Daily Digest 9/13

Newsletters
Written By Guest User

Insight on the biggest news and charts that provide context for whats going on in the market today.

MicroStrategy Buys 5,050 More BitcoinsMicrostrategy continues to accumulate as much BTC as possible bringing their total to 114,042 BTC worth about $5.1 billion.The company has bought 8,957 BTC in the past quarter.Big institutions continue to accumulate more BTC and they may be more inclined to hold rather than sell. This will cause BTC and ETH to continue to decrease in in circulating supply.Bitcoin Eyes US Inflation Report, Potential Dollar Liquidity SqueezeAs we may be thankful at the time for the stimulus checks it can also be tough for the economy going forward as inflation continues to increase.Among other factors in May that led to the crash of the crypto market there was also the announcement of the consumer price index revealed a three year high in the inflation rate.Expert traders and investment banks are thinking that in the coming weeks that investors will be more risk averse if we have another poor report on the inflation side.Fake news: Litecoin price surges 35% following Walmart adoption hoaxHuge news pumped the market this morning when it was announced that Litecoin was partnering with Walmart as a means of payment; however, this partnership would turn out to be fake news.Once word hit the street the immediate pump took a sharp drop from $230 - $180 with a 4 hour volume of over 1 million LTC traded.LTC whales were very active in that period moving millions of dollars around but it is not known if some of them had anything to do with this.This news also caused a huge spike in social volume which could also be a reason for the quick increase and decrease in price.

MicroStrategy Buys 5,050 More Bitcoins

  • Microstrategy continues to accumulate as much BTC as possible bringing their total to 114,042 BTC worth about $5.1 billion.

  • The company has bought 8,957 BTC in the past quarter.

  • Big institutions continue to accumulate more BTC and they may be more inclined to hold rather than sell. This will cause BTC and ETH to continue to decrease in in circulating supply.

Bitcoin Eyes US Inflation Report, Potential Dollar Liquidity Squeeze

  • As we may be thankful at the time for the stimulus checks it can also be tough for the economy going forward as inflation continues to increase.

  • Among other factors in May that led to the crash of the crypto market there was also the announcement of the consumer price index revealed a three year high in the inflation rate.

  • Expert traders and investment banks are thinking that in the coming weeks that investors will be more risk averse if we have another poor report on the inflation side.

Fake news: Litecoin price surges 35% following Walmart adoption hoax

  • Huge news pumped the market this morning when it was announced that Litecoin was partnering with Walmart as a means of payment; however, this partnership would turn out to be fake news.

  • Once word hit the street the immediate pump took a sharp drop from $230 - $180 with a 4 hour volume of over 1 million LTC traded.

  • LTC whales were very active in that period moving millions of dollars around but it is not known if some of them had anything to do with this.

  • This news also caused a huge spike in social volume which could also be a reason for the quick increase and decrease in price.

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