👉 Bitcoin's Final Test Before All-Time Highs

Monday, November 2nd, 2020
Your Weekly Update On All Things Crypto
In Partnership With NAMNAR Capital
OVERVIEW
MACRO NEWS
Trump or Biden... Either Way, Bitcoin Wins
On November 3rd, the world will pause to watch the results of one of the most contentious US elections in history. With so much political polarization in the United States, we wanted to take a step back and analyze what either outcome would mean for Bitcoin and the macro-economic landscape.

If Biden Wins:
Economists believe that a Biden win would be consistent with increased fiscal support, and higher GDP growth (real and nominal), despite an anticipated increase in taxes for corporations and the rich. It is likely that the number one priority of a Democratic administration would be an increase in fiscal support (aka. money printing).

If Trump Wins:
With Biden now leading by a health double-digit margin in the National polls, it seems unlikely that a Trump win would be complemented by a Republican House and Senate, therefore much of Trump's domestic policy will likely be hamstrung by other branches of government. Although markedly smaller than the Democratic plan, we should still expect a healthy dose of stimulus from the incumbent president to begin his second term. In this case, focus should be placed on foreign policy and the rising US-China tensions. Without the need for re-election, Trump would be able to take a more confrontational approach to his relationship with Beijing.

What this means for Bitcoin:
Regardless of the outcome of the election, we can be sure that the election will be closely followed by the next round of helicopter money for the American people. This will weaken the US Dollar and likely buoy the price of Bitcoin. The growing threat of negative interest rates will also force trillions of dollars in value to seek new refuge in assets that do not penalize people from holding them. These factors alongside a research study published recently by Greyscale that highlights growing institutional demand for Bitcoin all culminate in an unequivocally bullish outlook for Bitcoin.
TOP STORIES
PayPal Does Crypto
After months of evaluation, the United States Attorney General's Cyber-Digital Task Force released their 83-page report entitled the Cryptocurrency Enforcement Framework. In the past few months, we have witnessed a ratcheting-up of enforcement activity in the cryptocurrency space. Most-notably the CFTC prosecuting the founders of BitMEX on Anti-Money Laundering charges.  
The establishing of at least some sort of regulatory framework seems to be a sigh of relief to many CEOs in the space who more than anything needed clarity as to how their businesses would be viewed by the US regulatory bodies. Although the overarching message remains law enforcement resources and actions will continue to trend upwards in the cryptocurrency space, the DoJ was very clear as to 'how' the framework would be enforced. 

Liat Shetret, Senior Crypto Policy Advisor at Elliptic, laid out the five prongs of the new law enforcement strategy: 
  1. Coordinating parallel enforcement actions and interagency partnerships
  2. Promoting law enforcement awareness and expertise, 
  3. Cooperation between federal and state authorities
  4. Increased international cooperation, and 
  5. Private-sector education and outreach.

Andrew Hinkes of Athena Blockchain called the report a message “to persuadable participants in the cryptocurrency marketplace and industry” to remind them that “they should stay on the right side of the regulatory line because the federal government is committing substantial resources to combat criminal activity associated with, facilitated by, or targeted against cryptocurrencies.”
CRYPTO UPDATES
Bitcoin Gathers Momentum, Briefly Breaks Above $14,000
Bitcoin continued it's quick ascent last week as it reached $14,100 before being quickly being sucked below it's previous relative high of $13,880 (represented by upper dotted-blue line) in June 26th 2019. The is a critical break as $14,000 marks the last major resistance level before all time highs at $20K. Momentum looks to be gathering for Bitcoin, however we still cannot count out the possibility of one more rejection of this major resistance and a slight consolidation before finally making another break for all time highs in Q1 of 2021. If profits are taken in Bitcoin, we may see some of that capital filter into the alt-coin market spurring another alt-coin run.

Side Note: The SMS indicator bar at the bottom of the chart is a leading indicator that combines three commonly used indicators into a simple, easy-to-read indicator. The SMS indicator was popularized by Nicholas Mertin, from Data Dash, and combines the Stochastic RSI, MACD, and the Squeeze Momentum indicator. Green bars represent buy signals while red bars represent sell signals.
Alt-Coin Dominance
After the absolute beating alt-coins have been taking relative to Bitcoin over the last two months, the time may have finally come for the alt-coins to fight back. After a free fall for the past few weeks, alt-coins look to have found some support at roughly 36% (meaning Bitcoin represents 64% of the crypto market and alt-coins represent 36%). Along with a healthy bounce off of support, we also managed to break back into the descending channel established in early September. With Bitcoin now making up roughly 2/3 of the entire crypto market-cap, this may hold psychological significance as investors look to take profits in Bitcoin and reallocate a portion of their funds into the alt-coin market.
SPONSORED
Get $50 OFF CryptoList
Get a hand-researched list of over 7,500 CEO's, investors, companies & communities in crypto.

6,000+ verified emails

Enter code NEWS50 to redeem your discount!
FUNDING DEALS
Keyrock Raises €4.3M Series A
Last week, the company that builds the financial infrastructure underpinning many of your favorite exchanges raised capital of its own. Keyrock develops financial infrastructure for crypto-asset trading, aggregating, and democratizing liquidity across a multitude of exchanges.

