Weekly Rundown - May 1, 2022
Are we doing this or not?
Happy May and عيد مبارك to those who celebrate it. I’m feeling quite ill so I will keep this rundown short with a different format.
Did you catch my update from earlier this week? If not, please do. In the update, I talked about some recent changes in miner behaviors and some trends in stablecoins that you may want to see.
In last week’s rundown, I asked which price will come first for bitcoin—$33,000 or $52,000?
58% of respondents said $33,000.
Granted, that was from only 182 votes, which is very low for my polls, so take that for what it’s worth. From the sentiment I’m getting from social media and the bitcoin fear/greed index, I would have expected more people to select $33,000. Seems like the overwhelming consensus says we are about to have a massive drop, presumably below $33,000.
Paid subscribers, I’ll have one or two updates this week. Everybody else—scroll down for some interesting stuff you may enjoy.
I don’t post much on YouTube, just occasional short videos that don’t fit very well in this newsletter. I posted three short QA videos just the other day, if you’re interested.
Celsius says no interest for US customers, $300,000 bitcoin prediction
Saylor sold Microstrategy’s bitcoin? Probably not, but I’ll bet his employees did
Coinbase Accused of Insider Trading; Is There a Base for the Allegations?
Rumors say Coinbase insiders bought a bunch of various altcoins shortly before Coinbase announced it may potentially list those tokens.
Dirty business, this.
More dirty than traditional finance? Debatable.
Unlike traditional finance, the transparency of the blockchain lets 7 billion detectives figure out what’s going on. Your regulators can only hope to have this much insight into whatever Wall Street’s doing.
State of the Market
About two and a half months ago, Kevin Zhou with Galois Capital published a Medium post that reflects on some key failings of the crypto space.
Not just the grift, as he calls it, but the way you perceive the cryptosphere when prices are up compared to when prices are down. Read it now.
In defense of farming
Blockworks highlighted the difference between Ponzi schemes and the use of staking as rewards, as well as the new incentives that come from staking.
Reminder: stake your altcoins when possible. It’s free crypto and the only way to fight the inflation that comes from token rewards.
Relax and enjoy the ride!
Weekly Rundown - May 1, 2022
Hello Mark,
Thanks for everything ! i have a request : Could you please make more posts about other altcoins ? maybe the ones worth investing at, and if you can find news sooner than us, then could you please share your findings ? like when a good altcoin that's worth investing in appears, that would be a HUGE help to everyone !
About a month ago you gave me some good leads for altcoin, like atom, rose, luna.. and that was very helpful thank you ! i was trading in coinbase pro and didn't even know they existed (some were not listed on coinbase that time).
I also have a question if you don't mind, i recently invested in APE, i made some profits, HODLed and now it's going down fast, and i don't know if i should cut my losses, or wait for it to go back up. i would presume a good altcoin is surely one that bounces back ? so my question is : is APE a good altcoin ? and how to find out on my own next time ?
Thank you so much, and sorry for the long comment.