The Brief for October 19, 2020

A little late but better than never, right?

Bitcoin’s price seems like it’s zooming but it’s about the same as it was one week ago. Altcoins still down, DeFi still bleeding. I’ll bet for some of you, that drop to $9,800 seemed like a LONG time ago. Did you catch the dip?

Will we get back down to that price? Interesting signs all around us. I’ll send a video to premium subscribers in a few days, once I have a chance to collect my thoughts.

Meanwhile, I have only one article for you today, below. The article’s in English and links to English and Ukrainian websites. Crypto is global :-)

If you didn’t have a chance to read or listen to my most recent monthly issue, please do:

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• Crypto Exchanges Are Massively Shutting Down in 2020

  • Bottom line: this year, crypto exchanges have closed down at a 56% higher rate than last year.

  • My take: hard to confirm that number but I’ll trust the reporting on this one. Consolidation’s good. Crypto needs fewer shady exchanges, bad offerings, and shitcoin pumpyards. Unfortunately, some legit, honest exchanges got swept away, too, as they found it too hard to comply with regulators and local laws. Two-edged sword.

  • Why we care: more traffic, money, and talent can flow to legit exchanges with competitive offerings, a wider selection of markets, and approval from governments. Users win.

PS—don’t sweat the US election or the (lack of) new stimulus. Some think markets may get rough and volatile. We’ll see. Keep the big picture in mind and it will all seem trivial in a year or two.

Relax and enjoy the ride!