The crypto market is starting to look a little more stable as Bitcoin and Ethereum have both seen some positive momentum.
The Staples Center will be renamed the Staples Center. BBC’s Crypto.com Arena: The critical juncture has come. Takeaway for investors: Expect everyone you know to get interested in crypto investment all of a sudden. We’ve entered the mainstream.
India’s Crypto Regulations (Economic Times): India will prohibit crypto payments, prohibit crypto advertising, and permit crypto investing. Takeaway for investors: This is generally good news for us since it lends the government’s seal of approval to crypto investment. Thank you, India, for being a trailblazer in terms of intelligent regulation.
ConsenSys now has a market capitalization of $3.2 billion (ConsenSys): The Ethereum development group is also celebrating the 21 million users of its wallet MetaMask, which is quickly becoming the leader in the Web3 “wallet wars.” Takeaway for investors: HODL your ETH, which is the foundation on which ConsenSys is built.
Monthly Active Users on MetaMask (we updated it the chart for them). Takeaway for investors: Ethereum is the most popular platform in MetaMask, which is why we acquire and retain ETH for the long term.
“Half of the inflation we’re seeing now, in my opinion, is transient,” Kevin O’Leary recently told CNBC, “and the other half is simply misallocating resources like energy.”
If you haven’t already done so, take three minutes to watch this video, particularly the final 40 seconds when he explains why he’s shifting capital from bonds to DeFi.
“People who have cash ought to seek some type of inflation protection.” Crypto is the only place they can find it. “Isn’t that insane?”
Half the fight is already won.
Kinks in the supply chain, according to O’Leary, are a key driver of recent inflation. We’ve heard a lot about overburdened cargo ports.
He also attributes half of the responsibility to resource misallocation, ostensibly alluding to President Joe Biden’s decision to block the Keystone Pipeline.
Biden sent a letter to Lina Khan, the head of the US Federal Trade Commission, today, demanding that the federal agency investigate excessive energy costs.
To be clear, OPEC has been manipulating oil prices for almost a half-century.
So, although it’s great that we’re finally looking at it, blaming energy firms for inflation is a little ridiculous, it’s not quite as crazy as Treasury Secretary Janet Yellen’s perspective, which seems to blame COVID-19.
While she is technically true, it is evident that the pandemic is merely a secondary cause of the present high inflation rates.
Money printing would be the primary culprit. Since the 1960s, we can observe the M1 money supply. As can be seen, the quantity of money produced in the previous two years is unheard of.
Seven members of the Federal Open Market Committee are scheduled to speak publicly today. Don’t trust them if they attempt to blame inflation on anything other than excessive money printing.
We don’t want to sound cliched, but Bitcoin does really solve this problem.
The DeFi market, on the other hand, caters to risk-averse investors who cannot tolerate bitcoin’s extreme volatility.
What kind of winter is it?
If you’re curious about what’s been going on with the value of digital assets recently, you shouldn’t go to the mainstream media for answers.
For example, this story came as a bit of a surprise to our crew this morning.
MarketWatch, please. Bitcoin has lost 17 percent of its value from its all-time high and is now trading more than $14,000 above its 200-day moving average.
A crypto winter denotes a lengthy downturn market over the whole sector. It’s more like a gloomy Tuesday.
Many short-term traders have already bought the drop, while most long-term investors haven’t even noticed.
So far, 2018 has been an incredible year for the growth of crypto assets.
Don’t let yourself be sucked in. (To share this meme, go here.)
The “bitcoin price analysis” is a cryptocurrency blog that features news, market analysis and opinions. The blog covers everything from bitcoin to other cryptocurrencies.
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