๐ Key Points:
- "Black Swan" Author Taleb on Bitcoin Crash
๐ฅ Nassim Nicholas Taleb, renowned for his book "Black Swan," has shed light on the recent Bitcoin crash. According to Taleb, the crash was triggered by the sudden downturn of Japan's Nikkei 225 stock index, which plummeted following an unexpected interest rate hike by the Bank of Japan.
๐ฆ Taleb explains that the Bank of Japanโs long-standing policy of maintaining near-zero interest rates for 33 years, coupled with 23 years of quantitative easing, has finally caught up with the market. He suggests that these financial measures, though intended to stabilize the economy, have ultimately led to this "market bloodbath."
โ ๏ธ Taleb warns that "all of these measures come at a price you eventually must pay," indicating that such prolonged interventions can have severe consequences, as evidenced by the recent events.
- SHIB Burns Skyrocket 708%
๐ฅ The SHIB community has witnessed a dramatic increase in the burn rate of SHIB tokens, with a staggering 708% surge recorded. This spike was driven by the destruction of 2.7 million SHIB tokens, including a single transaction that moved 2 million tokens to a dead-end wallet.
๐ This burn activity has had a noticeable impact on SHIB's market performance. After a prolonged slump, SHIB's price rebounded by 25.88%, reaching $0.00001393. Although the price has slightly decreased since then, currently trading at $0.00001324, the community remains optimistic about a potential recovery.
- BlackRock Stands Firm Amid Market Turmoil
๐ผ As the crypto market faced a significant downturn on the first Monday of August 2024, BlackRock, one of the world's leading asset management firms, made headlines by refusing to sell its Bitcoin holdings.
๐ช Despite experiencing an 8% loss in the previous week and another 14% drop on "red Monday," BlackRock demonstrated its strong conviction in the long-term potential of Bitcoin by holding firm. Bloomberg Senior ETF analyst Eric Balchunas highlighted that BlackRock's decision not to sell, even during severe market distress, underscores their confidence in the digital asset's future.
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