Bitcoin (/BTC) Sell-Off From Government Crackdowns And Pipeline Hack

Bitcoin's (/BTC) sell-off can be attributed to: (1) energy use and Elon Musk, (2) government crackdowns, and the (3) Colonial Pipeline hack, says Peter Tchir of Academy Securities. If bitcoin goes to $10K or $15K it's not going to have big, broad market implications except for maybe the NASDAQ, creating a buying opportunity in the markets, adds Peter. Peter has been trading on the short side and thinks there is more downside in the markets.

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Bitcoin (/BTC) Sell-Off From Government Crackdowns And Pipeline Hack

Bitcoin's (/BTC) sell-off can be attributed to: (1) energy use and Elon Musk, (2) government crackdowns, and the (3) Colonial Pipeline hack, says Peter Tchir of Academy Securities. If bitcoin goes to $10K or $15K it's not going to have big, broad market implications except for maybe the NASDAQ, creating a buying opportunity in the markets, adds Peter. Peter has been trading on the short side and thinks there is more downside in the markets.

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