Crypto Research
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The Bitcoin Fear and Greed Index representing market sentiment in unchanged on the week. A LOOK AT CRYPTO ART A couple of years ago a friend called to ask me if CryptoKitties was a new digital currency because why else were people spending thousands of dollars buying them. CryptoKitties is a game, a Tamagotchi-like project, that allows players to collect and breed digital cats. What made this more interesting was the added feature allowing players to...
In our existing work from home environment, we have all discovered new technologies to help us adapt to this changing work lifestyle. However, I have found coronavirus has unintentionally marked the end of one of the great business innovations of the past twenty years, and has identified a major need in the acceptance of work from home technology, the latter which is being addressed through public-private key encryption like digital currencies....
PORTFOLIO STRATEGY Howard Marks, the CIO of Oak Tree Capital said something this past week that caught my attention: _“THERE’S NO ARGUMENT FOR SPENDING ALL YOUR MONEY NOW, BUT THERE’S ALSO NO ARGUMENT FOR NOT SPENDING ANY.” _ In many respects, this statement summarizes my continued view on the crypto markets. We’ve been recommending investors have exposure to the crypto markets for the past few months. Following the recent sell...
This week I watched Deep Web a 2015 documentary on Silk Road, the Darknet marketplace that was seized by the FBI in 2013. Considered the underworld’s version of Amazon, Silk Road was run by the pseudonymous Dread Pirate Roberts (“DRP”). The market site had over 1 million registered users, 10,000 products and is reported to have generated over $1 billion in sales. In the crypto world, Silk Road represents the sale of illicit products...
BTC – A VOLATILE WEEK BUT HOLDING KEY TREND SUPPORT AT THE 15-DMA WITH POTENTIAL TO CHALLENGE 7K Despite all the macro volatility spillover across markets, BTC’s short-term technical setup is improving with the potential to challenge and break-out above formidable trading resistance near 7K. After a roller coast ride over the past two weeks that included stalling under 7K resistance on 3/20 through 3/26, hitting an air pocket and...
Given the economic and social situation we are facing, there was understandably not as many April Fool’s Jokes as in prior years, but here is one from Bitfinex which made me laugh. https://twitter. com/bitfinex/status/1245246837038161930 The first response was just as good. https://twitter. com/XrpMoonCat/status/1245253120780795904 THE HEADLINES EXCHANGE, CUSTODY AND PRODUCT NEWS THOUGHTS ON THE ECOSYSTEM
Happy April Fools’ Day! Yes, the Trump and Craig Wright stories above are my poor attempt at prankish humor, but the Trump story is believable isn’t it. Thought I would start the day with some of my favorite April’s Fools Crypto pranks from past years and one from this year: BITCOIN CEO BAN CHINA – (2014) Coindesk posted a report that the CEO of Bitcoin, Dorian S. Nakamoto, had pre-empted a decision by the People’s...
The Bitcoin Fear and Greed Index repeated last week’s reading of “12” signifying negative market sentiment as investors remain worried about digital assets, but the rating is actually an uptick from yesterday when the daily metric slid to “10.” THE HEADLINES MARKET DATA EXCHANGE, CUSTODY AND PRODUCT NEWS
PORTFOLIO STRATEGY It continues to be our view that crypto markets are in the 2nd or 3rd innings of a prolonged recovery following their December 2018 bottom. The earlier months sell off likely flushed a significant portion of leverage and speculative short term traders out of the ecosystem, as we discussed on our FS Insight Digital Assets call earlier this week. This dynamic bodes well for reducing market downside risks...