Fundstrat Lead Analyst Thomas Lee shared his worst nightmare on Twitter and it involved the U.S. President placing a ban on Bitcoin.
Is Libra Dragging Bitcoin Down?
As the US Congress and Senate hearings on Facebook’s Libra cryptocurrency wrapped up, members of the Trump administration shifted their gaze onto Bitcoin and cryptocurrency as a whole. During both hearings a number of lawmakers openly aired their opinion that Libra should never be allowed to launch. Even more concerning, on Thursday US Treasury Secretary Steven Mnuchin made media waves when he told CNBC Squawk Box that the U.S. government intends to implement “very, very, strong” regulations on cryptocurrencies to ensure they do not become “Swiss-numbered bank accounts”.
For cryptocurrency investors, these mutterings generated mixed emotions and some are fearful that the government generated FUD could put a permanent dent in what many are interpreting as the start of a bull market.
Lee’s Worst Nightmare
Fundstrat head analyst Thomas Lee appears to…