On Thursday, the Brussel's-based fin-tech firm closed a €4.3M Series A led by SIX FinTech Ventures and MiddleGame Ventures. This brings their total capital raised to €5.3M after their €900K Seed round in April. Keyrock is quickly emerging as one of the preferred market-makers for exchanges around the globe, and this latest round further validates the need for Keyrock's proprietary financial products and liquidity aggregation technology.
SPOTLIGHT OF THE WEEK
Singularity Net (AGI)
Singularity Net is an open source protocol aimed at building a scalable, decentralized AI-marketplace. Founder, Ben Gortzel is one of the leading AI scientists globally with over 30 years experience in the field. Singularity Net is well positioned contender in the AI market, projected to be worth roughly $13 trillion by 2030.

After a 67% correction since recent highs in August, the AGI chart seems to have found support at 270 satoshis. With a market-cap of only $38M, this asset is far from reaching it's full potential.
iExec RLC (RLC)
iExec RLC is a decentralized cloud computing network giving applications access to trusted off-chain computation and data. They are committed to building the future of IT infrastructure and are well positioned to capitalize on a tidal wave of enterprise blockchain adoption.

After a 76% correction, the RLC chart seems to have found support on the horizontal dotted-blue line. If we see an alt-coin market kick off, iExec should be on everyone's radar.
CRYPTO JOBS
Want to Sponsor the Newsletter?

Older messages

👉 Bitcoin Flirts with $16,000

Sunday, December 6, 2020

We looked at Bitcoin price over the past decade and predict that Bitcoin will peak at... Monday, November 9th, 2020 Sign Up Your Weekly Update On All Things Crypto In Partnership With NAMNAR Capital

Reminder: 👉 Bitcoin Flirts with $16,000

Sunday, December 6, 2020

We looked at Bitcoin price over the past decade and predict that Bitcoin will peak at... Monday, November 9th, 2020 Sign Up Your Weekly Update On All Things Crypto In Partnership With NAMNAR Capital

👉 Alt-Coin Rally Coming Soon?

Sunday, December 6, 2020

We looked at Bitcoin price over the past decade and predict that Bitcoin will peak at... Monday, November 16th, 2020 Sign Up Your Weekly Update On All Things Crypto In Partnership With NAMNAR Capital

Reminder: 👉 Alt-Coin Rally Coming Soon?

Sunday, December 6, 2020

We looked at Bitcoin price over the past decade and predict that Bitcoin will peak at... Monday, November 16th, 2020 Sign Up Your Weekly Update On All Things Crypto In Partnership With NAMNAR Capital

👉 Alt-Coins Rally - Here's What You Need To Know

Sunday, December 6, 2020

We looked at Bitcoin price over the past decade and predict that Bitcoin will peak at... Monday, November 23th, 2020 Sign Up Your Weekly Update On All Things Crypto OVERVIEW HODL FOMO vs. Speculative

We just launched this

Tuesday, June 15, 2021

Editor's Note: The team here at CoinSnacks has launched a new publication and we wanted our readers (that's you) to be the first to know. The stock-picking “guru” we brought on board is an old-

Marty's Ƀent - June 15th, 2021 - Issue #1013

Tuesday, June 15, 2021

Tuesday, June 15th 2021 - Issue #1013 Taproot, inflation, and adoption It's been a whirlwind of a seven days for Bitcoin fundamentals. Last week started with El Salvador passing a law that

 Learn SQL and Earn Crypto With Flipside's Simple Crypto Bounties

Tuesday, June 15, 2021

Ready to become a SQL superstar? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Pylon Protocol Deep Dive

Tuesday, June 15, 2021

Flipside takes a deep dive into Pylon, including what it is, why it matters, and how to get involved ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Marty's Ƀent - June 14th, 2021 - Issue #1012

Tuesday, June 15, 2021

Monday, June 14th 2021 - Issue #1012 Layer 3 begins to bud Impervious.ai is building I keep telling you freaks, there are many people who are overlooking the Lightning Network and the utility it

👉 Biggest Bitcoin announcement ever?

Monday, June 14, 2021

We bring you the top stories in crypto every week! Stories like... Monday, June 14th, 2021 Sign Up Your Weekly Update On All Things Crypto In Partnership With: TL;DR El Salvador Becomes First Country

The Sat Standard - Bitcoin Weekly - June 12 2021

Saturday, June 12, 2021

This week in bitcoin. Straight to the point. No bullshit. Every Saturday. View this email in your browser The Sat Standard This week in bitcoin. Straight to the point. No bullshit. Every Saturday.

Marty's Ƀent - June 11th, 2021 - Issue #1011

Saturday, June 12, 2021

Friday, June 11th 2021 - Issue #1011 Tasteful ridicule is the best way out Can sanity return in an insane world? In late April we wrote a rag about the current mass psychosis that large swaths of our

Marty's Ƀent - June 10th, 2021 - Issue #1010

Friday, June 11, 2021

Thursday, June 10th 2021 - Issue #1010 The IMF is not happy with El Salvador Well, that didn't take long. The ink on the bill that made bitcoin legal tender in El Salvador isn't even dry yet

The Bounty Brief #9

Thursday, June 10, 2021

Ready, aim, earn! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