issue 21 - week of 03-07-21
curating the good stuff for the casual bitcoin enthusiast each week
MicroStrategy Acquires Additional $10 Million in Bitcoin at Average Price of $48,888.
The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate.
Bitcoin. At the Tipping Point.
Understanding Bitcoin. Does Bitcoin Belong in Asset Allocation Considerations?
Goldman Sachs restarts cryptocurrency desk amid bitcoin boom.
Dan Loeb Is the Latest Billionaire to Dive Into the World of Crypto.
Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury.
Cboe Seeks Approval to List Trailblazer Bitcoin ETF in U.S.
Kentucky bill to provide tax breaks for local crypto miners.
Bitcoin vs Ethereum.
Bitcoin and the Separation of Money and State.
More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows.
Bloomberg. Bitcoin is Going to Infinity - Kraken CEO.
Podcast. The Bitcoin Standard Podcast: Bitcoin and Fiat Debt
Youtube. Dr. Adam Back and Preston Pysh - E12
Podcast. Pomp Podcast 502: Bitcoin as the Apex Predator with Robert Breedlove.
Some misunderstanding about relative strength index (RSI). This chart shows 200WMA and RSI (basically a moving average, but indexed at 0-100). Note that in 2013 the high RSI (orange/red) period was 10 months and in 2017 8 months. We are now in month 4: bull just started.
bull markets typically have 3 waves. We have just completed wave 1. In 2017 #Bitcoin went up 7.5x from the peak of wave 1 to the peak of wave 3. That would take #Bitcoin to $315k if it repeated the same pattern.
📉 $BTC Exchange Inflow Volume (7d MA) just reached a 4-month low of 1,608.682 BTC Previous 4-month low of 1,612.202 BTC was observed on 09 December 2020 View metric: studio.glassnode.com/metrics?a=BTC&…
Coinbase just had another 12K outflow Reserves down close to 50K over the course of 6 weeks, around 2% of what is stored at exchanges combined
Chart shows diminishing velocity / returns per cycle confirmed by a well defined trendline on log scale, for bitcoin However, traditional cycle top signals are not flashing yet Any continuation higher breaks the diminishing returns trend this cycle Nice visual to the idea
Taker Sell Volume for all derivative exchanges looks helpful to catch the local bottoms. After a dip, $BTC price looks likely to bounce back in the short term when the volume goes above 150M USD. Not fully back-tested, just eye-catching tho. Chart 👉 cryptoquant.com/overview/full/…
People have PTSD about mass-dumping. But don't worry, we're good now. Two whale dumping indicators said there are fewer whales compared to the past. The bull-run is likely to continue. Details 👉 dataguide.cryptoquant.com/quick-start/wh…
2017 Bull Market: On-exchange supply accelerated as the price went up - then supply continued to increase even in the bear market. Something changed in 2020; and it’s been 13 months of declining supply since then - even at record prices. Yes, this time is different.
Whales accumulating $BTC. They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k. Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price. Chart 👉 cryptoquant.com/overview/full/…
Ki Young Ju 주기영 @ki_young_juI think it will eventually go above 48k which is the institutional buying level, so I bought more $BTC here at 46k. Not sure about short-term price moving tho.
Chart: The increase in Bitcoin users visible on its blockchain per day. Retail investors arrived in Jan. Like prior cycles, I expect this peak to top out higher than the ones before it. Gives you an idea how this bull market is just warming up. Data:
Another opportunity to buy the dip? The SOPR metric has been reliable for "buy the dip" opportunities in bull markets. Are investors getting another chance this week? Read more in our weekly report tomorrow: bit.ly/3b67kG6 Data:
1) update: submitted the 19b-4 application to trade the shares of the Bitcoin Trust. It’s time for U.S. regulators to step up to the plate and approve a Bitcoin fund. Europeans have ETPs. Canadians have ETFs. ETFs bring many benefits to markets...