Daily Market Update - June 22, 2020

$BTC 24 Hour High $9,401.11 $BTC 24 Hour Low $9,299.73 $BTC -0.34%


Total Market Cap $268.2 BN (+0.71%) 24 Hour Volume $59.1 BN (+3.14%) Notable Movers SwissBorg (CHSB) (+18.93%) BTC Dominance 64.6% (-0.31%) Bitcoinist says a big BTC price action is highly imminent, while NewsBTC believes that Bitcoin’s price is likely to rise to $9,500 after remaining stable above $9,220. However, it also warns that a big “sell wall” is currently preventing a rally. Cointelegraph ponders whether it’s “time to worry,” as $930 million in BTC options are expiring on Friday.


BTC ‘Heading to Zero’ Investment guru Jim Rogers has warned that Bitcoin “will be in decline eventually and everything will go to zero.” Why, you may ask? Because governments have guns. He’s been a crypto skeptic for quite a long time. Even back in November 2017, just before BTC hit all-time highs, he warned the crypto “looks and smells” like a bubble.


Where’s the Volatility?! It’s oh so quiet. Bitcoin has hit its lowest volatility levels in eight months — and investors are split over where it’s heading next. Some analysts say BTC needs to retain support at $9,200 if there’s any chance of sustaining bullish momentum. Others warn a lack of interest means Bitcoin now has a fair value of under $7,000.


$90M Found Police in New Zealand have recovered $90 million linked to alleged Bitcoin launderer Alexander Vinnik. Cops say the money recovered is “likely to reflect the profit gained from the victimization of thousands.” Unfortunately, it may still only be a drop in the pond. “Mr. Bitcoin” is accused of laundering 300,000 BTC over six years through BTC-e.


Legacy Markets; Stock-market legend who called 3 financial bubbles says this one is the ‘Real McCoy,’ this is ‘crazy stuff

Jeremy Grantham, co-founder and chief investment strategist at Boston-based money manager Grantham, Mayo, Van Otterloo & Co., offers up a major warning to speculators driving the stock market to new heights amid the greatest pandemic of the past century.

‘My confidence is rising quite rapidly that this is, in fact, becoming the fourth, real McCoy, bubble of my investment career. The great bubbles can go on a long time and inflict a lot of pain but at least I think we know now that we’re in one. And the chutzpah involved in having a bubble at a time of massive economic and financial uncertainty is substantial.’


Gratham painted a very dire picture of the investment landscape in the U.S., suggesting that rampant trading by out-of-work investors and speculative fervor around bankrupt companies, including car-rental company Hertz Global Holdings Inc. HTZ, -18.25%, reflects a market that may be the most bubblicious he’s seen in his storied career.




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