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November 5, 2021
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EllioTrades Daily Roundups

November 5, 2021

A Volatility Squeeze Is Imminent

Oliver Grah
Nov 5, 2021
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November 5, 2021
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Introduction

Another day of boring action of BTC and ETH lies behind us but signs are mounting that it’s time to pay attention. All major price moves – in either direction – have happened after a prolonged time of consolidation as we have seen in the last three weeks.

Twitter avatar for @inmortalcrypto
Inmortal @inmortalcrypto
Majority is waiting for a breakout/breakdown? Perfect, then just consolidate between 60-64k for weeks. #Bitcoin
4:16 PM ∙ Nov 4, 2021
1,007Likes41Retweets

Is it time to go to the moon and kick off the parabolic end-of-year rally? Or will the doubters be right and get another leverage shakeout followed by more corrective action? Well, let’s look at what indications we have.

Twitter avatar for @WClementeIII
Will Clemente @WClementeIII
BTC volatility squeeze incoming on the 1D. "Time to pay attention"
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1:14 PM ∙ Nov 5, 2021
1,057Likes110Retweets

Market Watch

  • Looking at the charts, we can see that Bitcoin has quietly retested support in the last days and weeks, giving altcoins some room to run in the meanwhile. It’s likely that this quiet time is ending soon though, with a major resolution to either direction insight.

Twitter avatar for @rektcapital
Rekt Capital @rektcapital
Though #BTC has been moving sideways for weeks now... It has continued to successfully retest a major area of previous resistance (red) as new support (green) $BTC #Crypto #Bitcoin
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1:14 PM ∙ Nov 5, 2021
51Likes8Retweets
  • Meanwhile, BTC and ETH supply on exchanges is dwindling, certainly promising for the mid-term outlook. Short-term price action, however, is to a large extent determined by factors like sentiment and leverage (especially the latter being of slight but not huge concern right now).

Twitter avatar for @Blockworks_
Blockworks @Blockworks_
Bitcoin balance on exchanges hit a 3 year low Via @glassnodealerts
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12:50 AM ∙ Nov 5, 2021
1,285Likes259Retweets
  • NVT, an important on-chain metric, is also painting a positive picture for Bitcoin from a macro view.

Twitter avatar for @glassnode
glassnode @glassnode
#Bitcoin transaction value settlement is rising substantially relative to the Market Cap. This has driven NVT Signal metric lower, indicating that even at $61.8k, $BTC is historically undervalued relative to utilisation as a value settlement layer Chart: glassno.de/3qhzBRU
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10:04 AM ∙ Nov 5, 2021
467Likes88Retweets

Some Tips to Up Your Crypto Game

  • Here is some great advice on how to crush it in crypto – besides being a “bull market genius” like everyone right now:

Twitter avatar for @iamDCinvestor
DCinvΞstor @iamDCinvestor
while the space is still confusing, and there are as many pitfalls as ever, it's easy to get engaged just spend time talking to others and learning in public forums and the best time to do it will be once the more frenetic, bullish periods run their course
Twitter avatar for @mdudas
Meta DAOdas @mdudas
you can become a crypto “native” in under a year get started now by joining the discord of a couple of projects you’re interested in and follow the flow from there
1:14 PM ∙ Nov 5, 2021
34Likes4Retweets
Twitter avatar for @iamDCinvestor
DCinvΞstor @iamDCinvestor
more than anything else, being deep in crypto has taught me: - all valuations are a meme (some more durable) - the diff bwn a marketable product vs true product-market fit - everything takes either much less or much more time than you thought - the cyclical nature of human greed
1:59 PM ∙ Nov 5, 2021
61Likes7Retweets

Politicans Getting Paid in Bitcoin – a New Hot Trend

  • While BTC’s price hasn’t been very exciting lately, there are still reasons to pay attention to what is going on in Bitcoin land. With Bitcoin still being the largest cryptocurrency out there and mostly leading the markets, it’s in every crypto holder’s interest that BTC is doing well.

