Market Update - March 29, 2023
No time to panic
Ah, Binance, you dirty dog! Uncle Sam says you’re in big trouble!
If the US government’s case is valid, you can expect some sort of punishment. Whether it’s a bank-style fine or actual jail time, we’ll see. I’ll leave the legal analysis to others—please comment if you have any insight on this!
Most of the charges against Binance refer to past actions that Binance may no longer be doing. Also, they seem like run-of-the-mill shenanigans that lots of exchanges do. You can bet other exchanges are doing the same thing.
(Get your crypto off of exchanges!)
Unless Binance settles this case, it’ll take years to sort this out. The US government served XRP in December 2020 and its case is still in court. XRP’s price is higher now than it was then, even after dropping 70% from its 2021 high.
In this update, I talk about that and look at some new metrics, miner behaviors, and the altcoin market. Specifically:
If you missed (or sold) this pump
Miners selling at a faster pace
Beware the aSOPR
Careful with BTC pairs and BTC dominance
Altcoins on the verge of breakout?
My latest altcoin buy
I strongly advise watching the update for nuance, perspective, background, and the best results, but I realize you may not have much time to spare.
To speed up the video (shorten the playing time), tap the circled gear button at the bottom-right corner of the video: