The Trader Top 9: Stablecoins, Bitcoin Predictions, and Better Trading Tools
9. CryptoCred is one of the best known and most respected traders on CryptoTwitter and jumped in for one of his (all too rare) analyses earlier this week
8. Other traders looked at volume clusters to make an argument that, more broadly, the bottom for bitcoin was already in
7. In a funny twist, Alex Kruger points out that while crypto analysts are critiqued for limited data points, the wider markets are doing the same thing right now!
Now, let’s take a step back and talk about some of the big themes of crypto in the economic crisis.
6. One of the major stories has been stablecoins. As people around the world look for USD exposure, they’re surging.
5. And speaking of stablecoins, Libra made some major announcements this week - notably that they’ve moved away from the basket of currencies approach and to individual currency denominated stablecoins
4. Of course, part of the demand for stablecoins represents investors looking for safety in stability. Interestingly, some (including the Wall Street Journal) are arguing that safe havens aren’t functioning like many would think.
3. Mati Greenspan zoomed out to get the real tail of the tape for an array of assets since the crisis began
2. But of course, looking forward is even more fun than looking back. Alex Kruger again goes on record with his medium term thoughts.
1. What’s for sure is that the world is changing and changing fast. Although the “glory days” (read: crazy bubble days) of crypto may be behind, these assets still have huge potential - and what’s more - much better tools for making better decisions. The best is yet to come!
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