[frankbreetz]

Strangely, crypto has gone up in spite of this news. This seems worse then China banning mining, which caused a pretty significant drop earlier this year.

Why would this not effect the market in a similar fashion. As far as I understand it, this effectively bans crypto mining in the US. Am I missing something?

[csomar]

If you think the crypto-market moves on news, then you have missed on some sweet gains. The news effect is getting reduced since every single time it proves that it doesn't matter.

Bitcoin price is lead mainly by retail demand. Speculators are quick to panic on the way down, but the return of retail demand end up in a new bubble. This is mostly the byproduct of lack of faith on the foundations of the price. These effects are less felt now that the market has matured.

Of course this is purely my opinion and observation. So take that with a bag of salt.

[cblconfederate]

Rush to buy before regulatiob kicks in? I mean the whole crypto rallies until now were not because of government help . Until recently banks would close your account if you bought cryptos

[sumeno]

Because whenever there is bad news for cryptocurrency Tether prints a billion dollars worth of coins out of thin air to artificially inflate the price of BTC

[jondwillis]

I am no fan of the ongoing Tether fraud and share this view, however, instead of cynically declaring this to be the case, it'd be nice to see evidence of that occurring right now.

[sumeno]

https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903

https://twitter.com/whale_alert/status/1424484871737692161?s...