"Once you make the decision, you will find all the people, resources, and ideas you need...Every time." -Bob Proctor
Happy Saturday! Let's get after it...
My Hot Take!
Once again we are STUCK. Bitcoin refuse to make a clear decision on which direction it is heading.
Biggest news article of the week for me was about the CBA stating that it will support 10 crypto assets in its banking app, including Bitcoin, Ether, Bitcoin Cash and Litecoin. If you will remember the video I've shared with you about Ross Stevens talking about this exist situation, you really should re-watch it :)
For the Podcast of the Week, I choose was The Crypto Conversation where Andy Pickering talked with Checkmate from Glassnode who believes there is no top to the price of Bitcoin. In addition, Willy Woo pretty much said the same thing when asked about where the price can be headed. He said basically 1 BTC is 1 BTC - there is no top.
What you all need to know is that this asset is getting adopted by everyone, every where. We have 4 Mayors saying they will get paid in Bitcoin and I am working to get every candidate for the Congressional class of 2022 orange pilled. I'd love to have your help by reaching out to your candidate and have a open conversation with them about Bitcoin.
Well that's a wrapped burrito. Exercise patient and try not to get wrapped up in the day to day drama in the space. Zoom out. Remain focused, Stack Sats, stay STRONG, and HODL on!
GET INTO THE WEEDS!
Price: One week ago, Bitcoin was $61,683.85 and now it is $60,555.75. We did see more upside as November begin but that has changed over the past 4 days. $60K is reminding me of $30K but only time can tell for sure; in the meantime be prepared for any situation. We could continue to trade sideways in a very tight band before breaking out strongly toward the end of 2021 or we can has a bear trap where we see a big drop before ripping higher or we can blastoff to the moon!
Altcoins: Best performing top 10 Altcoin for the past week is SOL; it is up +23.99%. This asset has performed well over the past week but there were rumors that the Billionaires were manipulating it. Runner up is DOT; up +49.84%.
Follow Dat Money: Welcome to The Crypto Curator’s Block Party for the week of Oct 21-28. Incredible is defined by Webster as “difficult or impossible to believe” and I’d say based on the numbers you see below, it’s definitely difficult to believe this much money is being put to work.
Another week and another $2.6B dollars flowing in as Google puts the icing on the celebratory cake this week pushing big dollars toward CME Group and Digital Currency Group.
Oh, how the light bulb has popped on!
A common theme this week continues to be Metaverse, gaming, and DeFi as always. OK, folks let’s roll the script:
- Monday: Ethereum Value Settled Surged to $536 Billion in Q3
- Tuesday: NFL quarterback Aaron Rodgers will accept part of $22M salary in Bitcoin
- Wednesday: Commonwealth Bank to enable crypto trading for 6.5M Aussies, ‘other banks will follow'
- Thursday: US lawmakers call on SEC chair Gensler to approve a spot bitcoin ETF
- Friday: Bank of America COO: Crypto Could Add Value to Banks
PODCASTS OF THE WEEK
- The Pomp Podcast - #708 Inflation Is Permanent w/ George Gammon
- Unchained - Tor Bair of Secret on Why Private Smart Contracts Are Important
- The Crypto Conversation - There is no top - Bitcoin on-chain analysis with Glassnode
- On The Margin - Bloomberg Analyst: The Bitcoin Supercycle Is Here | Mike McGlone
- The Pomp Podcast - #712 Bringing Bitcoin To The Developing World w/ Ray Youssef
- Price of Bitcoin: -2.47% (week) | Dominance: 42.8% | MC: $2.7T
- Mayer Multiple: 1.35 (-.02)
- Nodes: 12144
- Github: 31,263 (33) Commits | 828 Contributors