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November 29, 2021
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November 29, 2021

The Bounce Is Here – What's Next?

Oliver Grah
Nov 29, 2021
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November 29, 2021
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Introduction

Well, the past few days have been quite the rollercoaster ride… Up, down (a lot), up, down, and up again – that’s the fastest way to describe the last days’ crypto price action.

What was eye-catching this weekend is the sheer amount of bearishness the recent correction has provoked in the crypto community. This time, however, we didn’t just see the usual trend followers and noobs come out of the woodwork to call for caution but also seasoned crypto “big brains”. Of course, optimistic voices are still prevalent as well. So, who is right?

Bear Market Fears Are Reaching Peak Levels

  • It hasn’t been all sunshine and roses on Crypto Twitter in the last few days. In fact, fear and toxicity have reached levels not seen in months.

Twitter avatar for @blknoiz06
Ansem🃏💎 @blknoiz06
if this is ct in chop we better not ever see another bear market bc ppl are losing it already lmao
12:33 AM ∙ Nov 28, 2021
375Likes12Retweets
  • The main point of contention was: Is the current correction only a precursor for the continuation of the bull market or do we find ourselves at the beginning of a prolonged bearish period? The opinions on that are split.

Twitter avatar for @blknoiz06
Ansem🃏💎 @blknoiz06
relief bounce imo, i dont think new highs this year on 97% of tickers
Twitter avatar for @BitPickles
Pickl三S @BitPickles
@blknoiz06 You tell
8:28 AM ∙ Nov 29, 2021
Twitter avatar for @ceterispar1bus
ceteris @ceterispar1bus
if we go sideways or down next couple months, touch 40k, maybe high 30's i wouldn't be shocked. wouldn't call that a bear market though. also, when light tells you ppl have de-risked, he's not trying to "fud to buy your bags lower", they genuinely have. it's useful info.
11:56 AM ∙ Nov 29, 2021
41Likes1Retweet
Twitter avatar for @ceterispar1bus
ceteris @ceterispar1bus
i don't believe we can't have long bears anymore. if equities can (08-09) then we definitely can, and will. to think otherwise is silly imo. however, i do not think crypto will have a long idiosyncratic bear market without a macro risk-off one. so, that's what you're betting on.
11:53 AM ∙ Nov 29, 2021
72Likes2Retweets
Twitter avatar for @zhusu
Zhu Su 🔺 @zhusu
He is also the only guy (maybe also @GiganticRebirth ) sounding any kind of alarm over tremendous froth in certain sectors Spot longs w money you can afford to lose are fine; do not put yourself in a position to get wiped out as things continue, make sure you stay in your seat
8:25 AM ∙ Nov 29, 2021
307Likes3Retweets
Twitter avatar for @zhusu
Zhu Su 🔺 @zhusu
90% of my top signal list that I wrote down in q1 2019 while it was still fresh in my memory are now hit No interest in calling tops for clout or having you sell bottoms for psyops, enough wealth for many lifetimes already Make sure you own things you believe in and wagmi
8:25 AM ∙ Nov 29, 2021
598Likes25Retweets
Twitter avatar for @TruckPump
Pump Truck @TruckPump
So complacency shoulder at 62k ETH ATH then giga puke? Not sure if im being irrationally bearish but I dont like how the market looks
1:48 PM ∙ Nov 29, 2021
Twitter avatar for @mewn21
mewny @mewn21
400% of my top signals were hit last year and we still went up i cant read anything anymore. i just think if u hold <good coins> ur ok. crypto isnt going anywhere. its not in "might be a fad" territory like the bera years
10:58 AM ∙ Nov 29, 2021
287Likes19Retweets
Twitter avatar for @lawmaster
Larry Cermak @lawmaster
@mewn21 The most bullish thing is that there are now relatively uncorrelated crypto subsectors that have had their own downturns and mini bull markets. Possible that would all go to shit if BTC tanks for 1y+ but very different from 2017
11:11 AM ∙ Nov 29, 2021
120Likes13Retweets
  • One thing is clear: If you’re not having a close eye on both fundamentals and technicals in this market, and you’re not able to adapt quickly to new market conditions, there is quite a bit of pain in store...

Twitter avatar for @blknoiz06
Ansem🃏💎 @blknoiz06
checking in on the marines
Image
10:48 AM ∙ Nov 29, 2021
201Likes6Retweets
  • When reading through the opinions of others, it’s important to always keep the following in mind:

Twitter avatar for @safetyth1rd
𝕯𝖆𝖓𝖌𝖊𝖗 @safetyth1rd
even when others are right, they are often on different time frames, stack size, risk tolerance, than you useful to listen to others(esp those with similar tfs) but develop your own system.
2:32 AM ∙ Nov 28, 2021
39Likes3Retweets

Market Watch

  • While last Friday’s drop-off certainly has been intense, it’s important to put things into perspective and recognize that most projects are still just a few percent below their highs. Judge for yourself if this means increased risk for further downside or a downplaying of the current correction.

