This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COBecause of the Memorial Day Holiday yesterday, today's podcast with Charlie Lee has been postponed until tomorrow!During the recent FUD (fear, uncertainty, doubt) storm, rumors circulated across major news sources that India was gearing up to propose a law to ban cryptocurrencies. Essentially this would force the citizens to either hide their holdings or liquidate their stacks. The crypto market consumed the FUD, strengthening the sell-off during the storm. As tends to be the case, it turned out it was all rumors. The Reserve Bank of India released an official statement below, which cleared up the confusion.“It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018. Such references to the above circular by banks/ regulated entities are NOT IN ORDER as this circular was set aside by the Hon’ble Supreme Court.”This statement means that the India FUD that was spread was based on outdated orders. There was no new ban, just an expired ban that the media hijacked for their narrative. This announcement does not mean India now loves crypto; it is only stating that the cautions on crypto in India are unfounded in law.The whole stunt was a typical maneuver, pulled conveniently out of the bears' bag of tricks, and was one that really fooled everyone because even exchanges in India were acting on the news. This is further evidence that the FUD storm was, and is, a coordinated attack on crypto, rather than just random bad information. Someone smart wants to buy cheaper, but the market can't be shorted forever.This reminds us to always be skeptical of what we read, especially if it's clear that the news is piling on at an opportune moment. We ALWAYS see the negative news compounding when price is depressed - the media and world love to kick someone when they are down, even if the narrative is utterly false.I look forward to the next positive Bitcoin news cycle, but it is notable that almost all news about Bitcoin has seemingly come to halt - it is eerily quiet.In This Issue:India Ban On Crypto Is FUDBitcoin Thoughts And AnalysisHow You Should Decide What To Invest InYou Can Use Your Coinbase Card With Apple Pay And Google PayBitcoin ETP Launching on London ExchangeMiners Are On Board With Bitcoin’s UpgradeInterview With Finance MagnatesMy Recommended Platforms And Tools
The Wolf Den #254 - No India Ban
The Wolf Den #254 - No India Ban
The Wolf Den #254 - No India Ban
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COBecause of the Memorial Day Holiday yesterday, today's podcast with Charlie Lee has been postponed until tomorrow!During the recent FUD (fear, uncertainty, doubt) storm, rumors circulated across major news sources that India was gearing up to propose a law to ban cryptocurrencies. Essentially this would force the citizens to either hide their holdings or liquidate their stacks. The crypto market consumed the FUD, strengthening the sell-off during the storm. As tends to be the case, it turned out it was all rumors. The Reserve Bank of India released an official statement below, which cleared up the confusion.“It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018. Such references to the above circular by banks/ regulated entities are NOT IN ORDER as this circular was set aside by the Hon’ble Supreme Court.”This statement means that the India FUD that was spread was based on outdated orders. There was no new ban, just an expired ban that the media hijacked for their narrative. This announcement does not mean India now loves crypto; it is only stating that the cautions on crypto in India are unfounded in law.The whole stunt was a typical maneuver, pulled conveniently out of the bears' bag of tricks, and was one that really fooled everyone because even exchanges in India were acting on the news. This is further evidence that the FUD storm was, and is, a coordinated attack on crypto, rather than just random bad information. Someone smart wants to buy cheaper, but the market can't be shorted forever.This reminds us to always be skeptical of what we read, especially if it's clear that the news is piling on at an opportune moment. We ALWAYS see the negative news compounding when price is depressed - the media and world love to kick someone when they are down, even if the narrative is utterly false.I look forward to the next positive Bitcoin news cycle, but it is notable that almost all news about Bitcoin has seemingly come to halt - it is eerily quiet.In This Issue:India Ban On Crypto Is FUDBitcoin Thoughts And AnalysisHow You Should Decide What To Invest InYou Can Use Your Coinbase Card With Apple Pay And Google PayBitcoin ETP Launching on London ExchangeMiners Are On Board With Bitcoin’s UpgradeInterview With Finance MagnatesMy Recommended Platforms And Tools