Again, sincerely appreciated your content & the timing of it, Ben! Again, I wish I had discovered you earlier...
I had the same overall bearish bias about the market, hence been sitting tight, so very glad to read your article! Although, I was wondering what you think of this tweet thread? Ty!
Definitely a lot of correlation out there. I looked at the nasdaq for a while... but it isn't responding lately in the way bitcoin is. Sort of why I dismissed it, but the ARKK fund is interesing... but that also tracks crypto I believe, so bit self fulfilling, which means the other part of the basket is likely tracking the nasdaq.
Great writeup. I looked up ARKK holdings and only 3.5% is in the crypto sector (COIN) whereas ARKW is about 13% (GBTC + COIN).
Will be interesting to see if institutions are indeed coming or if the volatility plus ETH narrative (store of value plus functionality) scare them away from BTC and crypto. Also what happens in a strong dollar and deflationary H2 2021?
For lower prices you mean new lower low, under tha last low?
Do you checked the Grayscale situation?
As I saw 12-13 july beginning there would be BTC unlocking which were purchased at 31-35000 prices... So if we are going above those prices, maybe there would be a sell pressure from them...
Again, sincerely appreciated your content & the timing of it, Ben! Again, I wish I had discovered you earlier...
I had the same overall bearish bias about the market, hence been sitting tight, so very glad to read your article! Although, I was wondering what you think of this tweet thread? Ty!
https://twitter.com/jon_ftx/status/1409764973371404289?s=20
Definitely a lot of correlation out there. I looked at the nasdaq for a while... but it isn't responding lately in the way bitcoin is. Sort of why I dismissed it, but the ARKK fund is interesing... but that also tracks crypto I believe, so bit self fulfilling, which means the other part of the basket is likely tracking the nasdaq.
Great writeup. I looked up ARKK holdings and only 3.5% is in the crypto sector (COIN) whereas ARKW is about 13% (GBTC + COIN).
Will be interesting to see if institutions are indeed coming or if the volatility plus ETH narrative (store of value plus functionality) scare them away from BTC and crypto. Also what happens in a strong dollar and deflationary H2 2021?
Then I think the BTC narrative isn't as strong as an economy where inflation is rising and DXY is losing value.
Hi Ben, this was my q to Tim re his tweet, also in the context of your article, wondering what you think?
Thanks Ben for your market update!
For lower prices you mean new lower low, under tha last low?
Do you checked the Grayscale situation?
As I saw 12-13 july beginning there would be BTC unlocking which were purchased at 31-35000 prices... So if we are going above those prices, maybe there would be a sell pressure from them...
What do you think?
Selling GBTC doesn't impact spot prices.
Yes, lower lows worry me IF we trend towards $30k and Pablo wakes up again