What a nan-tastic Friday morning for NANO at the LBX towers, welcome to the family. We wouldnât be living in a fruitful world if Apple didnât unveil a heart-tracking new watch alongside heart-stopping prices. Itâs even criticised by feminists for being too big for the average female hand. Just a tad worse than someone claiming the US law was written by someone on truck loads of acid. When cat phone? đœ
Regulators yield immense psychological power over the cryptosphere. Remember January 30th, when it was discovered that the US CFTC had subpoenaed Bitfinex and Tether earlier in December? Such inconspicuous news catalysed bitcoinâs price move from ÂŁ8.5k ($11.2k) to ÂŁ4.5k ($6k) in a week. However, in another world, Teslaâs stock barely moved after its biggest investor confirmed the US SEC was investigating it.
Thereâs still a touch of goodness for the crypto markets. Yesterday, Bloomberg leaked that Morgan Stanley was creating a Bitcoin swap, i.e. a derivative product that allows synthetic exposure to the original cryptoasset. This allows the investment bankâs customers to indirectly trade bitcoin, a welcomed solution. But, Anthony Pompliano notes, this approach better suits Morgan Stanleyâs interests than of the ones it serves.
The markets rejoiced on Wall Streetâs move, with the top 100 projects by market cap appreciating 6.7% on average and bitcoin managing a 2.5% rise. Interestingly, this relief rally, which pushed the total market cap above ÂŁ150 ($200) billion for the first time this week, came after the crypto-crash was declared worse than the Dot-Com. As usual, the question is what perils and opportunities is the weekend preparing us for?
Firstly, remember there are plenty of bitcoin and ether shorts still open that will try to protect their positions over the forthcoming days. Always be prudent and watch the volume direction. Secondly, yesterday we noted etherâs potential weekly bottom. It resulted in a nice 33% reversal but many are noting that it is battling resistance, thus keep a laser eye on the ÂŁ165 ($220) level. Lastly, move slowly, set-up your stop losses and stick to your poison of choice.
âȘ Ethereum Londonâs next meet-up takes place on Wednesday, September 19th, at Imperial College. Maybe you can try to persuade someone to sell you a DevCon4 ticket.
âȘ A former employer of the worldâs second largest Bitcoin mining hardware manufacturer is developing new ASIC miners for Ethereum that run 7 times faster than Bitmainâs.
âȘ BitGo, a blockchain security firm, has become the first âregulated, qualified custodian purpose-built for digital assetsâ. More companies are waiting for regulatory approval.
âȘ *Meltem Demirors, CSO of CoinShares, is blocking all podcasts. Her latest interview was conducted by *Anthony Pompliano. Find the audio and the full transcript here.
âȘ Chainalysisâ latest investigation studied the bitcoin dump on September 5th. It concluded that the selloff âcausedâ by a whale allegedly connected to either a Silk Road or Mt. Gox related wallet couldnât be confirmed. All details here.
âȘ Alex Lebed, a blockchain researcher, has found that Geminiâââthe Winklevoss twinsâ digital asset platformâââcan freeze any accounts of its new stablecoin. Not a surprise.
Igor and Grichka Bogdanoff are French celebrities best known for producing the science fiction television series Temps X. However, in crypto they are most known for controlling France with an iron but fair fist, have psychic powers to manipulate prices and in contact with aliens that get you ârektâ.
