Top VanKeck
4 min read

Top VanKeck

Cryptic ball: please bear in mind.

The weekend was fairly smooth and we got a historically great weekly close, but the whales missed the opportunity to pump on the Taproot news. To be fair, this change is akin to a halving - it takes time to be felt - and bitcoin just had an all-time high last week, right? Moreover, it's good that this upgrade wasn't a "sell the news" moment. But this Monday is feeling a bit dumpy - after BTC failed to conquer the important $66k level I wrote about last Friday. This means the next days may be scary, but remember this also shows the market is not that hot.

Meanwhile, flushes aside, are we going lower or not? Well, tomorrow we'll have a new BTC futures ETF listed, powered by VanEck. And the latest crypto ecosystem updates continue originating great headlines. Just to name a few: AMC Cinemas is now accepting crypto; popular VC Kevin O'Leary admits 10% of his portfolio is crypto; and Paradigm, an investment firm led by Coinbase's co-founder, has just announced a $2.5 billion crypto fund. Yes, this reminds me of when Telegram announced the world's largest ICO in 2017, which raised funds at the beginning of 2018, right at the beginning of crypto winter. But the analogy isn't perfect.

After all, Andressen Horowitz also launched their $2.2 billion fund earlier this year. And things don't look euphoric now. So I'll continue betting that the top will only happen when greed reaches unsustainable levels and high prices make it very attractive for both individuals and organisations to cash out their investments or even their treasuries. Also, this has been a year when prices rise whenever Crypto Twitter feels bearish, which is happening as you can see in today's Tweet tip. Now, it would be good to liquidate those bears in time to fulfil PlanB's prophecy (which is a powerful meme) that BTC will hit $98k by November and $135k in December!

Chart art: please use $btc.

Hashtags suck in Financial Twitter, but this chart doesn't.
Two accounts I was missing because they use #Bitcoin instead of $BTC. C'mon, guys!

Three things: please separate the hype.

Tweet tip: please be balanced.

Limitless is fully bearish now. And it's always good to follow those with whom you disagree.

Meme moment: please be calm.

Can you do it? Or will you sell the bottom of the dip?

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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.