ETH bottomed girls 👯‍

Market Report: 14th Sept. 2018 — Subscribe to our newsletter.

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CRYPTO NOTE

The daily view from our desk

What a nan-tastic Friday morning for NANO at the LBX towers, welcome to the family. We wouldn’t be living in a fruitful world if Apple didn’t unveil a heart-tracking new watch alongside heart-stopping prices. It’s 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? 😽

BLUE PILL, GREY PILL

Summarising Morgan’s news

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 bitcoin’s price move from £8.5k ($11.2k) to £4.5k ($6k) in a week. However, in another world, Tesla’s stock barely moved after its biggest investor confirmed the US SEC was investigating it.

There’s 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 bank’s customers to indirectly trade bitcoin, a welcomed solution. But, Anthony Pompliano notes, this approach better suits Morgan Stanley’s interests than of the ones it serves.

ETH BOTTOMED GIRLS

You make the cryptic world go down

The markets rejoiced on Wall Street’s 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 £150 ($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 ether’s 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 £165 ($220) level. Lastly, move slowly, set-up your stop losses and stick to your poison of choice.

WHAT TO LOOK OUT FOR

Filter the noise and stay ahead of the pack

▪ Ethereum London’s 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.

▪ A former employer of the world’s second largest Bitcoin mining hardware manufacturer is developing new ASIC miners for Ethereum that run 7 times faster than Bitmain’s.

▪ BitGo, a blockchain security firm, has become the first “regulated, qualified custodian purpose-built for digital assets”. More companies are waiting for regulatory approval.

WHAT TO READ TODAY

An insight a day could give you more profits to play

▪ *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.

▪ Chainalysis’ latest investigation studied the bitcoin dump on September 5th. It concluded that the selloff ‘caused’ by a whale allegedly connected to either a Silk Road or Mt. Gox related wallet couldn’t be confirmed. All details here.

▪ Alex Lebed, a blockchain researcher, has found that Gemini — the Winklevoss twins’ digital asset platform — can freeze any accounts of its new stablecoin. Not a surprise.

FOUNDATIONAL TRIVIA

Because the building blocks of crypto needn’t be irrelevant

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 ‘rekt’.