinbase mishap, where it's users drove up the price of Bitcoin almost to 20K, whereas other exchanges most we're sitting below 16000 USD per BTC. Subsequently, when reaching the top, Coinbase website went offline for several minitus, and within that timeframe, the price dropped several thousand points lower. I can only imagine the number of horrified bagholders, who have bought Bitcoin at 19500 USD, when we are currently sitting appoximately 5000 points or 25% lower.
Let's have a look at the Economic calendar of this week. On Monday and Friday we can peace out, but Tuesday-Thursday is riddled with heavy-hitting events. We have the FED, SNB, BOE and even the ECB, all out with their rate decisions and statements. Take care this week
Economic calendar by Forex Factory
And finally, our favorite celebrity, Dwayne Johnson is going to receive his own star on the Hollywood Walk of Fame. The Rock has a message for you all. Got to love the man.
Check the short video here