19 Oct: Crisis Brewing

"Many receive advice, only the wise profit from it."

-Harper Lee

 

Big News Of The Day: Carl Icahn sees market crisis brewing, notes Bitcoin's potential


Podcast Of The Day: The Pomp Podcast - #693 Bitcoin ETF Deep Dive w/ Eric Balchunas and James Seyffart


Video Of The Day: Altcoin Daily: BREAKING: Grayscale To File SPOT Bitcoin ETF! Ethereum 10k Prediction! Bitcoin NEW ATH End of Oct!


Blog Of The Day: The First Bitcoin ETF in the U.S. Is Here — Don’t Be So Optimistic, It Is Not Based on the Spot Market


My Hot Take

Longtime activist investor and Icahn Enterprises Chairman Carl Icahn spoke to CNBC today on U.S. markets, inflation, monetary supply, and bitcoin. Icahn explained that he believes a market crash is looming as excessive money supply floods the market along with the uptick in inflation rates — a scenario in which Bitcoin would be particularly valuable. At the same time, Billionaire Mark Cuban says that bitcoin will be ‘the safe haven of crypto’ with one ‘huge advantage’ in that it has “ZERO competition” as a store of value.


Meanwhile, Scott Minerd, Global Chief Investment Officer of Guggenheim Partners, and the man who said last December that “Bitcoin should be worth about $400,000”, said that he is no longer playing in the Bitcoin market. Remember the last time Bitcoin went Parabolic he was out.


Case in point, On-Chain Metric MVRV says Bitcoin is about to go “parabolic.” The leader of The Forward Party – Andrew Yang – said his political organization will have a pro-cryptocurrency approach.


As it pertains to all the bullish Bitcoin ETF news, Valkyrie’s Bitcoin ETF changes ticker to BTFD and Invesco will reportedly pursue a spot Bitcoin ETF instead of a futures one.


The number of unique addresses on the Polygon (MATIC) network has recently hit a new all-time high above 100 million as users keep taking advantage of the low transaction fees on its network and using it to access decentralized finance (DeFi) applications.


Bakkt sheds more than 6% on its first day of public trading and the NYAG is taking aim at the crypto lending industry, announcing investigations into Nexo and Celsius and probing ties to Tether Limited. However, since Nexo doesn't operate in NY - it's a moot point eh?


Best Performing Top 10 Asset is: BNB - $490.37


Well that's a wrap but, continue to read, watch, and listen to the information I curate on my website. I believe you will be well positioned to benefit from the most transformative technological shift we've seen in our life time. Be STRONG and HODL on!


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Remember: Bitcon 2022 tickets for Apr 06-09 in Miami and Consensus 2022 is Jun 10-12 in Austin, Texas; hope to see you at both!

 

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