Has Crypto Grown In 2018?

So it seems, the two worlds of crypto and global politics have finally collided. Over the last 24 hours, I have seen several crypto analysts trying to blame bitcoin's fall below $3,680 last night on the US Government Shutdown.

Their logic is that due to the shutdown, we may see a delay in the launch of Bakkt. As Bakkt is still pending regulatory approval many think that the shutdown could affect this timeframe. Furthermore, many people now seem certain that the delay will last about two weeks.

Going into the seventh day of the shutdown today, it remains unclear when it will be over. There might be a deal today or the shutdown could potentially drag on for months, we simply don't know.

Despite the speculation, I haven't seen any indication that the specific offices responsible for Bakkt's regulatory approval will not be operating during the shutdown. As far as I understand, the government is still operating at partial capacity and financial regulators may just continue operating as normal.

Furthermore, and more importantly, I don't think that any crypto investor is really going to start selling coins they've been holding for more than a year over a two-week delay. We really need to stop watching ETFs and institutional products as our primary indicator for industry success.

Traditional Markets

This week has been an absolute roller coaster for the stock market. The reduced liquidity during the holiday season is really getting to them and the swings are quite wild. This has been by far the most fun I've had trading all year and today being Friday could potentially be extra special.

Yesterday started out pretty glum. After the monster rally from Wednesday, it almost looked like we were slipping back into the bear market, as indices were down more than 2%. Suddenly, a single uptick developed into some powerful surges and by some miracle, the Dow Jones ended with a gain of more than 1%.

I have no idea what actually happened inside the purple circle below but whatever it was, woke everybody up.

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Please note: All data, figures & graphs are valid as of December 28th. All trading carries risk. Only risk capital you can afford to lose.

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