Twitter avatar for @rektcapital
Rekt Capital @rektcapital
#BTC has retraced -23% since the highs which is still less than the -25% retrace in September $BTC #Crypto #Bitcoin
1:12 PM ∙ Nov 29, 2021
47Likes5Retweets
  • The bounce today had to be expected since nothing moves in a straight line. The big question, however, is, what comes next? Have we seen the bottom and can go back to full-on bull mode or are we only seeing a “relief rally" today? Well, as seen above, opinions and data are divided on that. Your own risk tolerance and conviction will have to determine how you want to be positioned in this market going forward.

Twitter avatar for @ByzGeneral
Byzantine General @ByzGeneral
Gm. So CT got bullish at resistance and we can't sustain neutral funding for even one day? Don't like that too much tbh 🤔 $BTC
Image
12:50 PM ∙ Nov 29, 2021
92Likes1Retweet
  • While MicroStrategy buying Bitcoin certainly creates welcome buy-pressure, at this point, it’s certainly not big news anymore.

Twitter avatar for @BitcoinMagazine
Bitcoin Magazine @BitcoinMagazine
BREAKING — MicroStrategy buys additional 7,002 #Bitcoin for ~$414.4 million
1:04 PM ∙ Nov 29, 2021
2,767Likes515Retweets
  • Apart from the prevalent risk for more downside, there are, of course, reasons to be optimistic. Many on-chain metrics and data science models are still looking fairly promising. It’s important though to take such models and fractals with a grain of salt.

Twitter avatar for @_Checkmatey_
_Checkmate.btc 🔑⚡🦬🌋checkonchain.com🌋 @_Checkmatey_
I'm not sure what #Bitcoin bears are going to do with this information, but a clean retest of the STH Realised Price is about as good as it gets for bull market support. If this bounce grows legs, it starts to look quite a lot like 2017. Psychology on-chain. It works well.
Image
2:57 AM ∙ Nov 29, 2021
1,188Likes174Retweets
Twitter avatar for @TechDev_52
TechDev @TechDev_52
There have been 6 major #BTC impulses since 2W RVI was charted from 2011. It's caught the top of every one. Even the rounded one in April. Every full cycle has had 2 peaks. This cycle has had 1. Probability-Based Conclusion: This cycle's 2nd major impulse has not yet topped.
Image
5:47 PM ∙ Nov 28, 2021
4,879Likes903Retweets

StarkNet Alpha Has Launched

  • In the wake of the growing excitement for Rollup-scaling solutions in general and ZK-Rollups in particular, StarkWare has launched its highly anticipated StarkNet Alpha today! This release marks a critical step towards fully-fledged ZK-Rollups which pave the way for a highly scalable Ethereum ecosystem. Let’s see how the rollout is being received and especially which projects decide to deploy on StarkNet in the weeks to come.

Twitter avatar for @epolynya
polynya @epolynya
StarkNet is the most advanced smart contract platform ever committed to prod. No, rather, it will be. This is Alpha for a reason: at the very bleeding edge of blockchain tech. There'll be missing features, centralized training wheels, bugs etc. But we're making a giant leap.
Twitter avatar for @StarkWareLtd
StarkWare @StarkWareLtd
StarkNet Alpha✨ First step on Mainnet ✅ https://t.co/wMKS3QrfqQ https://t.co/s0mr3Tr72R
1:18 PM ∙ Nov 29, 2021
139Likes15Retweets
Twitter avatar for @StarkWareLtd
StarkWare @StarkWareLtd
#StarkNet Alpha on Mainnet means: Developers can deploy their contracts on StarkNet. Users can send txs to these contracts. Each StarkNet block is being proved and verified on-chain. Apps gain unlimited scaling and maintain L1 security.
1:07 PM ∙ Nov 29, 2021
18Likes2Retweets
Twitter avatar for @deversifi
DeversiFi 🥷 @deversifi
Huge Congratulations to @StarkWareLtd for launching #Starknet today! #DeversiFi was the first project to launch on #Starkware and now we’re going a stage further 👀 We’re building a portal to #StarkNet, @StarkWareLtd first permissionless decentralised zkRollup... (1/3)
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1:31 PM ∙ Nov 29, 2021
71Likes11Retweets

Uniswap (Probably) Coming to Polygon

  • With its fast and cheap sidechain implementation, Polygon is not just a leading Ethereum scaling solution but also a hot contender in the ZK-Rollup race. It’s exciting to see the “DEX king” Uniswap (likely) expand to Polygon soon. For yield farmers, this means safe and potentially attractive pastures coming up soon. However first, some governance hurdles need to be overcome.

