issue 21 - week of 03-07-21

curating the good stuff for the casual bitcoin enthusiast each week

Mar 7, 2021

`news`

`MicroStrategy Acquires Additional $10 Million in Bitcoin at Average Price of $48,888.`

https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-10m-in-bitcoin-at-average-price-of-48-888_03-05-2021

`The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate.`

https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate

`Bitcoin. At the Tipping Point.`

https://ir.citi.com/peFJTnzeEoMSIAEFlwH12VeM5d%2BCckWNrsO9lxpmyWezrz5V%2Bx%2FfRvm0gv6cWRpDHGWtIk7sTME%3D

`Understanding Bitcoin. Does Bitcoin Belong in Asset Allocation Considerations?`

https://institutional.fidelity.com/app/literature/item/9901337.html?pos=T

`Goldman Sachs restarts cryptocurrency desk amid bitcoin boom.`

https://www.reuters.com/article/us-crypto-currency-goldman-sachs-exclusi-idUSKCN2AT390

`Dan Loeb Is the Latest Billionaire to Dive Into the World of Crypto.`

https://www.bloomberg.com/news/articles/2021-03-01/bitcoin-btc-billionaire-investor-dan-loeb-says-doing-deep-dive-into-crypto

`Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury.`

https://www.coindesk.com/software-firm-meitu-buys-22m-of-ether-17-9m-bitcoin-for-its-treasury

`Cboe Seeks Approval to List Trailblazer Bitcoin ETF in U.S.`

https://www.bloomberg.com/news/articles/2021-03-01/cboe-says-it-s-seeking-approval-to-list-bitcoin-etf-in-u-s

`Kentucky bill to provide tax breaks for local crypto miners.`

https://cointelegraph.com/news/kentucky-to-provide-tax-breaks-for-local-crypto-miners

`Bitcoin vs Ethereum.`

https://danheld.substack.com/p/bitcoin-vs-ethereum

`Bitcoin and the Separation of Money and State.`

https://bitcoinmagazine.com/culture/bitcoin-and-the-separation-of-money-and-state

`More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows.`

https://www.coindesk.com/more-institutional-investors-jumping-into-bitcoin-leaves-less-to-go-around-data-show

`media`

`Bloomberg. Bitcoin is Going to Infinity - Kraken CEO.`

https://www.bloomberg.com/news/videos/2021-03-04/bitcoin-going-to-infiniti-kraken-ceo-video

`Podcast. The Bitcoin Standard Podcast: Bitcoin and Fiat Debt`

https://the-bitcoin-standard-podcast.castos.com/episodes/38-bitcoin-and-fiat-debt

`Youtube. Dr. Adam Back and Preston Pysh - E12`

`Podcast. Pomp Podcast 502: Bitcoin as the Apex Predator with Robert Breedlove.`

`tweets`

PlanB @100trillionUSD

Some misunderstanding about #bitcoin 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.

🏔Adam O🏔 @denverbitcoin

My favorite bitcoin chart. Bitcoin price each halving cycle. You are here ⭕️

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

#Bitcoin 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.

glassnode alerts @glassnodealerts

📉 #Bitcoin $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&…

Raoul Pal @RaoulGMI

BTC - Feels like yet another wedge...

Documenting Bitcoin 📄 @DocumentingBTC

Chamath Palihapitiya on #bitcoin when it was worth $142

//Bitcoin 𝕵ack 🐐 @BTC_JackSparrow

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

//Bitcoin 𝕵ack 🐐 @BTC_JackSparrow

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

Ki Young Ju 주기영 @ki_young_ju

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/…

Ki Young Ju 주기영 @ki_young_ju

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…

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

2017 Bull Market: On-exchange #Bitcoin 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.

Ki Young Ju 주기영 @ki_young_ju

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_ju

I 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.