Michael Saylor Bitcoin - CRYPTO CRASH! Bitcoin Prediction & Why BTC will WIN.

Michael Saylor Bitcoin - CRYPTO CRASH! Bitcoin Prediction & Why BTC will WIN.

So Bitcoin just dipped over 10% out of nowhere - at one point to as low as $43,000

Although this flash crash does looks like a classic liquidation wave, in which investors stop losses get triggered, triggering even more selling which causes more stop losses to get triggered causing more selling and the cycle continues on.

Another reason that likely contributed to the crash was some news shared by Coinbase, the largest United States based cryptocurrency platform. Sharing on twitter, the CEO Brian Armstrong, detailed some dodgy behaviours from the Securities exchange commissions in dealing with Crypto related products.

Although the thread is massive, in a nutshell, the SEC put a ban on Coinbase offering yield or interest on crypto assets. They also subpoenaed Coinbase and demanded testimonies and threaten to SUE Coinbase if they proceeded with these products. There are a few more details in his thread, however it is a 21 part story, if you want to read the full thing, I’ll leave a link to it in the description.

To sum it up, Brian Armstrong tweeted, 'We’re being threatened with legal action before a single bit of actual guidance has been given to the industry on these products.’

Although this wasn’t fully responsible for the crash of Crypto, it definitely contributed. What this signalled is that there is still a lot of regulatory risk and not much clarity when it comes to the crypto space, and it definitely spooked alot of investors.

About Michael Saylor:

Michael J. Saylor is an American entrepreneur and business executive, who co-founded and leads MicroStrategy, a company which provides business intelligence, mobile software, and cloud-based services. Saylor authored the 2012 book The Mobile Wave: How Mobile Intelligence Will Change Everything.