Twitter avatar for @MihailoBjelic
Mihailo Bjelic @MihailoBjelic
We initiated Phase 2 (out of 3) of the governance process - Consensus Check: gov.uniswap.org/t/consensus-ch…! We also edited the proposal to specify the financial incentives we are willing to offer: - Up to $15M for liquidity mining - Up to $5M for special purpose DAO Let's do this! 🦄
Twitter avatar for @MihailoBjelic
Mihailo Bjelic @MihailoBjelic
Dear @Uniswap community, We submitted a proposal to deploy Uniswap V3 to @0xPolygon. 😊 We firmly believe this is the right moment for this deployment to happen, for reasons explained in the proposal. Looking forward to your questions and feedback. 🙏 https://t.co/oz84LVdUWj
2:41 AM ∙ Nov 29, 2021
284Likes72Retweets
Twitter avatar for @scott_lew_is
𝚂𝚌𝚘𝚝𝚝 𝙻Ξ𝚠𝚒𝚜 🌾 @scott_lew_is
uniswap should definitely deploy to polygon. not a close call. if uniswap governance can’t get this right, id call into question the desirability of uniswap style governance as a concept.
2:05 PM ∙ Nov 29, 2021
64Likes6Retweets
Twitter avatar for @cryptoMaxi420
Crypto Maxi @cryptoMaxi420
Daily reminder that #Matic isn't just a single POS chain and #Polygon is a full scaling solution suite for #Ethereum Polygon Hermez - zkRollup Polygon Nightfal - Optimistic & zkp rollup Polygon Avail - Data availability network for Volitions Polygon Miden - zkRollup Polygon SDK
8:30 AM ∙ Nov 29, 2021
13Likes1Retweet

Is Crypto Just a Big Scam?

  • It’s clear that despite the tireless innovation and building by thousands of talented developers and teams, there are still many misconceptions and prejudices about crypto in the mainstream. While it’s certainly true that crypto hasn’t proven its full potential so far and many “killer applications” are yet to reach a critical adoption threshold, there are countless use cases which – already today – change the lives of hundreds of thousands if not millions of people.

Twitter avatar for @mcuban
Mark Cuban @mcuban
Sure. I call my bank for a loan. I want to borrow $5k against the $10k I have in a multi year CD. Takes some paperwork. A phone call or two. A few days. I go to AAVE.com where I have 10k in ETH. I want to borrow $5k. Takes me about 2 minutes and it’s done
Twitter avatar for @Agnost_
Agnost @Agnost_
@mcuban @smdiehl Then please show us the business case for decentralized applications that isn't tied to gambling or illegal activities. If you have a legitimate use case where a dApp would be the best solution out of all the alternatives, please lay it out for us.
4:59 PM ∙ Nov 28, 2021
17,801Likes2,789Retweets

Jack Dorsey Stepping Down as CEO of Twitter

  • There have been rumors for quite some time and today we got the news that Jack Dorsey is stepping down from his post as Twitter CEO. What impact will this have on Twitter’s Web 3 ambitions now that “Bitcoin-maximalist” Jack Dorsey is not in charge anymore? We’ll have to wait and see.

Twitter avatar for @mayazi
Maya Zehavi @mayazi
end of an era...
Twitter avatar for @zerohedge
zerohedge @zerohedge
JACK DORSEY STEPPING DOWN AS TWITTER CEO: CNBC
2:24 PM ∙ Nov 29, 2021
6Likes1Retweet
Twitter avatar for @ceterispar1bus
ceteris @ceterispar1bus
twitter should simply create a dao and airdrop us all tokens instead of hiring a new ceo
2:34 PM ∙ Nov 29, 2021
13Likes3Retweets
Twitter avatar for @0xSisyphus
Sisyphus @0xSisyphus
probably see some twitter/eth integrations now. very ++ $twtr
Twitter avatar for @zerohedge
zerohedge @zerohedge
JACK DORSEY STEPPING DOWN AS TWITTER CEO: CNBC
2:29 PM ∙ Nov 29, 2021
64Likes4Retweets
Twitter avatar for @jacksondame
Dame.eth @jacksondame
this could be the biggest inflection point in Twitter’s history — Jack, a bitcoin maxi, steps down from the company he started that is rapidly becoming the go-to place for Web3
2:27 PM ∙ Nov 29, 2021
17Likes4Retweets
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