U.At the moment – Sean Ono Lennon, the second son of legendary Beatle John Lennon and musician, is a vocal supporter of cryptocurrencies. In his first interview in 2020, he mentioned that BTC gave him hope when the world was hit exhausting by the pandemic.

Lennon's tweet concerning the inventory market crash

Sean Lennon sometimes tweets about cryptocurrency initiatives he finds fascinating, however on Aug. 6, he addressed the problems that contributed to Bitcoin's 24% worth crash that ended on Tuesday and the inventory market's decline.

Lennon referred to as on the US authorities to touch upon the inventory market crash, including that the X group deserved “slightly bit of dialogue, slightly little bit of reassurance.”

As beforehand reported, issues received even worse for the Japanese inventory market final week, primarily as a result of Financial institution of Japan's rate of interest hike, after which the US inventory market additionally plummeted.

Bitcoin responded to the market crash with an enormous drop, dragging the remainder of the cryptocurrency market down with it.

Writer of “Black Swan” feedback on Japan's inventory market crash

Earlier this week, threat analyst, tutorial and creator Nassim Taleb (creator of the “Black Swan” idea and the e book of the identical title on managing uncertainty in markets and in life) additionally commented on the inventory market collapse going through Japan.

Taleb famous that for the previous 33 years, Japan has stored rates of interest close to zero and easily added quantitative easing to the combination, all of which “has a worth that in the end must be paid,” he concluded. He added that Japan has all the time been cited by QE advocates as “a spot the place this technique has labored.”

This text was initially printed on U.At the moment