  • On that note, we have seen some very positive developments when it comes to Bitcoin’s public perception and its role as a primary asset in this digital age. Holding Bitcoin is becoming more and more mainstream, and politicians, companies and celebrities endorsing Bitcoin (and/or crypto) is only accelerating this trend.

Twitter avatar for @ericadamsfornyc
Eric Adams @ericadamsfornyc
@FrancisSuarez @Sarasti In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!
5:26 PM ∙ Nov 4, 2021
18,790Likes3,856Retweets
Twitter avatar for @BitcoinMagazine
Bitcoin Magazine @BitcoinMagazine
City of Jackson Mayor: I will instantly convert my next paycheck to #Bitcoin 🙌
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12:28 AM ∙ Nov 5, 2021
4,782Likes568Retweets
Twitter avatar for @NeilJacobs
Neil Jacobs @NeilJacobs
BREAKING: Tampa Bay Mayor Jane Castor has announced she will be accepting her pay in bitcoin. She now joins fellow Florida mayor, Miami Mayor Francis Suarez. #bitcoin
2:20 PM ∙ Nov 5, 2021
325Likes55Retweets
Twitter avatar for @BTC_Archive
Bitcoin Archive 🗄🚀🌔 @BTC_Archive
$440b asset manager, Jefferies Group, sold gold to buy more #Bitcoin 🥂
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5:23 PM ∙ Nov 4, 2021
5,921Likes997Retweets
  • Meanwhile, we get one story after the other illustrating that today’s financial system is far from in a healthy state…

Twitter avatar for @DecentralStn
Decentral Station @DecentralStn
Buy at premium and sell below floor. Zillow guys look like Opensea traders.
Twitter avatar for @BillyMcFarlend
Meta McFarlend 🌮 @BillyMcFarlend
I sold my house to Zillow last week for $550,000 (25%) above market and they just called to ask if I wanted to buy it back. I offered $350,000 and they accepted on the spot. Can’t make this shit up. $Z
9:17 AM ∙ Nov 5, 2021

Polkadot Crowdloans Have Kicked off – Should You Participate?

  • Today a major milestone on Polkadot’s roadmap has been reached: the opening of the crowdloans for the first-ever parachain auctions. Right now, Acala seems to be firmly in front of Moonbeam, likely securing the first parachain slot!

  • While this is an exciting moment for every Polkadot fan, we have to ask ourselves: Should we jump into these first crowdloan opportunities that have opened up today? While it’s up to everyone to make his or her own decision, here are a few facts that you should consider before deploying all of your DOT right away:

    • With everyone rushing into these highly anticipated (and marketed) Polkadot crowdloans, the chance of getting a “fair share” of tokens is declining. In contrast to participating in one of the first Kusama crowdloans like Moonriver, you are certainly not “early” when participating in one of the first “hot” Polkadot crowdloans.

    Twitter avatar for @DecentralStn
    Decentral Station @DecentralStn
    Another 200k in 5 mins (200K $DOT = 1 MM USD). At this rate, it will reach 10 MM $DOT or 500 MM for 17% of $ACA which means Acala will have FDV of 3 Billion at launch🤯
    9:20 AM ∙ Nov 5, 2021
    • Also, be aware that by participating in a crowdloan, you lock in your DOT tokens for almost two years.

    Twitter avatar for @danreecer_
    Dan Reecer 🅰️🕊⚪️ @danreecer_
    @solidfluidity DOT is locked for the full duration of the parachain's first slot on Polkadot, 2 years. The DOT will be automatically returned after the 2 years. When the team wins and launches their network, they will distribute their network tokens to you in a certain ratio to the # of DOT.
    10:05 PM ∙ Oct 16, 2021
    • While you get your DOT back after approximately two years, you still have to consider how much you want to bet on Polkadot being a dominant blockchain in two years. While the chances for that are high, there are scenarios where either a bear market or other L1s’ success spoil the party…

    • You can also participate through a “liquid” crowdloan mechanism, where you don’t have to wait two years to make use of your DOT, but there are risks involved with that: Firstly, you have to trust the project that issues these liquid DOT tokens (+ their smart contracts), and secondly, these representative tokens could trade at a significant discount to the DOT price if enough people start selling (as we have seen with a couple of “liquid staked ETH” tokens).

