Why Bitcoin $BTC Crashed | Midas Letter Today ft $NUR
Crypto markets have been taking a beating lately. The latest drop comes after deadly protests hit Kazakhstan resulting in power outages and a halt to the country’s rapidly expanding crypto mining industry. Kazakhstan accounts for around 18% of the global bitcoin output. The internet shutdown prevented miners from accessing the bitcoin network and dropped BTC and crypto prices.
If electricity can manipulate the price of a Bitcoin so dramatically and quickly, does this call into question the validity of its use as a currency?
James West diagnoses cryptocurrency weaknesses, the stock market today (January 10, 2022), pandemic factors on the future of markets, commodities, and tech stocks.
Today’s special guest is NuRAN Wireless Inc (CNSX: NUR, OTCMKTS: NRRWF) President and CEO Francis Létourneau
NuRAN recently announced a US$15M agreement with a development finance institution to fund its Cameroon & DRC projects. The CEO discusses the disruptive network-as-a-service (NaaS) telecom company’s latest developments and how its recurring-revenue contracts make the company’s shares undervalued.
Transcript
00:00 – Midas Letter Daily
00:40 – Crypto markets
01:35 – Why did $BTC crash if scarcity was created from Khakhstan power shortages?
03:35 – $BTC chart
04:25 – Coming up
04:30 – NuRAN Wireless $NUR $NRRWF US$15M financing news
04:55 – $ETH, $LUNA, $LINK charts
05:31 – Crypto as a currency?
06:20 – Crypto weaknesses
07:21 – Copper
07:49 – Inflation in commodities
07:57 – Lumber & real estate markets
10:50 – Pandemic factor on markets
16:05 – Bitcoin $BTC chart
16:13 – General markets
16:30 – S&P 500, Dow Jones, NASDAQ, VIX, US 10-Year
17:32 – Gold chart
18:29 – $AAPL chart
18:45 – $AMZN chart
18:59 – FAANG stocks
19:34 – Nuran Wireless $NUR $NRRWF interview
31:36 – $NUR chart
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