This Bitcoin Dip Was Not Caused by FUD

While there was plenty of FUD flying around, it wasn’t the real reason prices pulled back so significantly.

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While there was plenty of FUD flying around, it wasn’t the real reason prices pulled back so significantly.

This episode is sponsored by Nexo.io.

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Today on the Brief:

Home sales up, home supply down
Biden’s first test on the stimulus
Euro pessimism

Our main discussion: Why the bitcoin dip wasn’t caused by FUD.

Anyone paying attention this week had reasons for frenetic worry. Janet Yellen’s comments on criminal activity. Persistent questions around Tether. A non-story about a double-spend that got amplified by mainstream media.

In this episode, NLW argues that none of these actually explains the dip. Instead, he argues, they were used by sophisticated traders to amplify the dip’s impact.

Image credit: Nuthawut Somsuk/Getty Images Plus

HOSTS

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.