Posts

The stock guru Warren Buffett has always been known for his staunch anti-cryptocurrency stance. In 2019, the Oracle of Omaha said on a television interview, “All cryptocurrencies will eventually come to a bad ending.” In 2021, Warren Buffett’s partner, Charlie Munger, publicly criticized Bitcoin during a shareholders’ meeting, calling it “disgusting and contrary to the interests of civilization.” Warren Buffett himself has also publicly referred to Bitcoin as “rat poison” in the past. ...

Yesterday, Blockstream’s founder and renowned cryptographer Adam Back, in an interview with Bloomberg, mentioned that Bitcoin could potentially surpass $100,000 before the halving event in the first half of 2024.1 Surpassing the previous high before the halving event is an unprecedented occurrence in the Bitcoin’s development history of the past decade. ...

Friends familiar with the underlying mechanisms of Bitcoin are aware that on the Bitcoin blockchain ledger, it’s not individual bitcoins that are tracked, but rather individual Unspent Transaction Outputs (UTXOs). This technical term is referred to as “Unspent Transaction Output.” Some refer to these as “Bitcoin coins” or BTC coins. Currently, there are approximately 130 million BTC coins recorded on the Bitcoin ledger. An intriguing question is: How is the purchase price of these coins distributed? A research study from Glassnode provides some insights. ...

Overnight, Bitcoin continues to fluctuate above $29,000. The volatility index (30-day implied volatility of option prices) has further decreased, indicating exhaustion from both the bullish and bearish sides. According to reports, Bitcoin mining equipment manufacturers are shifting their focus from the saturated U.S. market to the mining market in Russia. Luxor Technologies, a mining infrastructure service provider, stated that more machines are flowing into Russia than any other place in the world. ...

Overnight, the Federal Reserve’s July interest rate meeting released its outcome. Bitcoin remained unfazed and continued its path of recovery since July 25, experiencing a slight rebound to the $29.5k level. ...

Overnight, Bitcoin continues to hover above $29,000. Most likely, the Federal Reserve’s July interest rate meeting has commenced. Tomorrow, we should know the outcome, and the market is poised to make a decision. ...

Overnight, Bitcoin experienced slight fluctuations around $30,000, while UNI steadily rose and is now close to $6. During the Sunday private board meeting, a member asked about the comparison between Uniswap (UNI) and Arbitrum (ARB). Both projects are undoubtedly of high quality, otherwise, the comparative analysis would be meaningless. ...

Overnight, Bitcoin slightly dipped below $30,000 but quickly rebounded, currently sliding along the $30,000 mark. A discussion about the entry barrier for cryptocurrency investment has sparked a debate in the overseas crypto community. It began when a newcomer asked a prominent figure how someone with just a few thousand dollars could start investing in crypto. Should they invest in Bitcoin, Ethereum, meme coins, or altcoins that outperform Bitcoin? Is it reliable? ...

Overnight, Bitcoin remains above $30,000, maintaining its consolidation for the 25th day since June 23rd. What is the key to successful investment? Many have witnessed people abandoning beta (average returns) in pursuit of alpha (excess returns), selling Bitcoin for meme coins, only to end up not outperforming the market and suffering significant losses. While some courageous individuals may regroup and start again, others might become disheartened and exit the market. ...

Overnight, Bitcoin continues to consolidate above the 30k level. Looking at the weekly chart, the previous day’s court ruling regarding XRP, which obtained a 2/3 non-security designation, turned out to be a mere “show of empty positivity.” It further depleted the market’s strength and brought everything back to square one, continuing the trend of slight decline. Short-term speculators have been repeatedly washed out, while long-term hodlers are unable to sell. Market liquidity is drying up, yet there is a lack of substantial catalysts for a significant change, resulting in the current awkward situation. ...