In This Issue
- I share my thoughts on the state of the market, the FED pivot, QE infinity, Binance Smart Chain paused, Mango Markets, Avalanche on Opensea and Ethereum is deflationary.
- Rekt Capital has the latest technical analysis for you on the Bitcoin halving.
- Erik has a report for you on the blockchain trilemma.
- Defi Dad has a tutorial for you on how to earn 34% APR with wstETH on L2 with KyberSwap.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
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What’s On My Mind by Lark
The State of the Market
Limbo… Bitcoin, after being rejected again at the 50 day EMA on October 6th has come down hard.
But, this move has really only seen Bitcoin maintain within its range. Except for a few days Bitcoin has been trading between $18,500 and $20,500 since the end of August! The crab market is well and truly here!
*** Do note that periods of extended calm tend to precede periods of often extreme volatility. And in a bear market, that volatility is not expected to the upside…
The amount of Bitcoin on exchanges just keeps dropping. We recently got back to the same level that we saw in November 2018!
This is a wild bear market due to this.
While prices are indeed in the gutter, interest from buyers remains steady.
While markets have pretty much been a raging dumpster fire this year we continue to get crazy stats like the one above. Here are a few more from this week.
- Ethereum added 135,000 new addresses on the 10th.
- Polygon hit a new high of weekly active users at 1.4 million. IN A BEAR MARKET!!!!
- 12,000 Brazilian companies have declared holding crypto on the balance sheets.
- Google announced an integration with Coinbase for institutional crypto services.
- Millions still being raised across the crypto space, with very active VC involvement.
And that is just a small sample to make my point. I for one will stay dialed into the markets and continue to look for opportunities, because they are 100% out there, and this bear market is very unlike the 2018 bear market. The number of builders, investors and active users still here is INSANE!!!
That being said…
CPI data is scheduled to be released tomorrow. For most of this year it has been a market moving event, I expect this time to be no different.
For what it is worth many big analysts are still calling for more downside in stocks. IF, this proves to be true, then crypto will not be spared.
I know that everyone wants to rush to call the bottom, but bottoms form up over time and you DO NOT need to perfectly time it.
The Coveted Pivot
More and more we are hearing talk of a potential FED pivot. This will most likely be the turning point for the market when it does.
Until that time, the FED will continue to be like a wrecking ball crushing everything in its sight! But, at some point the pain in markets could become too extreme and already real risks of mass contagion events like UK pension funds being on the brink or systemically important banks being on the verge of collapse are threatening a change…
