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Market Meditations | March 3, 2021
Introduction to Trading Crypto Options
Dear Meditators
We did it. We are back in the +$50k club ?Â
Letâs celebrate by exploring todayâs hottest topics in DeFi and Crypto.Â
Our main article provides an exclusive introduction to trading crypto options. For those who are looking to level up their trading and investing ?
Read, enjoy and share with your network. Letâs all build wealth together.
MARKET BRIEFING
Crypto. Applause, laughter and joy filled the crypto streets today as Bitcoin retook $50k: a key level for bull revival. Now before you pop the champagne, securing a foothold about this level is key to the resumption of a broader uptrend and a move toward new record highs. Some have attributed the move to events in legacy markets ?
Legacy. A central theme in legacy markets today was dollar weakness. Since stores of value such as gold and Bitcoin are priced against the dollar, in theory, a weaker dollar should have a positive impact on the price of BTC. Bidenâs $1.9 trillion stimulus package, which is likely to be approved in the next 2 weeks, is likely a driver of USD weakness.
Delighted to say this article is brought to you by FTX?, you can use my link to get a discount. We also have a comprehensive ? FTX tutorial ? which includes: a step by step on how to open an account, deposit and withdraw funds, place a buy or sell order and stop loss.Â
? We will be funding 2 FTX trading accounts a month with $500 dollars and you’ll get a coaching call with Koroush to start your journey. To participate, join our ? Telegram ?Â
MARKET MEDITATIONÂ
$75K Bitcoin by May?
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CRYPTO EXCHANGES
FTX Supports Deposits from PayPal?
Users of the cryptocurrency platform FTX can now use PayPal to deposit fiat into their trading accounts ? The service allows users to deposit almost any currency (since PayPal has a built-in currency converter) and use credit cards to fund accounts ? This news may seem small, but the retail mania it could bring may just be what is needed to kick off a parabolic price advance for Bitcoin, Ethereum, and Altcoins very soon.
? One drawback of cryptocurrency is that new and inexperienced people simply donât know where to begin when it comes to buying Bitcoin. Exchanges without the ability to deposit fiat (i.e. you can only deposit cryptocurrencies) make it especially difficult for the average user because it is a process thatâs completely unfamiliar to them ? The implication is that many donât invest in Bitcoin because they simply donât know how. FTXâs integration with PayPal means that new users have a familiar way to deposit funds into an exchange â
We know price is a function of supply and demand. People who previously wanted to buy Bitcoin, but were not used to certain functionality, now have the ability to get involved. In other words, more demand is present with a fixed supply. Basic economics tells us that this is the recipe for price appreciation…?
Next, we have our tweet of the day to add some sunshine to your day. Followed by the latest in DeFi ?
TWEET OF THE DAY
DEFI NEWS & ANALYSISÂ
Insurance Giant Turns to DeFiÂ
At this point, we are all used to hedge funds and asset managers joining the crypto space. One sector of the financial services industry is still testing the waters: insurance companies ? In a recent positive headline, insurance giant Aon announced it is exploring DeFi ?
According to the announcement, Aon (the worldâs second largest insurance intermediary) has embarked on a pilot with Nayms, an insurtech platform that allows cryptocurrency holders to provide decentralised insurance cover over losses due to hacks or buggy software ? Also involved in the project are Relm Insurance, a Bermudian insurer that specializes in digital assets, and Teller Finance, an automated matchmaker between investorsâ assets and crypto risk liabilities.
âThe Nayms platform puts the tool of smart contracts in the hand of regulated underwriters (like Relm) and brokers (like Aon), to open up a new capital source when underwriting crypto risk,â Nayms CEO Dan Roberts said via email. âThis could be in either crypto (ETH, BTC) or in fiat (via a stablecoin). Aon is assessing both options as part of longer term programs.â
? As is the narrative with hedge funds and asset managers, new entrants in the space provide validation for DeFi. This is helpful in creating liquidity, demand and supporting price.
â However, when it comes to insurance companies, there is more: insurance companies are amongst the more financially conservative institutions. This is in contrast to hedge funds which are amongst the most risk seeking. And so, the entry of insurance companies has the added benefit of making DeFi more accessible to lower risk and conservative investors. There was a similar sentiment at the time MassMutual bought $BTC:
As we have said previously, narratives are a powerful tool in trading and investing. And this is a strong narrative indeed. For more on this, check out our free ? newsletter âď¸ or ? video guide ?
Weâve got a question for you about a certain NFT and then we share our podcast ?
GAME
How much did this rare Homer Simpson Pepe NFT sell for on Monday?
115 ETH
205 ETH
325 ETH
Answer further in the article ?
PODCAST
Crypto Gems, Networking and Finding Happiness with CryptoMessiah
CryptoMessiah is a veteran crypto investor who has now been active in the space for over 7 years. He has built several successful communities, identified multiple successful projects and is currently working with Hxro.
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ANSWER
Homer Pepe sold for 205 ETH. About $321,440 at the time of the sale. The seller had bought the collectible for $38,500 and the price increased by over 700% in under 3 years. NFTs are here to stay. If you want to get started on the action, check out our ? Introduction to NFTs.
? If youâre serious about levelling up, consider joining our community and gaining access to the full range of insights and analysis ?
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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision.Â
