Pow wow
3 min read

Pow wow

Cryptic ball: Jerome is back.

This has been a fairly smooth weekend, with bitcoin and most alts either trading sideways, constrained by the past month's range, or facing resistances that halted their spectacular, 25% bounces since Thursday's lows. The most notable exception is AVAX, which just hit a new ATH yesterday, with Elrond's EGLD and Cosmos' ATOM following suit. Meanwhile, the S&P 500 also hit a new all-time high today, on news that President Biden had nominated Jerome Powell for a second term.

The choice to maintain the current chair of the US Fed was also seen as bullish by bitcoin bulls, who pumped the orange coin up to 5% in less than 20 minutes after the announcement. This renewed optimism may turn into the strength we needed to reignite the animal spirits. Otherwise, this last week and a half of November may prove to be complicated. Overall, with the current activity on alts, I feel like the show is far from over - even if the final pump may take a while, especially with some downside volatility associated with Thanksgiving ahead of us.

Meanwhile, I've also heard some interesting feedback from our readers, that I'm aggregating into two groups. One set of views argued retail investors started arriving this summer and not only they haven't sold yet, but they also bought the dip with new funds. On the other hand, another group believes the inflow of retail investors isn't sufficient - at least yet. And as these are overly focused on meme coins, it is possible we will experience a very different top than the ones we faced before - at least in what bitcoin is concerned. Note both groups still believe we're in a bull market! I'll reflect on this and expand my views over the next few days!

Chart art: fear is back.

Let's see how long we remain in this state of mind.

Three things: Thanksgiving is back.

Tweet tip: ETH will be back.

Are we in need of a mini bear market to crush the rise of Ethereum killers?

Meme moment: the 80s are back.

This is the way to achieving unicorn status.

B21 Card: two new more countries.

The card that keeps on growing. Learn more at b21.io/card

Get started: download the B21 Crypto app!

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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.