Your daily newsletter for 12 December, 2019 |
“The roots of education are bitter, but the fruit is sweet.” - Aristotle |
In today's newsletter, we will be covering: - VC firm Andreesson Horowitz (a16z)'s free 7-week crypto school
- A French-regulated Napoleon Bitcoin Fund linked to CME futures
- Elliptic launching tool to connect banks with cryptocurrency exchanges
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Daily Market Summary - Bearish  Total Market Cap: ~$195.6 billion (~1.0%) BTC Price: ~$7,210 (~1.0%) 24-Hour Volume: ~$57.6 billion (~2.0%) BTC Dominance: ~66.7% (~0%) Notable movers: Waves (WAVES) (~17%) BTC is currently trading at ~$7,210, down ~1.0% over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and failed to break through its 100-day EMA line yesterday. RSI is at ~37, indicative of moderate bearish momentum. BTC is still trading within its lower highs and lower lows trading pattern/ channel/ zone it has been trading within since late June this year.  |
Poll of the DayHow much do you agree with this statement: "I would be keen on enrolling in an online crypto education course." |
Why or why not? Share with me in the polls!  |
Crypto education made free  Venture capital company Andreessen Horowitz (a16z) has shared a list of instructors for its free, 7-week cryptocurrency startup school scheduled for launch in February 2020. Experienced investors, entrepreneurs, builders and experts in the blockchain and cryptocurrency field would teach students by sharing lessons learnt, introducing new project ideas, and by sharing the essential information to help them get started. Instructors include leading entrepreneurs and technologists like CEO and Co-Founder of Coinbase Brian Armstrong, professor of computer science at Stanford University Dan Boneh, general partner at Andreesson Horowitz Chris Dixon, and more. The company has previously mentioned that it will not collect payments from students as it wants to hasten the development of existing blockchain-focused projects and to encourage more talent to join the industry.  |
Faith in Bitcoin  Paris-based asset management company Napoleon AM recently announced the launch of a regulated Bitcoin (BTC) fund, dubbed the "Napoleon BTC Fund". Created on 8 Nov, the fund is a specialized professional fund under French law, and is one of the 1st regulated vehicles giving exposure to BTC's price movements. The fund aims to offer portfolio diversification to institutional and professional investors, and to replicate the performance of futures that are listed on the Chicago Mercantile Exchange in cash settlement. The company believes that BTC is especially unique with its high volatility, unusually biased performance in favor of positive returns and a low correlation to old-school assets, making it "suitable to diversify portfolios to optimize risk/return ratios."  |
Closer ties  London-based cryptocurrency compliance company, Elliptic, has launched a new tool that lets banks work more closely with cryptocurrency exchanges, dubbed "Elliptic Discovery". The tool collects comprehensive profiles of over 200 global cryptocurrency exchanges to allow banks to better manage risks linked to cryptocurrency transactions. Designed for banks and based on Elliptic's data collected since 2013, the tool offers compliance teams with key insights to discern the flows of funds on cryptocurrency assets and assess risks including money laundering.  CEO and Co-Founder of Elliptic James Smith explained that the new tool addresses the current lack of visibility into the cryptocurrency-asset ecosystem by banking institutions, a problem that causes "zero tolerance" to the new asset class and "frustrated customers." |
Other news  At the recent Elev8CON, Majority Leader of the California State Assembly Ian Calderon talked about plans to bring more legal certainty for blockchain technology to the State of California.  Twitter and Square CEO Jack Dorsey announced plans to back an independent team “of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media.”  Former Director of the Digital Currency Research Institute at the People's Bank of China (PBoC) Yao Qian is reportedly heading a new technology supervision division set up by China's securities regulator. 
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Blockchain term of the day  - BitLicense A business license issued to cryptocurrency companies in New York, created and provided by the New York State Department of Financial Services (NYSDFS). |
Thursday think tank  Our friends over at Flipside Crypto have produced data revealing the most under- and overvalued coins for the week!  The scores you see below refer to the ratio of each coin's current FCAS rating to its current market capitalization, both standardized to a 1000-point scale. A score above 1 reflects an undervalued coin, and a score below 1 indicates an overvalued asset! Hold your horses! Before you go ahead and jump right into investing, always remember to first D.Y.O.R (Do your own research)! |
Crypto calendar  TBA - Justin Sun's lunch with Warren Buffett |
What you said"How much do you agree with this statement: "Crypto investing is more appealing to me than traditional investing."" The average vote was 7.8. 49.2% of y'all voted a '10'! |
"What type of crypto investor are you?" 54% voted "HODLer! Trading isn't for me. Why sell when it is mooning soon!"39.7% voted "I trade a little, but just a little... (Please go up!)"6.3% voted "Derivatives, Margin Trading, Long Alts, Short Alts, you name it, I trade it." |
"Why?"I am a short term trader/holder. I trade some 60 different coins. When coins go up I sell some, when they go down I buy more back. Having been a chart reader for over 30 years I love the volatility of crypto. I came from the commodity market, now 100% crypto. – That’s insane! 60?! Surely you must have some crazy focus to be able to do that. More profitable in the long run for me. Don't have the personality, character to watch a screen – Less stressful too. I studied a lot for this and I still learning – Gotta keep on learning!I lost money in Galaxy Resources a company that kept scamming people to invest, once thay saw that their profits would rise, they deleted me and no doubt many others, had this not happened I would have mad e$6,000.00 instead I lost everything. I feel crypto is much safer once you learn how to use it and I am learning all the time. – It’s full accountability with crypto. Double edged sword. Because I am the master and keeper of my own money, damn! – I like the sound of that!Just getting started in the crypto game, so who knows where that will go. For now, buying and holding – Simplicity is key sometimes. if i see back the gains i have made in crypto is exceptional. also with crypto i am in full control of the assets. but one thing it depends what u hold. invest in good projects & hold a while it will give super gain. – Full accountability. Gotta love crypto. Long term accumulator – Same here!Crypto are way more interesting that traditional markets. There is continuous developing both in technology and social assumptions, which will end up taking over traditional markets. – Yeah, it’s a rapidly developing space. You wake up each day and there’s always something new and refreshing. The space truly has a lot of potential and a great deal of smart people are working towards unlocking that potential. I believe the market will go up sooner or later. Then we can make large profits! – Which begs the perennial question: “Wen Moon?”I am a small investor and you need only small capital to trade different coins and hodl till it shots to the moon. Guys we need info for different coins and tokens for passive income. – Well you could look into coins that can be staked! Or look into Defi! i believe in the tech and the ideas of financial freedom. i believe that money should be borderless and owned by the individual rather than the corporate overlords. i believe in what it offers. I see the long term opportunity it brings. I see the value. And why is crypto more appealing to me than traditional markets, I lost my shirt, 3/4 of pants and cap when it was bad in 08/09. few years later when i saw crypto and what it was, i knew this is the only solution to the problems that institutional money brings. – Man the last fin crisis was brutal. If there was one good thing that emerged from it all, it was BTC. Great question, tough one to answer. As much as I love crypto, the voice inside me says " This could very well go to zero". CD's, money market accounts, blue Chip mutual funds are a lot safer with proven track records. Crypto could be 10x or bust. But I love it. Lol. – Are blue chips truly safe in a global financial crisis? Haha. We all saw what happened in 2008. I can’t imagine the magnitude of the next one. Learning as I go along, experience (mine especially) is to approach with risk based approach, and only trade what I can afford (who can really)!! to lose – Yup! Treat it as money lost. |
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news!  |
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