How to Navigate Bitcoin vs. Ethereum #48

Market Meditations | December 2, 2020

What’s the latest on bitcoin and what’s all this about ethereum 2.0? Unlock this exclusive edition by subscribing and becoming a Market Meditator. We take another look at bitcoin’s price action this week, guide our readers through the Eth2 upgrade and potential implications for Ethereum’s price going forward.

Navigating Bitcoin Volatility and Ethereum Developments

  • CEO of World’s Largest Asset Manager Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset. Larry Fink, CEO of the world’s largest asset management firm Blackrock, said that bitcoin ‘has caught the attention’ of many people and that the cryptocurrency market was still relatively small compared to others. Fink also said that having a digital currency has a real impact on the U.S. dollar, making it less relevant on a global scale for international holders of dollar-based assets. BlackRock is the world’s largest asset manager with over $7.4 trillion dollars in assets under management. Read more.

  • XRP Led November’s Crypto Bull Run With 169% Gain. Whilst bitcoin dominated headlines, XRP quietly jumped 169% during the month to top the performance rankings among digital assets in the CoinDesk 20. The move left XRP, the payments token used in Ripple’s global payments network, up 225% in 2020, versus the older and larger bitcoin’s 165% gain. The frenzy in XRP may be driven by a looming airdrop of free “spark” tokens to anyone who holds XRP, some digital-markets analysts told CoinDesk last month. Read more.

  • Libra Rebrands to ‘Diem’ in Anticipation of 2021 Launch. Libra, the stablecoin that was announced by Facebook last year, is rebranding to ‘Diem’ in an effort to further distance itself from the original Facebook-led vision rolled out last year. The Libra association, composed of 27 member firms, announced the news on Tuesday as it prepares the potential 2021 launch of their single, dollar-pegged stablecoin. Last year, the project received a lot of criticism from lawmakers who demanded that all development cease until they could better understand it. The ‘Diem dollar’ will launch as soon as the new entity is licensed through the Swiss Financial Market Supervisory Authority (FINMA). Read more.

  • Crypto Exchange Binance Unveils New Staking Service for Eth2. In a blog post on Tuesday, cryptocurrency exchange Binance said that the staking offering would go live today at 0:00 AM (UTC). The new Eth2-focused staking service ‘is committed to providing users with one-click Locked Staking for worry-free ultra-high returns.’ The lock-up period is determined according to the development of Eth2, which may exceed two years. Users receive BETH as rewards that can be redeemed for ETH at a 1:1 ratio when Eth12 phase 1 goes live. The announcement comes a day after Coinbase also announced their support for Eth2, also including a staking service. Read more.

  • Positive Oil Outlook Draws in Fund Managers. Hedge funds are becoming increasingly bullish on the outlook for oil prices, anticipating that early deployment of coronavirus vaccines will allow a rapid resumption of more normal travel patterns. Ultra-loose fiscal and monetary policies are also expected to promote a progressive recovery from the massive cyclical downturn in business activity experienced in 2020, giving a big boost to petroleum consumption. Hedge funds and other money managers purchased the equivalent of 78 million barrels in the six most important petroleum futures and options contracts in the week ending Nov. 24.  Read more.

#28 Qiao Wang: Building in DeFi, Algorithmic Trading and Successful Entrepreneurship.

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Qiao Wang (@QwQiao) is a former quant trader, successful entrepreneur and startup advisor. Qiao was a quant trader at…

Critically Evaluating Your Trading Strategy

Trading is a learning process. A good trader will learn from their mistakes to avoid repeating them in the future. On the contrary, bad traders will keep making the same mistakes over and over again. What does this lead to? Such a degree of frustration that they call it quits or are forced to call it quits due to financial reasons. In this next section, we will explain how to assess your trading strategy to ensure you are constantly growing and developing as a trader.

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