Well, that was eventful from a price perspective. First BTC and later the ALTs pulsed to the upside. Then a precipitous fall to $6,400 before rebounding above $7,000. A further correction in the works – in all probability – yes. What if BTC falls 40% – would the bull thesis be invalidated? No at all – volatility is back – profits will be taken and price swings are inevitable.
The bull is back -why so confident? Good news now moves price – XRP and XEM both saw exaggerated run ups on positive news. As I’m sure most of you have noticed bad news is also mostly ignored – Bitfinex, Tether, and Binance all offering recent examples of the market shrugging off negative developments.
However, do your pocketbook a favour – don’t chase. If you are new to crypto or just returning – take a few weeks (yes I said weeks) to situate yourself before launching into the market. If you weren’t a trader yesterday – you’re not one today. If you are looking to trade or invest in this market – remember time and opportunity are on your side. Should this turn out to be the start of a bull run you have 12-24 months of opportunity ahead of you.
If you simply can’t wait – dollar cost averaging is the easiest and least stressful way to enter the market.
Picks of the Week
So much to choose from. This Tweet to a wide-ranging exploration of BTC offers a gateway to weeks of learning. The interview with Tuur Demester author of the Adamant Report was another highlight and now seems prophetic.
Looking to get started with crypto -here’s a good start (recommended):https://twitter.com/nlw/status/1128094988418670595
Waiting on 3k BTC?:https://twitter.com/crypto_iwad/status/1127334569319944194
Understanding BTC-ALT cycles (recommended):https://twitter.com/cburniske/status/1126672148293091333
A rounded BTC education delivered in a Tweet (highly recommended):https://twitter.com/nck_wrd/status/1127995985467248640
The last time BTC crossed 8k….https://twitter.com/Rhythmtrader/status/1127974397275451392
Reflections on FinCen’s recent guidance on crypto and AML:https://twitter.com/jchervinsky/status/1126999079035244544
On bias and understanding your own perspectives (highly recommended):https://twitter.com/jposhaughnessy/status/1128005777048911872
Articulating the case for another BTC bull run:https://nuggetsnews.com.au/bitcoin-the-case-for-another-bull-run-by-alex-saunders/
Interpreting the BTC price chart:https://trybe.one/understanding-the-bitcoin-price-chart/
Turning the ‘BTC has no intrinsic value’ argument on its head (recommended):https://medium.com/@connerjbrown1/bitcoin-has-no-intrinsic-value-and-thats-great-e6994adbfe0f
Quantum computing – because before you know it – it’s going to matter:https://hackernoon.com/quantum-computing-explained-its-rocket-science-55d7766edac2
Are machine learning and AI the same?:https://hackernoon.com/machine-learning-vs-ai-d7eec452cdd4
Good advice is good advice (non-crypto specific):https://www.nytimes.com/2019/04/30/smarter-living/best-advice-youve-ever-received.html
Grab a coffee – this is fascinating – networks/diffusion just read it (highly recommended):https://meltingasphalt.com/interactive/going-critical/
Recorded before the recent BTC price pump – the author of the Adamant Report argues we are/were in an accumulation phase for Bitcoin:
Catch this comprehensive Crypto roundup Sunday evening Australia time (recommended):
Technical analysis has its place but lets also look at some of the fundamentals driving BTC (recommended):
Bitcoin-Alt investing and cycles (highly recommended):
History rhymes – BTC may retrace and hard and that’s OK:
Light-hearted but nonetheless insightful look into recent Bitcoin price action:
We all know BTC price is appreciating and on all-time high trade volume:
These are the headlines financial types the world over are now reading:
Website / Utility
Want to track the returns on dollar cost averaging BTC to date? Well, now you can:
That’s a wrap for this recap – it was a whale of a week. Until next time. 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 – 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.