Crypto Banter Notes - 051121 - Tuesday May 11, 2021

By cryptogardens | Crypto Banter Notes | 11 May 2021


 

Crypto News

  • Mark Zuckerberg names his goats Max and Bitcoin. Does this portend to Facebook having a sizable chunk of BTC on their books?
  • CBOE sends Fidelity-linked Bitcoin ETF application to the SEC.

CBOE Fidelity BTC ETF

  • BlockOne, the company behind EOS, launched Bullish Global with $10B in funding. It is a decentralized exchange based on EOS. Ran still considers EOS a languishing project that just happens to have lots of money in their treasury.
  • JP Morgan posits that Ethereum should only be worth $1,000 based on network activity. Ran proceeds to roast these old-money newcomers to the space.
  • Doge news: Elon Musk contemplates accepting Doge for Tesla (Ran thinks it will happen within months) and a senior Goldman Sachs trader quits his job after making a fortune trading Doge coin.
  • Stock market plunging with an ugly gapping red candle. Chatter on MSNBC that due to the US Fed’s negligence, the US dollar will lose its status as world’s reserve currency (and a ledger-based crypto will replace it). Printing lots of money begets inflation which will require interest rates going up. This will in turn plummet asset prices including stocks and maybe even crypto.

Crypto Market Condition

Guest joining Ran and Sheldon for this segment: Rudo TheChartArtist

Rudo is looking for an SR (support / resistance) flip around $55,800 for Bitcoin and is cautiously bullish. Sheldon agrees that we are looking to hold support and is also waiting for a Bitcoin dominance bounce for a potential $220K end-of-this-bullrun BTC price. DXY, the indicator for dollar strength, is also dumping which is good for Bitcoin, and Rudo thinks it goes lower, first towards 85 before another plunge towards 80.

Focus on New Coins

Ran thinks so much dumb money is moving into crypto (Doge and other meme coins) and created the Dumbcoin which indexes the following coins:

• Dogecoin

• Shiba Inu

• Akina Inu

• Safemoon

• Safemars

Dumbcoin

The value of Dumbcoin is all of these shitcoins added together. As this value goes up, you should be really really scared! The more dumb money enters the market, the more market forces will conspire to shake these newbies out of their positions.

Hot  / Emerging Coins

  • Ran is looking at layer 2 solutions like Polygon, and in particular its dex Quickswap ($QUICK). If you’re bullish on layer 2, look at a cross liquidity dex like $DFYN.
  • Ran is looking to buy $RARI on the cheap because although it was hacked, Ran thinks they will recover in value.
  • Look at distributed computing gems - AIOZ & Akosh (AKT) (decentralized computing power) and decentralized file storage - Arweave and Coldstack. Coldstack aggregates different decentralized file storage protocols to get you the lowest price.
  • Interview of Prashant from ARGO … long story short, they are integrated and bullish on Arweave. ARGO’s IDO will be tomorrow on PAID network and then will go to Uniswap and then Polygon. Ran transparently reveals that he's an early investor in ARGO and Prashant compliments how supportive he's been.

 

 

 

How do you rate this article?


7

0

cryptogardens
cryptogardens

Learning everyday!


Crypto Banter Notes
Crypto Banter Notes

Notes on the Crypto Banter show

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.