Market Report: 30 Oct. 2018 — Subscribe to our newsletter.
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The daily view from our desk
Dressing up as a celebrity for Halloween is all the rage these days. Trump will be a popular choice given the amount of meme grade content he has provided. Always remember that there are limits to what you, or your child, can dress up as. And if in doubt for what to wear, dress up as a banana with 50 mates like these Aussies.
THREE STRIKES AND YOU’RE OUT
What if the original cryptoasset fails to bounce the next time it meets $6k?
At last a move — even if it wasn’t a particularly bright one. As bitcoin dropped 2.1% since the last newsletter, 90 of the top 100 alts followed the quasi-original idea shared almost ten years ago — and fell 3.4% on average. For now, BTC “still looks ok”, as the Monk argues based on the daily close. But winter is here and salty bears are leaving their hibernation period — just check MoonOverlord and his warning-labeled tumble targets.
To succeed in this pacific period, Cantering Clark stresses you “can never let your guard down”. Be it the calm before the storm or not, remember the market is agnostic. It might not seem like it due to all the negative market sentiment, but Mr. Anderson reminds that exactly one year ago BTC first broke upwards of £4.7k ($6k) with confidence and it only closed below that level on two days — so far. Will the third one fail to bounce? Impossible to tell, but — at least for now — Alex Krüger notes downward continuation is more likely.
HUNGRY FOR POWER
Will Devcon 4 builders hack a solution to mainstream media’s shenanigans?
These days, most people are preparing reflections on the impact Bitcoin had over the past decade. But not all of these are positive — or good. Take the case of yesterday’s viral stream of articles — based on a supposedly credible piece of research published on Nature Climate Change, a peer-reviewed side publication of the well-known group. Fortunately, Nic Carter offered the usual good rebuttal on the three pages of guesstimations.
Their extrapolating techniques are the laugh of the day. Which could mean yesterday’s mini-dump might be short-lived, provided it had anything to do with bots — because sane humans have left the markets as of now — picking up the news and selling BTC after. Meanwhile, as Ethereum’s Devcon 4 is starting this morning in Prague, it’s time to follow the buidlers who are promoting adoption in this space. Check out the great agenda here!
WHAT TO LOOK OUT FOR
Filter the noise and stay ahead of the pack
▪ Bitstamp, one of Europe’s first exchanges, has been acquired by a subsidiary of NXC, a Korean group which acquired Korbit, Korea’s 2nd largest exchange, in 2017.
▪ The UK’s Cryptoasset Taskforce has published its final report. It concludes DLT has significant benefits and is committed to allow innovators who play by the rules to thrive.
▪ Do you want to take advantage of this bear market and work in the space?Cryptocurrency Jobs shared a great overview of the blockchain job market.
WHAT TO READ TODAY
An insight a day could give you more profits to play
▪ Peter Todd, a popular cryptographer, just shared some fresh thoughts on last year’s Bitcoin fork and the civil war that happened between different mining groups.
▪ Alex Butler, our newsletter’s first editor, is an excellent writer and technology enthusiast. We might be biased, but this is the best “introduction to Plasma” we’ve read!
▪ Do you think security tokens can disrupt traditional equity markets? Abhimanyu Godara, a self-described freedom maximalist, believes they can disrupt the world.
Because the building blocks of crypto needn’t be irrelevant
Even though DLT sounds like a mosquito repellent, it’s just a fancy acronym for distributed ledger technologies. And blockchain is a type of distributed ledger.