Our New Year Special: 2020 Review and Lessons

Market Meditations | January 1, 2021

2020 has been a roller-coaster year. From the March Crash, to the DeFi Summer to the astronomical Bitcoin rally and ATH. Let’s revisit these incredible events and draw lessons from them.

Dear Meditators

2020 has been a roller-coaster year ? From the March Crash, to the DeFi Summer to the astronomical Bitcoin rally and ATH.

For today’s newsletter, we revisit these incredible events and draw lessons from them.

Let’s approach 2021 as better traders, who have learnt from the past and are ready to mould our futures ?

  • MicroStrategy Stock Up Over 200% Since Initial Bitcoin Purchase ?
    Led by CEO and BTC mega bull, Michael Saylor, MicroStrategy has purchased over $1.3 billion in BTC. Since MicroStrategy’s initial purchase of BTC, not only has it made $1 billion in unrealized profits, but its stock increased by over 200% over the course of 5 months. We can’t help but wonder how Citigroup is feeling about their MicroStrategy downgrade / ‘sell’ rating back in early December due to ‘aggressive’ BTC purchases. Read more.

  • FinCEN Wants US Citizens to Disclose Offshore Crypto Holdings of $10K+ ?
    The Financial Crimes Enforcement Network, the U.S. Treasury Department wing tasked with monitoring potential legal violations of domestic financial laws, wants Americans to report if they have more than $10,000 in cryptocurrencies with foreign financial or virtual asset service providers. Read more.

  • Yearn.Finance Founder Andre Cronje Releases New DeFi Protocol yCredit ✨
    It allows users to deposit ERC-20 tokens and receive 99.5% worth of deposits as a credit line in the form of yCREDIT tokens. For instance, if a user deposits $100 worth of ETH, they will receive $99.5 worth of yCREDIT. If they burn $100 worth of yCREDIT, then they will receive their ETH back. Read more.

  • Grayscale Concludes 2020 with Huge XRP Purchase and 10x in AUM ?
    The company’s assets under management (AUM) have increased ten-fold throughout 2020 to above $20 billion. Information shared by the monitoring resource CryptoWhale asserted that Grayscale had taken advantage of the recent XRP developments with a massive purchase at a lower price. Read more.

  • eToro USA Latest Exchange to Announce Suspension of XRP Trading ?
    The company made the announcement on New Years Eve, following in the footsteps of several major American-based cryptocurrency exchanges that have taken similar courses of action towards the embattled XRP token. Ripple CEO Brad Garlinghouse maintains that XRP is not a security and has vowed to take the SEC on in court to prove their case. Read more.

2020 in Review: The Good, The Bad and the ATHs

In a year dominated by a worldwide pandemic, our industry was one of the few beneficiaries

For our latest edition of the year, we wanted to do a review of this spectacular year for crypto and look back at some of the defining moments that shaped the market this year. We have organised these as follows:

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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.