Welcome to this inaugural Hallows Eve Edition of My Newsletter.
The goal of this free newsletter is to provide you with timely updates about my latest digital asset content, industry insights or news and on-chain data analytics. I may provide bits and bobs about green tea because I like tea better than coffee. I hope you find this first edition useful and feel free to forward to people that you think might find it interesting.
- Cheers Corey
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💭✍🏼 Food For Thought 💭 ✍🏼
📖 Quote of the Week 📖:
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
📰 This Weeks Most Interesting Digital Asset Stories 📰:
- IMF Global Financial Stability Report October 2021
Chapter 2 on Digital Assets - "Increased trading of crypto assets in these economies could lead to destabilizing capital flows.[T]he advent of crypto assets has benefits but can accelerate cryptoization and circumvent exchange and capital control restrictions."
Said differently, Digital Assets offer a way for citizens to opt-out of currency debasement and capital controls. Governments may want to consider CBDCs to maintain control over the people.
2. Facebook is now going to be your overlord via the Metaverse
Announcing @Meta — the Facebook company’s new name. Meta is helping to build the metaverse, a place where we’ll play and connect in 3D. Welcome to the next chapter of social connection. pic.twitter.com/ywSJPLsCoD October 28, 2021
3. The preparation for ETH2 Is Going According to Plan (ETH prices should follow over the coming months).
4. When the person you know and love asks "why Bitcoin" point them to this fact checkable government debt reality. This is why the end game was/is always going to be "inflation" to debase the currency and "inflate" away the debt--hence Bitcoin and maybe a second home with a 100% LTV mortgage to pay it off in inflating dollars.
US national debt is ~$28,900 billion or ~$229k per taxpayer.
Even taxing all “billionaires” at 100% would only make a small dent in that number, so obviously the rest must come from the general public. This is basic math.
Spending is the real problem. https://t.co/1EwWyqdVsT
-- Elon Musk (@Elon Musk) October 27, 2021
📈 Call Out Digital Asset Charts of The Week 📉:
Based on the on-chain data, Bitcoin has more room to run regardless of the new futures ETF volatility
The MVRV Z-Score above 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).
ETH likewise has more room to run
The MVRV Z-Score for ETH above 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).
Holders of ETH are not selling
Net Unrealized Profit/Loss is the difference between Relative Unrealized Profit and Relative Unrealized Loss. This metric can also be calculated by subtracting realised cap from market cap, and dividing the result by the market cap.
ETH Returns By Month (The Data is your friend)
Green Tea Tidbits:
Matcha is powdered Japanese green tea where the green tea powder is mixed with hot water and therefore the leaf itself is included in the beverage.
Products I Personally Use and Support
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.