Monthly Crypto Alpha Report – November 2023

November 2023

It's over... we're so back... it's over...

But really, we're so back!

If a chart were a painting, then the BTC chart could make a grown man weep. And no, we're not in a raging bull market. But it appears we've just left the indifference/depression stage of the market cycle.

The BTC chart has given us official permission to be hopeful (of course, we had never lost hope to begin with).

Let's have a look at last month's developments.  

The 'Coin Telegraph intern' that pumped the price based on a rumor of a Blackrock spot BTC ETF approval may ironically have kicked off the new phase of the bull market... This initial pump of October 16 got rejected, as the rumor turned out to be false. 

But the mood had noticeably changed. Traders and investors suddenly seemed to have been given the price action playbook for an actual BTC spot ETF approval, which is likely imminent.

Finally, a week later, on October 23, BTC broke out of the price range it had been trapped in for more than half a year. In no time the price shot up and briefly exceeded 35k.

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The BTC breakout also marked a clear decoupling from the stock market. A temporary phenomenon? We'll have to see. But it is a significant move from BTC (blue) compared to the Nasdaq (orange, ironically, in below chart.) 

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  1. Hey
    Have a couple of questions:
    1. There has been a lot of hype around gaming cryptos recently. What do you think?
    2. Should we buy into those now or wait..?
    3. I see that you have removed coins like Dio from your portfolio(which has pumped now a bit u
    feeling fomo too..? :’) ) and how do we not feel fomo at times like these
    4. Are you accumulating any new gaming coins or thinking to buy any..?

    Sorry for such huge questions
    and Thanks for your monthly reports
    Love the details


    1. 1 The gaming coin hype is warranted IMO, there are some killer games under development
      2 I cannot tell you when to buy or sell
      3 DIO – it was a tough call, but I cut it because in the bear it looked like they were going to run out of money and shut down. It seems they made it. I may regret that sale one day, but oh well.
      4 I have some venture investments in gaming coins that are still to release. Otherwise not looking to add any new ones to my portfolio. Although I may add more to illuvium.

      Always happy to answer questions

  2. Hey
    I have just checked my metamask wallet this morning and It is a nightmare
    It seems my account has been compromised somehow
    I have lost 60% of my portfolio, which was in my metamask
    I have changed my password for now and I will order a hardware wallet
    and I learned my lesson the hard way
    What else can I do to be careful next time?
    do you keep all your coins in the same ledger..?
    or else please write in a post sometime regarding how to keep our accounts safe

    1. Fuck… this is not the message I wanted to wake up to. Sorry this happened to you.

      Changing the metamask password is not enough. You have to assume they have access to the keys. This wallet can never be used again. You will need to start a new metamask wallet account.

      Some quick tips
      Get a hardware wallet and store most of your coins there.
      Hot wallets like metamask are only to be used for stuff like airdrop farming
      use different addresses for different farming
      be careful about approving contracts

      Did you use any new apps in the last couple of days?

      1. I have ordered a ledger nano S
        and yeah
        last night
        i was going through dappradar and tried some avax Chain-related games and connected my wallet to some of them
        and a portfolio tracker app debank
        I did make the mistake of using one address for everything
        i will use diff addresses

        I will never use this address again

        1. Damn, yep, that was it. Something there was a malicious contract designed to steal funds. Sorry again. Hoping that 40% of your portfolio that is left can make you massive gains! Make sure to get outside and get some fresh air, call your family. Talk about it, that can help!