    Twitter avatar for @AcalaNetwork
    Acala - DeFi Hub of Polkadot @AcalaNetwork
    lcDOT enables Acala Crowdloan participants to receive a liquid lcDOT token 1:1 for all DOT locked in the crowdloan. This way, contributors stay fully liquid over the 2 year period, and can earn yield in a variety of ways if they choose.
    5:56 PM ∙ Oct 17, 2021
    52Likes2Retweets
    • In addition, it’s also important to have an eye on the tokenomics of the projects you want to invest in. There is for example a significant difference between Moonriver’s crowdloan on Kusama (where the majority of tokens got distributed to the community) and many of the Polkadot crowdloans (which have larger private sale and team allocations). On the flip side, Polkadot projects might attract much more capital and reach higher market caps than Kusama projects in the end… Definitely do some research before jumping in!

Twitter avatar for @0xinvestor
0xinvestor @0xinvestor
@Gojo_Crypto with the tokenomics like this, looks like $GLMR will attract institutions a lot, it’s proven by $MOVR that the chain works super well, then going to Moonbeam is such an easy decision. However, will it be beneficial to community as Moonriver does? I’m reflecting…
1:03 AM ∙ Oct 16, 2021
12Likes5Retweets
Twitter avatar for @MoeCiejek
Moe Ciejek @MoeCiejek
Unpopular prediction for projects on dotsama- looking at tokenomics and early rumours - moonriver better than moonbeam and acala will be better than karura for ROI
9:39 AM ∙ Oct 17, 2021
  • To summarize: Should you participate in either the Acala or Moonbeam crowdloan? If your goal is to make a quick flip or buy an early Polkadot “gem”, the answer is clearly no. If you want to make a long-term bet on some of the most exciting new crypto projects and are aware of the conditions, then go ahead!

Immutable X Is Gaining Steam

  • After Immutable had been building quietly for months and years, the adoption of its gaming- and NFT-focused layer 2 network Immutable X is accelerating. Keep your eyes wide open for anything happening in the Immutable X ecosystem in the coming weeks and months, as there are exciting things on the horizon!

  • Should you buy IMX right now after its listing? With a fully diluted market cap of over $11 billion and private sale unlocks ahead, maybe it’s better to wait for better entries or look at other opportunities in the Immutable X ecosystem for now.

Twitter avatar for @Immutable
Immutable | HIRING! 👇 @Immutable
We’re thrilled to partner with one of the most hotly anticipated blockchain games @PlayEmberSword in their migration process to @Immutable X ⚔️48K NFTs will be 100% carbon neutral, minted & traded gas-free ⚔️All in-game items will be secured by Ethereum Powered by @StarkWareLtd
Image
12:00 PM ∙ Nov 5, 2021
345Likes61Retweets

Don’t Overlook the Solana Gaming Ecosystem

  • Besides Polygon, Immutable X, and BSC, Solana has probably the fastest growing gaming ecosystem in crypto right now. Star Atlas and Aurory are just two prominent examples. With millions of dollars and thousands of developers flowing into the Solana ecosystem on a weekly basis, it’s likely that gaming projects on Solana will continue to attract a lot of attention in the future.

Twitter avatar for @Blockworks_
Blockworks @Blockworks_
FTX, Solana Ventures, and Lightspeed create a $100 million Web 3 gaming fund. The global gaming market is expected to be worth $314.4 billion by 2026 Latest by @jacqmelinek
blockworks.coFTX, Solana Ventures and Lightspeed Create $100M Web3 Gaming Investment - BlockworksThe initiative will help advance and develop new decentralized models for gaming as well as the tools developers need to build, Solana Ventures told Blockworks.
2:33 PM ∙ Nov 5, 2021
9Likes2Retweets
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November 5, 2021
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3 Comments
Samuel Benli
Nov 6, 2021Liked by Oliver Grah

Thank uuuu

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ULTRA
Nov 6, 2021Liked by Oliver Grah

Thank you sir! Hopefully this crazy part of the Inf Bill doesn't pass

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