Unless you live in a cave you might have heard of a bit of ‘bearish’ action in crypto markets. Last night BTC crashed to just US$31,000 taking the total correction to just under 50% from the 10 May high of US$59,200. Whilst bouncing strongly back, at US$39,500 now it is still down 33%. Ethereum hit US$2000 overnight, also down over 50% from its 12 May high of $4357. Conversely from 7 May when gold finally broke through US$1800 it has rallied to be now US$1870, barely unchanged in last night’s session after reaching US$1890 overnight amid all the market chaos that also saw US shares in the red again. Indeed the only thing demonstrably in the green last night was the USD after the Fed spooked the market with hints at possibly tapering stimulus. We discuss
