It’s safe in the cryptos 🔑

Market Report: 24th April 2019 — Subscribe to our newsletter.👈

OUR TWO SATOSHIS

The daily view from our desk

“THE BEARS ARE ALREADY HERE”

WHAT IF THOSE WHO WERE THOUGHT
TO BE REKT WERE JUST ASLEEP?

Meanwhile, the alts dump has halted. But note that Ripple’s XRP — one of the five large cap alts that failed to appreciate this year — revisited last December and February lows. On USD terms that is; because against BTC it might have been the short of 2019! This scenario is exciting bears. Some are even claiming April’s rise was a bull trap. Horn Hairs shows how in July 2015 a similar scenario played out — where BTC fell 38% after failing to break a strong resistance — so check it out!

“IT’S SAFE IN THE CRYPTOS”

“WHEN THE TIME COMES, YOU’LL BE DOWN IN THE CRYPTS. THEY’RE THE SAFEST PLACE TO BE”

On the same hand, a new report by the CryptoIntegrity team, a cool “non-commercial project aimed at fraud detection and forensics in the crypto markets”, deep-dived on the liquidity issue. After analysing the order books of the top cryptoasset exchanges, they just posited the April 2nd lift started with a trade on Bitfinex — instead of on HitBTC, as CoinMetrics.io suggested.

A representative even claimed “The more probable hypothesis is that a trader, or a group of traders, which are possibly affiliated with crypto exchange(s), has pumped the price in order to increase volatility and draw attention to crypto trading”. Which brings memories of good-old Tether pumps to our mind. Oh, when will the infamous Bitfinex’ed Twitter account return to stir the waters!

WHAT YOU CAN’T MISS TODAY

DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY

Wired tells the story of how millions of dollars were stolen from Ethereum wallets that had weak private keys. A great reminder to up your security!

▪ NYT’s popular blockchain reporter, Nathaniel Popper, asks if “after the bust, bitcoins are more like tulip mania or the internet”? Tl;dr: it’s too early to tell.

▪ Tezos, whose XTZ token is up 3x over the past quarter, is finally attracting significant attention. Charlie Wiser, from a Tezos-affiliated group, explains why.

▪ Lastly, if you missed CryptoIntegrity’s article from the sections above, make sure you learn more about “true liquidity and price discovery in crypto space”.

QUOTE OF THE DAY

DID THE INCENTIVES CREATE THE MOTIVATION OR THE MOTIVATION THE INCENTIVES?

- By Nathaniel Popper

LBX, The London Block Exchange

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Learn more about the world of #cryptocurrency and start buying, trading and spending at the London Block Exchange. Capitalise on your curiosity.