The Decoupling? Bitcoin Rallies 17%+

Plus many watching the upcoming Steem hard fork

Happy Thursday, Blockfolians

The Lede

Let’s start with the thing: bitcoin is up 17%+ on the day at the time of writing.

We discussed yesterday how bitcoin holding flat was reigniting debates around the narrative, and now there is a new term that everyone is discussing: decoupling. It is the idea that, while the selloff was driven by institutional investors forced to liquidate positions to get to cash, we’re now seeing a separation between bitcoin and stocks.

For our money, it’s a little too early to adopt any narrative whole hog…but we gotta admit, this looks good.

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Highly Relevant Reading

  • In the latest in the STEEM-Tron drama, Binance and Huobi announce support for new HIVE hard fork

  • Huobi becomes first crypto exchange to launch circuit breakers in the wake of last week’s market crash

  • The latest entrant to the decentralized storage market, Storj goes live

  • Hawaii is making it easier for crypto entrepreneurs with the introduction of a new two-year regulatory sandbox program


Community Commentary

Not just STEEMers are watching the outcome of their hard fork with anticipation.
Bitwise CEO sees the decoupling

A Really Big Number We Should Be Paying Attention To

$100,000,000

That’s the target size for a new blockchain and digital asset hedge fund launched by a former Nasdaq strategist. Glad to see activity like this even in a tought market.


Final Though

Everyone else can go home. This is the quarantweet of the crisis.

Stay safe out there!

Image result for bitcoin rollercoaster up