Gold 1860,07
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EURUSD 1,2129
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DJIA 34273
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OIL.WTI 72,435
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DAX 15745,50
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A few days ago in our BTC newsletter we noted the following. The market goes down on the bad news that comes out almost every day. Then it tries to rebound and gets another bad news again. We made a pretty reasonable assumption.
BTC
That bad news will end sooner or later, it cannot be generated all the time. And the market will go straight up. That is exactly what has happened in the last 2 days. There is simply no new negative news. But there are a number of positive news.
The most significant of which is the following. Finally Elon Musk has been forced to make excuses. It is already clear to everyone that his tweets are market manipulation. But the other day he was accused of this by the CEO of a large company from South Africa, with a personal fortune of over 1 billion dollars.
Here Elon Musk couldn’t keep quiet and responded. It turned out that Tesla had sold only 10% of its bitcoins. And this was motivated by a desire to clarify market liquidity. As if a few hundred million dollars could significantly shake that liquidity or collapse the price. But tweets can certainly bring it down.
Moreover, Elon Musk has stated that Tesla will again start accepting bitcoins as payment for cars in the future. As soon as the mining of the first cryptocurrency becomes more environmentally friendly. I believe he has stated this before. But the difference is exactly in the emphasis. Back then it was that Tesla was refusing to pay in BTC because of environmental concerns. And now it says that in future such payment will be accepted again after these problems are solved. Does it seem the same to you? Yes, it is! A sleight of hand. And another manipulation of the market.
Bitcoin went up to $41,000. What matters here is that the first cryptocurrency is above the $40,000 mark, where it has long failed to gain a foothold. If there is no more “bad news” on the market in the coming days, the upward trend can be expected to resume.
04.00 China retail sales for May
14.30 Canadian Consumer Price Index for May
20.00 US Federal Reserve Bank interest rate decision
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