ANDIKA BULLETin 20 AUG 2024

US equities rallied for the 8th straight day session (despite Leading Indicators slumping for the 29th straight month), with Nasdaq up 13% off its post-yen-carry-chaos lows - the longest win streak since Nov 2023.

Small Caps and Nasdaq led the rip today, The Dow lagged, but all the majors were higher. The last few minutes of the overnight session saw yet more panic-buying pressure...

Meanwhile, The US dollar continued its collapse (Aussie up), as the DNC unveiled its Kam-unist manifesto but Gold managed to build it's position over USD$2,540

But I have found a difference between the Trump camp and the Harris circus - Crypto.

The Democratic Party's official 2024 platform was released today on day one of the Democratic National Convention, without any mention of Bitcoin or cryptocurrency.

This decision aligns with the past four years of the Biden-Harris administration's hostility towards the industry.

Despite the growing significance of Bitcoin and digital assets, neither Kamala Harris or Tim Walz, who are running for president and vice president in the upcoming election this November, has prioritised the inclusion of Bitcoin and crypto in the party's agenda.

In contrast, the Republican Party has embraced Bitcoin, making it a central part of their platform.

They have pledged to end what they describe as the Democrats’ "unlawful and unAmerican crypto crackdown" and oppose the creation of a Central Bank Digital Currency (CBDC). Additionally, the GOP vows to protect the right to mine Bitcoin, ensure Americans can self-custody their digital assets, and maintain financial privacy from government surveillance.

As the 2024 election approaches, the absence of Bitcoin and crypto from the Democratic platform may influence the vote of an estimated 50 million Bitcoin and crypto holders across the country, who are looking for the best candidate to champion their cause.

This November Crypto is also on the ballot.

Happy Tuesday!

This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.

This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.

This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).