🧘♂️Recap: Crypto Week of Apr. 05
Market Meditations | April 10, 2021
Every Saturday, we will highlight the main events of the week.
Dear Meditators
It’s not that you want to miss the latest crypto news and insights. These things happen.
? Our weekly recaps have you covered. Every Saturday, we will highlight the main events of the week. So you can review, reflect and factor them into next week’s trading and investing decisions.
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NEWSLETTER
FRIDAY
Bitcoin and Ethereum Technical Analysis. Markets have been hard to read recently. We provide some clear Bitcoin and Ethereum technical analysis to help.
Coinbase Joins DeFi Alliance. Coinbase CEO Brian Armstrong said in the firm’s earning call this week that providing access to DeFi apps would be a priority for Coinbase going forward. This has taken shape in the form of a partnership with the DeFi Alliance: a group that provides mentorship and funding for early stage tech teams. We explore the appeal of DeFi from the perspective of Coinbase.
Bitcoin Displacing Gold As An Inflation Hedge. We discuss the extent to which bitcoin has displaced gold as an hedge to fiat or traditional currency.
Improve your Investment Decisions with Occam’s Razor. Trading and investing is complex, especially when looking at crypto markets. How do we deal with this complexity and ensure we remain profitable? One way is to consider Occam’s Razor. We explore this concept and consider some actionable insights into trading and investing.
THURSDAY
The Millionaire Mind. Through our 4 years in the crypto space, we have come across many people. Some people are able to generate 6 or 7 figure wealth and others are forced out of the market, with nothing. What separates these two groups of people? How can we make sure we too are on the path to millionaire wealth? We share some of our top observations, which are covered perfectly in T Harv Eker’s Secrets of the Millionaire Mind – Mastering the Inner Game of Wealth.
10 Largest Venture Rounds in Crypto and Blockchain. We are accustomed to looking to technical and fundamental analysis to help shape and influence our trading decisions. A less looked to but powerful source of information is venture rounds. Pouring your capital in one forfeits your ability to invest in another. As such, the projects with the highest capital raises reflect those with the highest perceived value. We look at Forbes’ top 3 venture rounds in crypto and blockchain.
Banks Trading Crypto? State Street has announced that it is working with Pure Digital to launch a high performance digital currency trading platform tailored for institutions. The new initiative set to launch in “mid-2021” will offer cryptocurrency trading settled in cash and comes off the back of heightened demand. Lauren Kiley, chief executive of Pure Digital, explained that “Banks are telling us that they can’t ignore client demand for crypto assets and they realise it’s a market they need to get into.”
WEDNESDAY
The Art of Prediction. There is no certainty in the crypto markets. The potential rewards are too high to entertain certainty. We are in the business of making predictions. Calculated predictions cap our downside and create opportunities for exponential returns. Today’s article takes a close look at the art of making predictions.
Blood on the Streets. Blood on the streets today as Bitcoin slides 5% during a second day of losses and Ether reverses some of its previous successes, dropping below $2,000. For the reason, a cointelegraph article cites leveraged long positions in place at previous spot price, indicating that further upside is more likely than a correction. XRP and DOT were the biggest losers in the top 10 cryptocurrencies by market capitalization.
Coinbase. Coinbase will register almost 115 million shares of Class A common stock under the ticker symbol ‘COIN’ on April 14 for trading on the Nasdaq. Ahead of this monumental event for the crypto industry coming up in a mere 7 days, Coinbase has announced spectacular 2021 Q1 earnings. We take a look at the earnings report and why it matters for traders looking to profit.
TUESDAY
Top 3 Altcoin Pick. An update through technical analysis on our Top 3 altcoin picks: $SOL, $UTK and $ERN.
CoinShares Launches Physically Backed Litecoin ETP. According to an April 6 announcement, CoinShares has launched its CoinShares Physical Litecoin. Listed under the ticker symbol LITE, each unit of the Litecoin ETP is backed with 0.2 LTC at launch, providing investors with passive exposure to the Litecoin network’s native asset. LITE is now listed on Bloomberg, with an opening price of $44.5.
Tether to Launch USDT Stablecoin on Polkadot and Kusama. Tether announced that it would launch its USDT stablecoin on the Polkadot and Kusama networks. This would make the stablecoin available on a total of 10 networks. Albeit nearly $23 billion worth of USDT has been issued on Ethereum and according to data from The Block, it hasn’t gotten much traction on other networks yet.
MONDAY
How to Yield Farm. In this article, we’ll explain what yield farming is, reveal a step-by-step tutorial with examples to help you get started, and elaborate on the risks involved. Is it easy? No. But with the right knowledge, this is a once in a lifetime chance to seriously increase your gains.
Cryptocurrency Market Cap Hits $2 Trillion. According to a cointelegraph report, the market capitalisation of all cryptocurrencies in existence surpassed $2 trillion on this day. We break down what market cap is and provide further insights on this news.
Gucci and Other Luxury Fashion Brands Poised to Launch NFTs. Gucci confirmed to news outlet Vogue Business that it’s “only a matter of time” before it will release an NFT. And so too are several other luxury fashion brands. Fashion collectible platform Neuno, for instance, is working with 5 luxury brands on launching NFTs.
TWEET OF THE WEEK
VIDEOS
Tuesday: These 3 Altcoin Gems are SURGING (Best of April 2021)
Friday: Realistic Solana Price Target (My SOL Strategy)
PODCAST
Tuesday: Investing in NFTs, Web3 and the Future of Crypto with Charles Read
Charles is the founder of Web3 venture capital fund Rarestone Capital.
Thursday: Lessons from History’s Greatest Traders with Koroush AK
In this episode, we breakdown lessons from some of the best traders in history to provide actionable insights that you can apply to your own trading.
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