Following the surge in Bitcoin’s USD price after the suspension of the SegWit2x hard fork, the cryptocurrency has collapsed as traders exit ‘fork dividend’ trades.
Dennis Gartman had a few words of praise for the bulls right before the collapse…
Well “bully” for Those Who’d Gotten It Right: Our “position” on Bitcoin and the other cryptos is clear: we shall have nothing whatsoever to do with them, but “good on” those who’ve been long and right; but be careful… all Bubbles eventually end in tears.
As bitcoin fell, Bitcoin Cash – a clone of the original that was generated from another split on Aug.1 – surged, trading up as much as 35%, ahead of this weekend’s launch of Bitcoin Gold.
…also from ZeroHedge:
“This Looks More Frightening”: Global Stock, Bond Selloff Accelerates Amid Risk-Parity Rumblings
