Bullish DOT and Bleeding XRP
Market Meditations | December 30, 2020
Fundamental and technical analysis for traders and investors.
A remarkable time to be in the crypto market right now. As one coin bleeds out, another is thriving.
In today’s letter, we provide DOT fundamental and technical analysis for traders. A much more bullish outlook compared to XRP. We answer the hottest question in crypto right now: buy the blood or is the nail in the coffin?
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Scaramucci’s Skybridge Has Invested $182 Million Into Bitcoin ?
The firm, which has $9.3 billion under management, is also preparing to launch the Skybridge Bitcoin Fund LP in January, according to documents filed with the Securities and Exchange Commission (SEC) on Dec. 21. According to the deck, the fund has already invested $25 million in bitcoin and outside investors will have to put up at least $50,000 in order to invest in the fund. A re-allocation of funds by such institutions from the fixed-income market to bitcoin would “produce a substantial increase in the price of bitcoin.” Read more.
Crypto-friendly Trading Firm eToro Rumored to be Prepping for 2021 IPO ?
Sources told Cointelegraph that eToro has been working with the London Stock Exchange’s ‘Elite’ program. A number of mainstream financial entities, such as MicroStrategy, have started a trend of institutional Bitcoin investments. Coinbase’s move to go public, along with hints at a similar move from eToro, could stimulate further adoption of cryptocurrency. Read more.
Cover Protocol Token Holders Attack Compensation Plan ?
DeFi insurance project Cover protocol recently suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. Since then, the Cover team announced a compensation plan based on the snapshot that “will be taken at block 11541218, one block before the first major exploited mint.” Nevertheless, the compensation plan appears to have sparked controversy for the project with some token holders now accusing the Cover team of being dishonest. Read more.
Panthers’ Russell Okung Becomes First NFL Player to Be Paid in Bitcoin ?
After tweeting about it in May 2019, Russell’s demand has now been realized officially. The arrangement will be done through Zap, a startup founded by Jack Mallers. Their Strike product enables traditional paychecks to be converted into BTC. Apparently, Okung’s $13 million yearly salary is being split 50/50 between bitcoin and fiat. According to Okung, other pro athletes have also started onboarding to the program. Read more.
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A Shining Star DOT: 60% Increase in 6 Days
XRP: Buy the Blood or is the Nail in the Coffin?
George1Trader: Becoming a Profitable Trader at 21 Years Old
George (@George1Trader) is a full-time crypto and FX trader. George also has his own trading group…
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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. I am not a financial advisor. Every investment and trading move involves risk. Do your own research when making a decision.