Choose not to be harmed — and you won’t feel harmed. Don’t feel harmed — and you haven’t been.
Toughen up buttercup.
Well, that got interesting in a hurry. A week where many records were broken – none of them to the good. The world has finally begun to grasp the magnitude of dealing with a global pandemic but don’t be fooled COVID-19 is ‘a catalyst’, not ‘the cause’. Many years of fiscal irresponsibility are finally coming home. Throw in an epic production tantrum by the Saudi’s, no doubt playing right into Russia’s (much stronger) hand and absurdly inept administration in the world’s largest economy and we’ve got us some fire. Crypto like anything, not cash has been sold off and hard.
Are we done yet? Probably not. As per usual don’t be a lemming and try to leverage trade your way through this. Research, think, reflect and only then act.
Did I buy BTC? You bet I did – though that position has a break-even sell order on it. Did I sell more Alts? – No, I’d already culled the herd (but I urge you, once again, to cast a very stern eye over your alts…).
Strap in – Bitcoin/gold/silver should repay holding but it’s going to take time and perhaps some further sharp drawdowns before the stark comparison between these assets and ever more common fiat gains broader investment.
Picks of the Week
Crypto risk abounds but it’s not evenly distributed. Tough times ahead – may as well take that onboard. Lots to be learned (as per usual) from the Twitter threads in this week’s recap – delve in!
An insightful thread on BTC’s sudden price collapse (highly recommended):
It was never going to be smooth sailing:
An ‘insane theory’ re Bitmex – that’s likely true (recommended):
Unpopular BTC thoughts that are well worth considering (older thread but nonetheless – highly recommended):
Leverage trading is probably not helping BTC (recommended):
A nuanced take on the economics of the virus (recommended):
Some BTC TA areas of interest:
BTC predictability (recommended):
There’s opportunity in these streets of blood:
Ari Paul on lessons learned from 2008 (recommended):
There’s a lot more to the current market carnage than COVID-19 (highly recommended):
Russia’s been here before:
Funding Bitcoin developers:
BTC isn’t as risky as it may seem (recommended – pre-price collapse):
Zoom out – BTC looks like very good value (recommended):
For the node minded – here’s how to do it securely:
Dates to 2018 but neatly captures the bullish case for BTC (highly recommended):
BTC as a living organism (dates from Aug 2019 but no less interesting for that – highly recommended):
The tale of a tottering DeFi giant (recommended):
The Lifecycle of Greed and Fear (recommended):
Risk abounds – here’s my 2 cents (published before recent market action but just as relevant imo):
A general Q&A on BTC drawing on the previous 13 episodes (highly recommended if new to BTC):
Stop fretting and learn something (recommended):
Once again on point interview – buckle up folks (highly recommended):
COVID-19 is not ‘the cause’ of the current market chaos but rather a catalyst:
Updated guide to using the Ledger Nano X:
Perhaps invalidated by recent market events?:
Twitter crypto heavyweights:
That went south quickly (Deribit’s insurance fund has since been added to from company funds):
Website / Utility
An excellent BTC slide resource – spread the word!
More to come. Volatility, the unfolding disruption from COVID-19, green zones-red zones – bailouts, QE, negative rates – the whole panoply of investment trauma. For myself, I’m looking to the confluence of a stabilizing virus environment and the BTC halving….
Note on Sources:
Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.