Sirwin
Sirwin

Christmas Crypto Conversations | Crypto Market Update 12.17


 

Overview

  • Xmas Crypto Conversations
  • Market Update
  • Major Crypto News
  • NEWBIES’ lesson of the day: Crypto Abbreviations

 


 

Christmas Crypto Conversations

 

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It’s a relatively quiet day in the cryptoverse. Price action is slow, and volume is low. It seems things are slowing down for the holidays and is typical around this time of year. People are leaving to visit families, and there is generally less work conducted. Traders and enterprises are also beginning to take profits for the year to either pay taxes or show off gains.

Here is the best thing that can happen to crypto in the coming week or two, and it has nothing to do with price or adoption. I covered price probabilities yesterday. All the people going home for Christmas, the executives holding parties and all the friends gathering, will need some interesting new subjects to discuss. I think this year it will be bitcoin, crypto, and buzz topics like NFTs.

Whether it’s talked about in a good light or not, the important thing is that the conversation is taking place. Next time the executive is watching CNBC and the bitcoin price shows +6% gain for the day, he’ll notice. Once a mother hears her child talking NFTs with a friend, she’ll notice. When all the fans enter the former Staples center, soon-to-be Crypto.com center, THEY WILL NOTICE.

 

Humans are incredibly great at networking. These thoughts about crypto will spread quickly in the mainstream, and once news networks realize the hottest subjects on social media are crypto-related, they’ll cater to their customers. My hope for the holidays is that those small dinner discussions on Christmas provide the fuel to help propel crypto into a promising 2022.

 

 


 

Market Update

 

Bitcoin (BTC) is down -1.49% and consolidating. $46.5k is showing signs of support. BTC will come in contact with the downtrend line soon, then it will have to choose to break out or continue lower.

Terra (LUNA) is up 3.27% as it continues its steady march upwards.

Harmony One (ONE) is up +6.32% preceding the launch of its Ethereum bridge scheduled on Monday. So keep an eye on ONE in the coming weeks.

 

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Polkadot (DOT) continues to get beat down -4.38%, despite the upcoming Parachain launch.

Notable Gainers

  • YEARN +33%
  • AVAX +10.5%
  • EWT +6%
  • CTX +46%

The rest of the market is a relatively mixed bag.

 

Bitcoin Fear and Greed index 23 extreme fear

Google Trends 35

Max Pain (Dec 30 Options) 48k

How to use The Fear and Greed Index for investing

 


  Major Crypto News 12.17

 

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Notable Events

 

Verox (VRX) is launching an Andriod App on Monday

Harmony One (ONE) is launching a trustless Ethereum bridge on Monday. This is huge news for the layer-1 smart contract platform. ONE has many upgrades scheduled in the near term.

 


 

NEWBIES’ Lesson of the day

Popular Crypto Abbreviations

 

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There’s particular jargon specific to crypto like any other community out there. It’s not created to make people feel left out but rather to strengthen community ties. I’ve mentioned a few of these buzzwords in my newsletter so it’s time I introduce the newcomers to some of their meanings.

HODL — Not to hold but to HODL. It means to not sell your crypto but to hodl for dear life. Rumor has this it this word was created in 2013 by an early developer of Bitcoin who was drunk while messaging.

DYOR — DO YOUR OWN RESEARCH. This has been used in the newsletter a few times and is very important. Don’t throw all your trust in my newsletter or Youtube influencer, DYOR.

FUD — FEAR, UNCERTAINTY, and DOUBT. We all know news profits off fear at this point. If you make it a habit to keep up with news (I got you!) you begin to see patterns of FUD and then elation. Don’t buy into FUD. FUD doesn’t mean the news isn’t accurate, FUD is just highlighting what is created to stir emotion.

FOMO — FEAR OF MISSING OUT. All your friends are going to the beach, but you have to work, FOMO! All your co-workers buy Shiba Inu, and you fear not getting rich with them, FOMO! FOMO is here to remind us that FOMO is a strong emotion.

DEFI — Decentralized Finance is any decentralized crypto project that offers financial services. Exchanges, Lending/Borrowing dApps, Yield Farms, and even Stablecoin are forms of DeFI. There are many more.

DEX — Decentralized Exchange. A peer-to-peer exchange that does not foster a third party as a middleman. UNISWAP (UNI) was the first of its kind in 2020, and now there are more than one hundred.

REKT — Short version of WRECKED. To get REKT means to lose a lot of your funds. If you have a bad trade, you can get REKT.

Can you think of more popular abbreviations or terms?

 


 

Hope everyone enjoyed the newsletter. Be safe out there!

Gabi

Follow me on Twitter and Medium or subscribe to this daily newsletter on Substack

To reap the benefits of this newsletter it’s recommended to read it every day to stay in tune with crypto markets. It will put the reader in the 2% of market participates that are well informed. The reader will begin to see opportunities that are not apparent to most and will open up many more. The newsletter is composed of many hours of daily research in charts, on-chain metrics, news and developing narratives condensed to a 5-minute update. It’s my contribution to a crypto community that has contributed so much to me.

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Gabi_
Gabi_

Market Research Analyst . Crypto Enthusiast. Hours of research condensed into a daily five minute report.


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