Bitcoin: Profit Taking or Panic?

One Bitcoin goes for $3,025 at writing this morning. Is that expensive? By the time you read this, Bitcoin could be under $3,000. It could be above $3,250. This market moves fast.

Bitcoin over the last week:

Bitcoin chart

J.P. Morgan CEO Jamie Dimon this week confirmed he’s no fan of Bitcoin. Cryptocurrency enthusiasts the world round sprang into action.

A choice quote from one response, “Who got bailed out by the government? Bitcoin or J.P. Morgan?”

For the record, the Feds would tell us, it was a capital injection. Not a bailout.

In all seriousness, the ground is shifting beneath Bitcoin’s feet right now.

When CEOs of major financial institutions spend time talking down Bitcoin, it’s clear Bitcoin has the banker-financial complex concerned.

Plus Fortune, CNBC, Reuters, and others this week all covered the decision of Chinese regulators to ban domestic cryptocurrency platforms.

Nonstop chatter here in our offices about Bitcoin, the ICO markets, crypto in general.

Is it money. Is it better than gold. Will it become the preferred medium of exchange in the future.

The debate rages on.

“Admin” + “Admin” = Failure

CNBC reports Equifax’s website in Argentina could be hacked with the username and password of “admin” and “admin.”

One good thing that could come from the Equifax data breach fallout is heightened awareness of personal data security and the measures you can take to protect yourself.

Use strong passwords. Don’t use duplicate anything. Check your credit report.

This Equifax story’s different than data breaches in the past. It’s not going away. It’s not calming down. The sheer amount of data involved in this breach guarantees headaches for consumers for months to come.

Looking abroad, CNN reports this morning 18 people have been taken to area hospitals after a small explosive device detonated on a train in London.

NBC and other outlets report that last evening North Korea launched another ballistic missile “over Japanese airspace.”

Seems every time North Korea falls out of the news, another missile launch grabs a headline. It’s almost like this is one big, ongoing PR stunt.

Market Rundown for Friday, September 15

S&P 500 Futures are essentially flat this morning.

Oil’s at $49.96. Gold at $1,326. Soft week for gold.

80% chance of a correction in the next 12 months, you said.

You think it could begin with stocks like this?

Tesla (NASDAQ: TSLA) over the last month:

Tesla chart

Tesla makes cars. It doesn’t make money. Does that matter?

Talk to you again on Monday.

For the Rundown,

Sincerely,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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