Sunday Rundown - February 14, 2021
Holy bitcoin, altcoins are zooming!
Some say this is the sign the top is in. I don’t.
That doesn’t mean we can’t have a long, powerful, healthy crash that prolongs this bull market—or even a 20-30% dip along the way to a massive blow-off top.
If that happens, it will terrify you. Fortunately, we have plenty of data to tell us when that drop marks normal volatility or a major shift in the momentum of the market. You can have parabolic moves and massive crashes without getting to a market cycle peak (or bottom).
This is a volatile, speculative market. We can crash 60% from today’s price and remain in a long-term uptrend. Be careful out there.
For those wondering what I’m doing, I’m riding the roller-coaster and following my plan.
I get a lot of questions about navigating crypto, wallets, MetaMask, DEXs, and the general cryptosphere. It’s a confusing place!
What do I recommend?
Sign up for a free membership to DAN Teaches Crypto. I don’t have a referral link, just sign up, you’ll learn all the basics. He does it better than I can!
Read below for some interesting news and a podcast you may enjoy.
Actually, before you scroll down to those, a quick reminder that tomorrow is the last day to subscribe to Altcoin Insights, my research service.
Altcoin Insights is dedicated to finding small altcoins before everybody else does, then building long-term wealth through the growth of their networks.
I will close the service to new members after February 15, 2021.
Please take a few minutes to read the information I have posted on the Altcoin Insights website.
Altcoin Insights does not offer trading opportunities and often, my recommended altcoins are hard to get.
During altseason, you don’t need to fuss with any subscriptions—mine or others—you can just buy a handful of alts from the CoinGecko DeFi list and chill. Everything will go up.
After altseason, you will need a service like Altcoin Insights. I discover hidden gems to accumulate for the long run and deliver them to you, each with its own specific investment thesis. Worth the effort, in my opinion, but not everybody’s cup of tea.
Check out Bully Esquire’s February 5, 2021 episode, Breaking Down Crypto Markets with Ari Paul.
I’m a fan of Bully’s podcast and Blockworks in general, and this episode has some interesting reflections on DeFi and its future, the choice between farming vs. governance tokens, and the general market environment.
Apple Pay can now be used to spend Bitcoin
Bottom line: BitPay now supports Apple Pay.
My take: clever headline! Factually correct but Apple has nothing to do with this. You can now add your BitPay card to Apple Wallet. Soon, you can do this on Google Pay and Samsung Pay. That’s all.
Why we care: read the articles, not the headlines.
Loeffler’s old Bitcoin platform going public
Bottom line: Bakkt will go public. It will list on the New York Stock Exchange in Q2 with an estimated value of $2.1 billion.
My take: I thought Bakkt was dead? Well, that explains why I have the app on my phone (and got $10 bonus for testing it).
Why we care: you don’t hear about Bakkt anymore because its PR people stopped buying paid media and content creators found Bakkt-related content didn’t get them as many clicks and engagement and other topics did. As soon as people can make money covering Bakkt, you’ll hear about it again—and they won’t call it “an ex-Senator’s old Bitcoin platform.”
Speaking of Bakkt, sign up for early access to the Bakkt app.
Relax and enjoy the ride!