🧘‍♂️Is This The Top?

Market Meditations | March 26, 2021

Dear Meditators

There’s one question we’ve all likely been asking ourselves: 

? Is this the top? ?

Today, we share our technical and fundamental viewpoint on where BTC is heading ?

? And, of course, we provide our insight and analysis on the hottest crypto market events. 

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  • Crypto. If you have any position in bitcoin, you’ll want to check out our analysis below ? In other news, NFTs continue to flourish, with an NFT tied to a New York Times column selling for nearly $560,000 in ETH.

  • Legacy. U.S. consumer spending fell by the most in 10 months in February as a cold snap gripped many parts of the country and the boost from a second round of stimulus checks to middle and lower income households faded.

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? This section of today’s newsletter is made available to our premium community only.

This week has been ripe with panic given the recent dip in bitcoin ? Times like this it’s pertinent to zoom out and look at the bigger picture. Given this is for our premium community, I’m going to couple this with deep insight into my mindset approaching the coming week.


Optimism Delays its Mainnet Launch at Least until July

Ethereum Layer 2 scaling solution Optimism has postponed the public launch of its mainnet ? The mainnet was scheduled to roll out this week, but it has now been postponed at least until July. 

Optimism has been building an Optimistic Rollup-based Ethereum scaling solution since June 2019. The solution aims to:

1️⃣Increase Ethereum’s throughput (the number of transactions processed per second)

2️⃣Reduce its gas fees

In terms of how quickly we can expect an improvement, Ethereum creator Vitalik Buterin has said that rollups are a “powerful” solution for Ethereum scaling in the “short and medium-term future (and possibly long-term as well)”. However, they are still an early-stage technology, suggesting that more work needs to be done in the years to come ⏰


Chainalysis Valued at More than $2 Billion

Blockchain analytics firm Chainalysis announced Friday that it secured $100 million in Series D funding, tipping the company’s valuation about $2 billion ?

Chainalysis provides data analytics services for blockchain networks, offering tools to both corporations as well as various agencies across the United States ??

✅ In a broader sense, the funding round is perhaps a signal that industry investors are betting on a future in which vendors like Chainalysis play a larger role in the interactions between governments and open crypto networks like bitcoin.


How to Avoid the Trap of Sunk Costs

The sunk cost fallacy is where we spend further resources – time, effort or money – to pursue a decision, purely based on the fact that we have already spent resources on this decision. ❌

As well as improving our general decision making process, we can also use the sunk cost fallacy to avoid common mistakes in our financial lives. This includes:

  1. Holding onto an investment simply because we have spent money on it. Whilst conviction is important, maintain mental flexibility and be ready to to change opinion based on new information.

  2. Pursuing a career because we have already invested time and money into the required education. If you think you have better opportunities in another field, do not let an expensive education sway your decision making process.

  3. Putting more time into a project that isn’t working. Whether this be a trading system or a business venture, investing more time simply because we do not want to admit it is not working only damages our future further.

The sunk cost fallacy can have a serious impact on our ability to make the correct decisions. Be aware of it and always make sure your decisions look into the future, not into the past. ✅


7 Tips to Protect your Profit

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In this episode, we explore everything you need to know about protecting your profit through risk management ?


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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. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision.