So the SEC won’t let me be, try to shut me down with BTC” — Eminerem
Have you always wanted to physically morph into your snapchat filter? Now you can thanks to Dr. Gabriel. When morph into bull run sir? Additionally, you’ve heard of ‘rekt’ and ‘lambo’ by now. If you’re this British fellah, you’ve morphed into both. Well… with an additional £36K fine for lunacy.
Why is bitcoin’s price important? Jimmy Song, a vocal developer and advocate for the original cryptoasset, explains its role as a store of value in this new video and how price is a proxy for how well that role is being fulfilled in the grand scheme of things. In addition, as we regularly evoke, bitcoin acts as the major bellwether for the rest of the market.
So, why has everyone on CryptoTwitter been talking about alternative cryptoassets over the past couple of days? Alt season jokes aside, when alts lose their correlation to BTC, ether becomes a better harbinger for alts. It seems as ETH’s price has been able to find some strength over the past five days, Twitter traders are hopeful again.
Note that if bitcoin fails its continuous testing of the £5.25k ($6.8k) support then capitulation could follow suit. Twitter traders represent a small and salty portion of the space thus, one should always wear an extra pair of lenses whilst analysing their thoughts, Additionally, even ether looks shaky if charted against fiat rather than against BTC.
Meanwhile, don’t try to chase a trade after this weekend’s big moves, as both bitcoin and ether are ranging. Consider Hsaka’s remarks that “more often than not, price will consolidate after big moves” and move slowly. Even if alts follow BTC on an upwards move — instead of moving inversely — we might not see a bull run for alts as easily.
▪ Diar’s latest issue reports “Initial Coin Offerings tumble to one-year low”. Teams are raising money in private sales and the absence of “mega raises” are the likely culprits.
▪ Argo is a UK-Canadian company which recently ventured into becoming the ‘Netflix of crypto mining’. It went public on the London Stock Exchange, raising £25 ($32) million.
▪ CoinDesk put out a good overview of ‘smartdrops’ — the latest iteration of airdrops — following a recent paper on “How To Bootstrap Dapps and Protocols Without an ICO”.
▪ Balázs Némethi, a crypto entrepreneur, shared his “Token Engineering Canvas & Agent Behaviour Map” together with some insights on the basics of ‘Token Engineering’.
The London Stock Exchange will be known as the Antwerp Stock Exchange of the third millennia. That is, an extinct exchange of which the origins of the token economy can be traced back to. As long as more Block exchanges tokenise the world’s assets, that is!