Archive: Bitcoin
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Don’t Buy the Bitcoin ETF Hype in 2023
By Vin Narayanan on July 7, 2023
I’m going to write a book about crypto in the next couple of years. And one of the book’s chapters will be devoted to bitcoin ETFs. Since 2018, crypto investors have been hoping that an SEC-approved bitcoin (spot) ETF would lead to a tidal wave of institutional money entering the system. But the SEC hasn’t approved a single ETF application. And it’s made it very clear that it is not going to do so in the…
Be Cautious in Unpredictable Crypto Markets
By Vin Narayanan on June 30, 2023
The crypto markets have entered a highly unpredictable phase. There are so many contradictory market forces in play that it’s hard to make any short-term market predictions. The SEC is going after Coinbase. Coinbase is fighting back. Blackrock (among others) applied for a bitcoin spot ETF (with bitcoin as the…
Crypto Insider: Overcoming Crypto Skepticism
By Early Investing on June 14, 2023
It’s a tale as old as time. As one generation grows older, the next generation becomes more independent. The younger generation creates or popularizes new forms of technology, art, and culture, while the older generation tends to reject them — usually because the older generation doesn’t understand them. …
Bitcoin Decouples From Stocks, Moves Closer to Gold
By Vin Narayanan on June 2, 2023
Crypto Market Musings It’s been a relatively calm week for crypto. Bitcoin is up 1.73% over the last seven days as of this writing. Ethereum is up 3.54% over the same period. Monero is down 1.93%. Crypto has largely decoupled from the Nasdaq and the S&P…
Crypto Insider: Bitcoin Falls While AI Cryptos Rally
By Early Investing on May 31, 2023
Bitcoin dropped around 8% in May — its first monthly loss of 2023. There are a few factors that drove it down, including continuous inflation, high interest rates, and bitcoin decoupling from the Nasdaq. But while bitcoin is falling, AI cryptos are soaring. According to CNBC,…
Get Your Investing Mojo Back
By Vin Narayanan on May 12, 2023
Crypto Market Musings Bitcoin is trading around $27,000 as of this writing and is down about 6.5% over the last seven days. Ethereum is trading around $1,800 and is down about 4.5% over the same time period. Welcome to crypto allergy season. Some weeks will be good. Some…
Federal Court Gives the SEC a Deadline to Respond to Coinbase
By Vin Narayanan on May 5, 2023
Crypto Market Musings Bitcoin is down around 0.7% over the last seven days. Ethereum is down about 0.4% over that same time period. And Monero is up about 1.8%. Conflicting macro narratives appear to be driving the market. Inflation is proving to be stubborn, and the…
The Kind of Regulatory Moment Crypto Needs
By Vin Narayanan on April 28, 2023
Crypto Market Musings As I write, bitcoin is trading around $29,000. Ethereum is trading close to $1,900. And the rest of the markets are a mess. Welcome to crypto allergy season, everyone. The bear market is over. The bull market hasn’t started. That means cryptos aren’t…
New Pick: An Ethereum Scaling Solution With Impressive Early Growth
By Vin Narayanan on April 21, 2023
I don’t think we’re in a crypto bull market yet. There’s too much near-term regulatory uncertainty with the SEC going after Coinbase and Bittrex and declaring Algorand (ALGO), Dash (DASH), OmiseGO (OMG), and others securities. That combined with economic uncertainty and inflation concerns means there is still significant…
New Pick: The Likely Dominant Player in Crypto Data Storage
By Vin Narayanan on April 20, 2023
It’s easy to think about crypto as a series of prices that go up and down. It’s even easier to think about crypto as a series of prices that go up when bitcoin goes up and go down when bitcoin goes down. But the reality is far more…
Inflation and the Fed Are Keeping the Crypto Market in Limbo
By Vin Narayanan on April 14, 2023
Crypto Market Musings It feels like the crypto markets are warming up. As I write this, bitcoin is trading above $30,000. Ethereum is trading around $2,000. Even Solana has managed to make big gains. It’s up almost 20% over the last seven days. Most of Ethereum’s…
Ethereum’s Price Action Is Tied to the Shanghai Upgrade
By Vin Narayanan on April 7, 2023
Crypto Market Musings Bitcoin is having a year. In the midst of a banking crisis and regulatory upheaval, bitcoin quietly posted a 72% gain in the first quarter of this year. That’s bitcoin’s most popular quarter since the first quarter of 2021, when bitcoin’s price went up 102%.
Crypto Insider: Crypto Market Hits Bottom-Ish
By Early Investing on April 5, 2023
The crypto market is in a weird place right now. Bitcoin performed exceedingly well for the first three months of 2023, which is good news. But inflation is not slowing down as quickly as the Federal Reserve (and investors) would like. Wages are going up. And OPEC just…
Crypto’s Two Biggest Exchanges Get Heat From Regulators
By Vin Narayanan on March 31, 2023
Crypto Market Musings Bitcoin broke through the $28,000 barrier (and for one brief moment topped $29,000) on Wednesday after spending about a week trading in the $27,000 range. It’s currently trading at $28,460.27. Most cryptos rallied behind bitcoin’s big Wednesday surge (more than 5%). Ethereum jumped…
Two Coins You Should Sell Right Now
By Vin Narayanan on March 24, 2023
Don’t let this recent bitcoin rally fool you. Even though bitcoin is up about 5% over the last seven days and up 20% over the last month, the markets are in a dangerous spot. Much of bitcoin’s rally can be attributed to a big bet placed by Balaji…
Balaji Srinivasan Bets on Hyperinflation
By Vin Narayanan on March 24, 2023
Crypto Market Musings Bitcoin is soaring. It’s up more than 20% over the last 30 days and up about 5% over the last seven days. It’s trading at $27,928.74 as of this writing. Ethereum is up a more modest 10% over the last 30 days and about 1.5%…