Keep an Eye on Alts While BTC Goes Sideways in this Triangle
BTC has been going roughly sideways for months, some major coins have been in a similar pattern and/or underperforming. However, many alts have preformed well.
Opinions and Op-Eds
Cryptocurrency opinions, op-eds, speculation, and insights. Oh, my!
GBTC Premium is Near Zero; Historically that is Bullish for BTC
GBTC’s premium can act as an indicator for BTC. It is sort of a contrarian misery index. The lower the premium, the closer BTC generally is to a run.
Is Bitcoin the New Stable Coin / Is this Stable Coin Season?
People are joking that Bitcoin is the new stable coin because it hasn’t moved much recently despite US equities entering a correction. Meanwhile many big name stable coins have been released at once. Is this stable coin season?
Initiative Q Explained
Initiative Q is offering free “money” (“Q” in this case) to get you and your friends to sign up for its managed crypto-like payments system. Their site says all “Q” should be worth $2 trillion dollars. BIG RED FLAGS here folks. Let’s go over what Q is, some warnings, and how to sign up safely if you are determined to do so.
Many Low Cap Alts Are in an Uptrend, That is Encouraging
Although most of the major coins are so stagnant they are stable, many low cap alts have been in an uptrend or even “mooning” recently.
Crypto Showing Itself to Be An Uncorrelated Asset
The recent sell of in the stock market hasn’t had any significant impact on crypto prices. This is one bit of evidence that crypto may be an uncorrelated asset.
ZRX Was Added to Coinbase, So Don’t Forget About ADA, BAT, XLM, and ZEC
A while back Coinbase said it was exploring adding ZRX, ADA, BAT, XLM, and ZEC. Since ZRX was added, there is good reason to pay attention to ADA, BAT, XLM, and ZEC.
Tether Struggles to Hold Peg After Becoming UnTethered
Although Tether mostly stabilized and nearly regained its $1 peg after becoming “untethered” on Oct 15 2018, it is still trading under $1. This has some notable implications.
Bitcoin Trading in Tight Range With Lowest Volatility in Months
Bitcoin has been trading in an increasingly tight range, squeezed in a large triangle/wedge, between key EMAs, with bands tightening, with EMAs converging, resisting $6k over and over, and trading around mining costs. Meanwhile volatility is lowest its been in 15 months.
BTC Hitting Oct 2017 Support, GBTC Hitting Sept Support
BTC is hitting Oct 2017 support. That support has been holding well since Feb 2018. GBTC is hitting Sept 2017 support. That support hasn’t been tested since Sept 2017.