3 min read


Cryptic ball: just an epic month.

This has been a fairly smooth weekend and monthly close, with bitcoin, ether, and most alts consolidating nicely near their all-time highs. Naturally, some of the wild memes that have been pumping had a volatile ride, with SQUID, a hyped project around the popular Netflix show, being rug pulled and crashing 99.99%. But that's normal if you're playing such games. Now, what's next for Moonvember?

To begin, it's not only price consolidation near the top, but also whales clearly accumulating bitcoin and alts, as you can see below. The pattern is very similar to what happened last November, as you can see below, so it's increasingly looking like we'll have ammo for at least some more bullish months once the engines are ignited. I also agree with Ryan Selis, who reinforces that the cycle won't run out of steam until the leading blockchain falls after a typical blow-off top.

If you also look at the massive number of quality announcements that took place this Uptober it's also clear the next months will be wild, even if these indeed resemble late-stage announcements, ready to capitalise on the low prices of an eventual crypto winter in the years ahead. Lastly, while you know I'm spooked with the potential of a global financial crisis happening sooner rather than later, I also believe markets can stay irrational longer than our fears can remain valid. And Raoul Paul recently reminded me that all these bubbles in our economy have also been caused by a whole new generation entering the market - especially in the US.

These changed the rules of the game. And while they are not immune from learning from 80% drawdowns - which typically happen in crypto - it's likely these new investors will continue fuelling the exponential or logistic growth associated with new digital economies. Now, let's go and bid $60k because we're going up.

Visual block: just accumulation.

Credit goes to Ecoinometrics for the excellent analysis. Just follow the whales.

Three things: just 13 years.

Tweet tip: just a lot of experience.

Ryan nails more predictions than any other crypto OG.

Meme moment: just a children's game.

Play stupid games, win stupid prizes.

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of guidance in the report will lead to any particular outcome or result.