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Captured in a landslide, no way out of the bear market reality.
One of the Ethereum development teams that is currently building decentralized futures is not looking for sympathy, but has announced that they are poor.
Bismillah! Their prayers were responds from Vitalik Buterin the creator of Ethereum himself.
This triggered a reaction from the followers of Vitalik, who were able to indicate the nickname of Vitalik … "Non-Giver of Ether".
Thanks to the transparent nature of Ethereum, we can track the transaction on one of the Vitalik wallets and see a small outline of its presence on the network. YOLO !!
Perhaps the most important are his holdings in Maker, Kyber and OMG. His balance of Spank is almost empty but he has a digital kitten …
Apart from the jokes, the ETH 1000 sent were certainly not a gift. It was a strategic investment in the network to support the much needed efforts to downsize the Ethereum blockchain.
We hope that the Rhapsody pay off.
@MatiGreenspan
eToro, senior market analyst
Today's Daily Market Update pays tribute to the most streamed twentieth century song: https://youtu.be/fJ9rUzIMcZQ
Today's highlights
Continue, go ahead
Galileo Figaro Magnificent
Face the truth
Note: all data, figures and graphs are valid from December 19th. All trading involves risks. Only risk capital that you can afford to lose.
Traditional markets
Too late. The Fed's moment has arrived. The monetary tightening makes me shiver down my back. The economy is sore all the time. Goodbye quantitative easing. ZIRP must go. I have to leave the president and the markets behind and face the truth.
Mom … this is the way the wind blows …
The US Federal Reserve is expected to increase the benchmark interest rate by 0.25%. The markets have been ahead of the beginning of October in anticipation of rising interest rates, but at this point it is simply too late to reverse. Whatever, except for a complete delivery of what the economists expect, it would project weakness. Of course, they would prefer to spare us from this monstrosity.
Now for a certain perspective here is a graph of the S & P500 in the last 50 years where each candle has three months. This last one was probably put aside by Beelzebub.
Leave everything behind and face the truth
I do not want to die, and neither does the cryptography market seem. The action on the prices of the last days is a clear demonstration of this. There are two news stories that people are pointing to could help drive positive sentiment.
The number one is this article by Bloomberg, who did the research and found that Tether actually has the promised reserves.
The second is an update of the ICE, which appears to be ready for launch on January 24 (pending regulatory approval). The update is from a week ago, but the times and dates in the note seem to align the market movements quite well.
Galileo Figaro Magnificent
Although Galileo loved to watch the moon, he also studied gravity. After all, market action is nothing but practical physics.
Figaro managed to enter into a legal marriage contract despite strict authoritarian supervision.
And is not it as magnificent as the cryptographic markets are moving lately ?!
For those who wonder why we are seeing this impressive push from the floor, the only one explanation I can give is that this rally is all about short coverage.
Especially after the short squeeze we saw on Monday, today's action is simply a continuation of that. Markets are made up of people and it is likely that most people will try to reduce their exposure before the holidays.
In recent weeks there have been many short positions with high indebtedness and when those sales positions are closed, it creates upward pressure on market prices.
The proof of this can be found hidden in plain sight.
Take a look at how Bitcoin Cash, which was probably the most controversial of the coins and that many have accused for the recent slide, is about twice what the rest of the market has done today.
This is real life, so have a good day!
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Past performance is not indicative of future results. All trading involves risks; only venture capital you are willing to lose.
The presented perspective is a personal opinion of the analyst and does not represent an official position of eToro.
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