November 15, 2021

Choppy Waters

Introduction

It has been a choppy few days in terms of price action… While we see a select few projects do well, the broader market is still looking for direction.

It’s certainly true that navigating around Bitcoin and altcoin seasons has become less straightforward than just half a year ago. This makes sense since we have seen a myriad of projects launch this year, and now old and new projects have to compete for attention and capital.

What is the consequence? Only projects with the right narrative and product/market fit stand a chance to do well in this market. Just accumulating random projects to bet on “alt season” is likely not a winning strategy anymore… You really have to do your homework and find the fundamentally strong AND undervalued projects!

Ansem🃏🃏 @blknoiz06

in all seriousness tho u do have to pick the right crypto assets, they are becoming less & less correlated to each other

Inflation & Bitcoin Will Remain at the Center of Attention

• Most people in Western societies have the “Boiling Frog” syndrome, meaning that they don’t realize how out of balance the financial system they live in really is. Inflation rates at 6%, could be worse, right? In reality, many goods have gone up more than 20% in price this year… And there is no end to this trend in sight, leaving the hard-working middle class getting the short end of the stick (again).

Alex Gladstein 🌋 ⚡ @gladstein

That’s… like…. a year from now.

Bloomberg @business

The Treasury secretary repeated that she expects inflation to decline by the second half of 2022 https://t.co/uR0b6WPywl

Source: CNBC

• Even Elon Musk (every crypto investor’s best friend 😬) agrees that inflation is totally out of control.

Elon Musk @elonmusk

@Blockworks_ Inflation is the most regressive tax of all, yet is advocated by those who claim to be progressive

• Is there a way to opt out of this insanity called the financial system? Of course, we all know that the way out is crypto.

Blockworks @Blockworks_

Crypto is the only protection against inflation - Kevin O'Leary

• While we got the third Bitcoin Futures ETF approved for listing today, we still have to wait for a spot ETF…

Bitcoin Magazine @BitcoinMagazine

OFFICIAL: VanEck will launch its #Bitcoin Strategy ETF on Nov. 16th Ticker: $XBTF

• Are crypto prices destined to only go up in a straight line? Even though we all agree that crypto is the solution to many of today’s problems, history has proven that crypto investing is not an easy game. In fact, the majority of people still lose out when participating in crypto trading or investing and many even get “wrecked” badly.

• Especially now that we have enjoyed a many month-long bull market, the risks of turbulence are as high as they could be. Crypto is now present in all major economic and political arenas and push-back by incumbents, regulators, and politicians is as certain as the sun rises in the East. So, strap in and try to see the bigger picture beyond the daily price action.

• As an investor, be mentally prepared for a lot of volatility and take profits in the sunny times because you never know what FUD they will throw at us next…

cobie @CryptoCobain

Awesome can’t wait

NFTs Are Bouncing Back

• The NFT markets have seen some notable upside momentum in the last few days. Is it only a relief bounce or a significant trend change towards renewed bullishness? While we know that non-fungible tokens are trading quite differently from altcoins, there are certainly similar sentiment patterns such as euphoria-induced price spikes and subsequent cooldowns.

• If ETH and Bitcoin continue to range for a while, this could set up for a nice NFT season. However, if BTC and ETH start moving again, be prepared for NFTs to take a back seat again. In addition, the persistently high gas fees on Ethereum could slow down the NFT party before it really gets going…

🏝nathanhead.eth🏝 @NathanHeadPhoto

NFT BULL RUN BABY 🔥

Blockworks @Blockworks_

Google searches for NFTs on an all-time high. Locations with most searches: 1) China 2) Singapore 3) Hong Kong

• Let’s see what NFT thought leader Zeneca_33 has to say:

Zeneca_33 🍌 @Zeneca_33

Daily Floor Stats Update. Don't call it a bull run, don't call it a bull run, don't call it a bull run. I won't, and i'm not, going to call it a bull run -- but it's a *bullish* couple of days, no doubt. Look at that green! Love to see it. Might be short lived, and please be

Zeneca_33 🍌 @Zeneca_33

careful as always about "chasing" the hype and fomo and mania. It's awesome to see though, especially for those of us that have been diligently bagholding through the last few weeks. I suspect most of the true believers are largely unperturbed by the day to day vicissitudes of

Zeneca_33 🍌 @Zeneca_33

the market, as we are here for the duration. It's still nice to see the green regardless though. A *lot* of big winners. @GutterCatGang up 46%, @AnonymiceNFT up 44%, @creatureNFT up 48%, @RumbleKongs up 48%. Mutants continue being insane, up 20%. Over on the newer side of things.

Zeneca_33 🍌 @Zeneca_33

the gains are even more insane (as usual). @WoodiesNFT up 90%, @winterbearsnft up 67%, @CupcatNFT up 49%, @CryptoHootsNFT up 74%, @GalacticApesNFT up 47%, @SVSNFT up 56%, @doodles up 28%, @KaijuKingz genesis up 25%. It's a GOOD day in NFTs, let's enjoy it, and let's not forget

Zeneca_33 🍌 @Zeneca_33

how quickly things can turn bearish. Taking profits is always wise. Don't get greedy, or at least, don't get too greedy. I don't have too much more to add - hope you had a great weekend, and let's hope for a green tomorrow but prepare for a red one :)

A Reminder That Security Matters

• With many new people joining the crypto and NFT markets lately, awareness of proper risk and safety management is often still lacking. Unfortunately, stories of people making a lot of money only to lose it all thereafter, are getting more and more abundant.

flim.eth (💎,💎) @0xflim

1/25 My primary wallets were compromised last night -- you never want to wake up to something like this. Down bad. I ended up losing somewhere between 300 - 500 ETH altogether. Mostly my prized collection of NFTs were taken and sold. The perpetrator had access to 2 wallets which

flim.eth (💎,💎) @0xflim

2/25 I had both of them in metamask. I had these wallets on multiple machines some of which I leave on 24/7, I didn't use hardware wallets (I have used one in the past, got tired of it). ABSOLUTELY NOT GOOD security and I feel that more than ever now. Never sacrifice convenience