Is the Bitcoin Bull Run Sustainable? Should We Look to Altcoins?

Market Meditations | November 25, 2020

Can bitcoin sustain the latest bull run and remain the best performing asset in the market? Is there incredible trading opportunity elsewhere in altcoins? These are questions we will answer today in this exclusive edition of the Market Meditations.

  • Yearning for Pickle? Two DeFi Protocols Merge. The anonymous operated yield farming protocol Pickle Finance, which was exploited for nearly $20 million DAI this week, has cut a deal to merge with Yearn.Finance, led by lead developer Andre Cronje. Cronje posted the news on Medium himself. This is done to reduce duplicate work, increase specialization, and to leverage shared expertise.’ The Pickle token, after crashing +70% after the exploit was made public, saw a sharp rebound and jumped up almost +100% on the news. Read more.

  • Eth2 Deposit Contract Passes Threshold Needed for Phase 0 to Launch on December 1. The Ethereum community has reason to celebrate this week. Not only because of the price, but rather achieving the required threshold for the Eth2 deposit contract, meaning that the initial phase of Eth2’s launch will begin on December 1. Eth2 will make Ethereum more scalable, more secure, and more sustainable. Amid an active market like Ethereum’s, failure of exchange to settle contracts could cost big in terms of users. Such was the case of one of professional derivatives exchange Bybit. Read more.

  • Stocks in U.S. Slip Following Latest Round of Economic Data. As we mentioned in the ‘Scan the Week’ section of the Market Meditations on Monday, today is U.S. data release day.  The mediocre economic data dimmed positive vaccine news and the formal state of President-elect Joe Biden’s transition to power – including the selection of Janet Yellen as Treasury secretary – that had fueled optimism about the outlook for risky assets. S&P 500 retreated and DJIA fell below 30,000. Read more.

  • Coinbase to Discontinue Margin Trading Services Due to Regulatory Concerns. Coinbase halted its margin trading product due to regulatory concerns, according to a blog post on Tuesday. Twitter users initially rumored that the announcement was due to exchange overload, which could be a sign of exponentially more users signing up but that was debunked by Coinbase’s announcement shortly after. Coinbase relaunched its margin trading services this year after suspending the functionality in 2017 due to a flash crash in the price of ETH. Read more.

  • U.S. Intelligence is Looking at Chinese CBDC as a National Security Threat. The U.S. national security apparatus is warning other agencies about China’s upcoming digital currency. A successful digital yuan could challenge the status of the dollar in international trade. The flip side, however, is that many see a digital yuan as a tool of surveillance for the Chinese Communist Party. While that might reduce demand, the upgraded access to information may be another factor the U.S. is worried about. Read more.

#26 Altcoin Psycho: The Meaning of Money, Algorithmic Trading and Leaking Alpha

Altcoin Psycho (@AltcoinPsycho) is a trader, tech entrepreneur…

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What’s Your Sign? Determining Your Trader Type

In this next section, I will outline the various ‘Trader Types’: The Scalper, The Swing Trader and The Position Trader.This should allow you to identify with one of the types. Then we will explore which is most suitable for profitable crypto trading. 

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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.