A weekly newsletter on actionable digital asset market insights and practical observations with a smidgen of green tea insights 🍵
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📖 Quote of the Week 📖:
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.” - Albert Einstein
📰 This Weeks Most Interesting Digital Asset News 📰:
NFTs To Be Created In Adobe Photoshop - Link
ETH Burning Continues As The Tokens Economics Is Already Deflationary (Demand > Supply) - Link
PolkaDot Is the Project Receiving the Most Inflow From Institutional Investors - Link
Miami Mayor Francis Suarez to take his whole paycheck in Bitcoin (probably nothing) - Link
You should listen to the Hut 8 Earnings Call on November 11, 2021 they are one of the top BTC Miners in North America (if you do not own BTC then this is a stock to study up on fast - Link
Democracts Pass the Infrastructure Bill with Draconian Crypto Taxes taking effect in 2024 (I will write something on this in a future posting) - Link
📈 Call Out Digital Asset Charts of The Week 📉:
On Chain Data Still Says ETH Looks Good
For the image above, the MVRV Z-Score is used to assess when Ethereum is over/undervalued relative to its "fair value". When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone). Technically, MVRV Z-Score is defined as the ratio between the difference of market cap and realized cap, and the standard deviation of market cap, i.e. (market cap – realized cap) / std(market cap). ETH is still in a solid buy zone based on this on-chain data point.
Bitcoin Is Also Still In A Good Spot and Looks Ready to Break Out Too
The MVRV Z-Score is used to assess when Bitcoin is over/undervalued relative to its "fair value". When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone). Technically, MVRV Z-Score is defined as the ratio between the difference of market cap and realized cap, and the standard deviation of market cap, i.e. (market cap – realized cap) / std(market cap). Bitcoin still looks good but on a relative basis ETH looks like it has more room to run to the upside and for a longer period of time. Remember ETH2.0 does not launch until near Q2 2022--I think we have a lot of runway until then.
Green Tea Tidbits:
It is widely accepted that green tea was first steeped in 2737 BC during the reign of Emperor Shennong – a mythical sage and a popular figure in the mythology of Chinese agriculture and medicine.
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This Newsletter does not provide, and no portion of this content purports to be, individualized or specific investment advice and I do not provide investment advice. All information provided herein is general in nature and is made without regard to individual levels of sophistication or investment experience, investment preferences, objectives or risk parameters and without regard to the suitability of the content for individuals or entities who may access it.
No information provided herein, should be construed as an offer to sell, or a solicitation of an offer to buy any security or investment vehicle, nor should it be construed as tailored or specific to you, or any reader or consumer thereof. You understand and agree that the content does not constitute specific recommendations of any particular investment, security, portfolio, transaction or strategy, nor does it recommend any specific course of action is suitable for any specific person or entity or group of persons or entities.
The content herein is based upon information from sources believed to be reliable and I am not responsible for errors, inaccuracies or omissions of information; nor is it responsible for the accuracy or authenticity of the information upon which I rely.