This Bitcoin Dip Was Not Caused by FUD

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While there was a lot of FUD floating around, that wasn’t the real reason prices fell so sharply.

This episode is sponsored by Nexo.io.

Today on the letter:

  • Home sales are rising, home supplies are falling
  • Biden’s first stimulus test
  • Euro pessimism

Our main discussion: Why the bitcoin dip wasn’t caused by FUD.

Anyone paying attention this week had reasons for hectic worry. Janet Yellen’s comments on criminal activity. Persistent questions about Tether. A non-story about a double issue reinforced by the mainstream media.

In this episode, NLW argues that none of these actually explain the break-in. Instead, he argues, they were used by skilled traders to amplify the effects of the dip.

See also: First Mover: Bitcoin ‘Double-Spend’ FUD gives newbies a volatility hour

Photo credit: Nuthawut Somsuk / Getty Images Plus