In the struggle for power and control, the bullish forces ignored corruption and government intervention and rose up to take Bitcoin (BTC) to a new high for the move.
Those who switched from bullish to bearish off the NY AG news are temporarily looking foolish. The next move for this camp is not certain. Corruption is usually a problem — until it isn’t.
Cooperation from allies like gold and stocks are helping. Both are rallying. Perhaps the best news is the recent candlesticks in the US Dollar index (DXY) hint a top for the dollar is at hand (Figure 1).
Bottom Line: Perceived corruption and deception at Bitfinex and Tether favored Bitcoin (BTC) bulls. What a twist.
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