From ‘Trading In The Zone’ – Mark Douglas
Archives of “May 26, 2021” day
rss‘Time to buy’ bitcoin adverts have been banned in the UK
The UK’s Advertising Standards Authority has banned commercials for BTC advertising:
“If you’re seeing bitcoin on the underground, it’s time to buy”.
The advertising watchdog said the ads were irresponsible and misleading.
Complaints said:
- the ads failed to illustrate the risks involved with investing and trading in bitcoin, which is unegulated in the UK, and was therefore misleading.
- and that the ads “took advantage of consumers’ inexperience or credulity”.
Info via UK media, link here for more
China financial media says further yuan strength expected – citing analysts
China Securities Journal reports that analysts expect yuan appreciating in the short term
Citing
- weakness in the USD
- China domestic economy recovery
- trade surplus
WSJ says “Ban Cryptocurrency to Fight Ransomware” (relax folks, its an opinion piece)
The Wall Street Journal editorialising on “The existence of bitcoin and the rest benefits nobody except criminals and speculators.”.
WSJ point to the latest (AFAIK) example of a ransomware attack, Colonial Pipeline. And:
- nearly 2,500 cases of ransomware reported to the Federal Bureau of Investigation last year
- ransomware victims paid hackers $350 million in cryptocurrency last year
Says the article:
- The solutions floated after the Colonial hack—improved cybersecurity in the private sector and public-private collaboration to protect critical infrastructure—are pro forma and inadequate. There is a simpler and more effective way to stop the ransomware pandemic: Ban cryptocurrency.
- Ransomware can’t succeed without cryptocurrency.
Here is the link for more. Which side of ledger do you fall? Iin the comments please!
Shady looking character:
ICYMI – Major China hub for Bitcoin mining issues harshest crackdown measures yet (draft at this stage)
Via state media mouthpiece Global Times in China:
- North China’s Inner Mongolia Autonomous Region issued what appears to be the harshest crackdown measures yet on mining activities
- possible revocation of licenses for telecom and internet companies that engage in cryptocurrency mining activities
- Big data centers and cloud computing firms could also face cancellation of policy support by the government if they engage in cryptocurrency mining activities
- draft measures at this stage
Link here to the GT for more.
BTC price is relatively (for it) stable:
US Indices close lower on the day. Dow snaps three day up streak
Modest losses
the major US stock indices are closed lower, giving up earlier gains. Highlights for the day include:
- S&P closes at 1% below all-time high
- NASDAQ 4% below all-time high
- Dow closes 2% below all-time high
- Dow, S&P on track for a monthly gain
- NASDAQ index on track for a monthly loss
The final numbers are showing:
- S&P index fell -8.94 points or -0.21% at 4188.14. The high price reached 4213.42. The low price extended to 4182.52
- NASDAQ index fell -3.99 points or -0.03% at 13657.18. The high price reached 13751.14. The low extended to 13631.80
- Dow fell -81.52 points or -0.24% at 34312.46. The hi it reached 34511.35. The low extended to 34266.03
Winners in the Dow 30 included:
The top 5 Dow 30 losers include:
Some other big winners today include:
While big losers include:
Thought For A Day
