The Trader Top 9: Bearish Buffett and Bitcoin Halving Hype
Cove
05/07/2020 09:17

Welcome back to another edition of the Trader Top 9. This week, we feature discussions of Warren Buffett's surprising bearishness at Berkshire Hathaway's annual meeting (held virtually this year); some fascinating statistics around the growth and usage of stablecoins; and of course, more than a little bitcoin halving hype. Let's dive in!

9. During Saturday's virtual Berkshire Hathaway shareholder meeting, the perennially optimistic Oracle of Omaha Warren Buffett seemed, well, not so optimistic. 

8. It seems like much of Buffett’s bearishness comes down to simply not knowing of what to expect. Given that mainstream economist are discussing ideas previously beyond the pale, it’s not hard to understand that take. 

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7. For many passive observers, the disconnect between Wall Street and Main Street feels palpable and strange, even if there are rational explanations.

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6. Still, for the crypto community, it’s hard not to focus on all the bullish signals going into halving. Outside of bitcoin, stablecoins are rallying in a massive way as the global demand for dollar exposure pushes people to even synthetic versions. 

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5. In bitcoin, we’re seeing a perfect storm of macro factors coming together.

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4. What's more, analysts aren't dismissing this price rally as some random manipulation.

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3. On the back of the halving narrative plus excitement around price, mainstream exposure is coming back.

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2. What’s more, it’s not just hype. Square’s Cash app saw the majority of its Q1 revenue come from bitcoin sales. 

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1. The reality is that, unlike so many rallies in the past, this one feels driven by an appreciation of the resilience of bitcoin as an asset.

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About CoveTrader

CoveTrader by Cove Markets is a platform for active traders of bitcoin and other cryptocurrencies. The crypto market is highly fragmented with dozens of exchanges and limited availability of trading tools. CoveTrader ties the market together in one powerful and transparent trading and analytics platform.

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