Cryptocurrencies

The Sunday Recap – Down the Rabbit Hole 28

Now I could be all professional trader about this or I could just say ‘BOOM’. Let’s go with BOOM! BTC tearing up the technical analysis playbook. Long established support/resistance 6300-6600 has been brushed aside – with price sitting above 7000. The Alts have also finally decided to come along for a ride. The coming weeks will certainly be volatile!

Following and investing in crypto is rarely uneventful. Binance the hitherto fore ‘paragon of exchange excellence’ got itself hacked to the tune of $40 million (7000 BTC). Bitcoin promptly dropped $250 and then rallied. Bad news seems to be pushed aside these days – a sign of bullish sentiment as traders/investors look to buy the dip.

Sustainable? We’ll just have to wait and see. While the Binance hack undoubtedly stole the spotlight plenty of other things were happening throughout the cryptoverse not least of which was the burning of 34 million EOS tokens (a mere $160 million).

Twitter again proves its value as ‘the place’ to stay abreast of crypto events and narratives. Marco Santori’s analysis of US Treasury guidance on crypto being a great example.



 Picks of the Week

The Crypto Lark’s examination of the many times Bitfinex and by extension Tether has shown themselves to be untrustworthy. If you are using either – this is highly recommended viewing! Twitter has been particularly lively and this collection of data around the Binance hack is very informative.


Twitter

Breaking down recent US Treasury Guidance on crypto regulation (highly recommended):

A compendium of narratives re Binance hack –  including Bitcoin reorg suggestion (highly recommended):

Murad is a BTC maximalist but a damned smart one – this BTC TA tweet storm is well worth checking out:

Bitcoin critics down the years:

$6400 a clear zone of resistance for BTC:

Well done EOS BPs (goodbye 34 million EOS tokens):

Binance has been hacked – inevitable? How its dealing with it matters too:

Calling-out hypocrisy in ‘the West’s’ response to China’s attempts to ‘steal’ technology:

On start-ups, suffering and the journey (recommended):

Take a moment (non-crypto specific but relevant to traders/investors):


 Articles

A deep dive into immutability in crypto (Eth classic bias but highly recommended nonetheless):

https://medium.com/ethereum-classic/quantifying-immutability-e8f2b1bb9301

Reflections on crypto as assets that can’t simply be seized:

https://hackernoon.com/bitcoin-the-unseizable-asset-ee108edcfe6e

This is how you communicate a hack:

https://binance.zendesk.com/hc/en-us/articles/360028031711-Binance-Security-Breach-Update

Fidelity soon to enter crypto – worth bein aware of:

https://toshitimes.com/fidelity-investments-to-launch-institutional-bitcoin-trading/

Alt coins may have a few things working in their favour (recommended):

https://medium.com/forbes/altcoins-are-ready-to-rock-c8939855f835

Short explanation of how pEOS may work in the future (emphasis in ‘may’):
https://medium.com/@pEOS_one/eli5-how-will-peos-work-9f30d49fea87

Useful but often overlooked skills (non-crypto):

https://www.collaborativefund.com/blog/useful-and-overlooked-skills/


 Podcast

Exploring the implications of quantum computing for crypto (recommended):

https://podcasts.apple.com/au/podcast/quantum-computing-is-bitcoin-and-the-world-f-ked/id1262351840?i=1000437321477


 YouTube


If you have any shred of trust in Bitfinex or Tether, this should cure you:


Very clear explanation of how REX works:


One of the best in the business discusses portfolio building (non-crypto specific):


 Infographic

Grayscale investments are bullish on BTC v Gold (bias -obvious):


 Website / Utility

A great way to track REX performance/statistics:

https://eosauthority.com/rex/statistics


Hopefully you found some material of interest/value. Until next week. As always, looking forward to your comments and suggestions.


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 โ€“ Iโ€™ll reference these articles and podcasts etc. as I encounter them โ€“ they may have been published just a couple of days ago or in some cases quite a bit earlier.

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