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.
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.
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