It’s being reported by Sputnik News and other sources that Japan has declared Bitcoin to be legal tender. Unfortunately, I have not been able to quickly confirm this through Japanese sources. The use of BTC as legal tender in one of the world’s leading economies is a big plus for Bitcoin, and likely to lead to a much more rapid pace of adoption. Volume is strong on increasing price.
Via Dana Lyons' Tumblr,
Despite the major averages’ continued drift near all-time highs, volume moving into advancing stocks has been historically light.
With nearly a record 40 days of the S&P not having an intraday swing of 1% or more, traders - desperate for volatility - are fuming at a market that has apparently flatlined. They are not alone: as JPM's Adam Crisafulli writes in his overnight piece, "it was once again a night of nothing", and no matter what happens, "nothing is changing the equity narrative", which for now is to barely budy on any given day.
Here is the key excerpt from JPM's (appropriately boring) overnight note:
So much for the much anticipated "Twitter president" bounce.
Asian stocks hit their highest level in 18 months, with positive momentum lifting European shares which were helped by Societe Generale earnings. Yields fell on some of the euro zone's battered low-rated bonds as investors put aside the political risks that have dominated markets this week. After trading flat, S&P futures bounced as US traders walked boosted by a spike in the USDJPY, ahead of earnings reports from Coca-Cola, Reynolds American, CVS Health, Nvidia and Twitter.