Fear is the Ultimate Uncertainty

Crypto Bytes
DIGESTIBLE CRYPTO NEWS + PODCAST

“In the future, all assets will become digitized.”

Yoni Assia, 2019

MOON
Who’s up…

Finally Fidelity… Fidelity, one of the largest asset managers in the world with $2.7 trillion under management and 1.3 million trades a day is to start bitcoin trading for institutional investors “within weeks”. That’s after they carried out a survey where they found almost half of institutional investors might add bitcoin to their portfolio.

Bitcoin^2… Payments company Square reported its first-quarter earnings today, revealing strong growth in bitcoin sales through its Cash app. Square reported $65.5 million in bitcoin revenue for the first quarter of 2019.

Takeaways: Institutional money getting into the crypto space is very interesting and IMO will be a catalyst for the market to reach new highs as new money pours in by the millions. Fidelity’s survey and Square’s Cash app are both positive signs that the sentiment towards crypto heading the right direction.

REKT
…Who’s down

Buffett Bashing Bitcoin…Again… Warren Buffett’s newest bitcoin comments seem even harsher. In an interview before Berkshire’s annual meeting, Buffett called bitcoin “a gambling device” and also pointed out that there’s been lots of fraudulent activity in the bitcoin world. “It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me,” Buffett said.

Un-Tether… After a week of drama surrounding iFinex Inc., which operates Bitfinex and owns Tether Ltd., CoinMarketCap has decided to remove Bitfinex’s price data from its calculations.. Tether and Bitfinex confirm USDT is not fully backed by fiat, only 74% of tethers backed with cash. According to court documents from Bitfinex’s legal representation, the company needed the $900 line-of-credit to cover the loss of access to $850 million from payment processor Crypto Capital.

Takeaways: I am Buffett fan as much as the next person but if you understand Buffett investing philosophy his judgement towards Tech Stars hasn’t been spot on from missing out on Microsoft and just recently investing in Amazon and Apple. Tether has been in the spotlight before regarding shady activity and this is just another sign that has me stay far away from Tether (USDT).

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
ARCBLOCK (ABT)

$0.30 +61.8%

COIN OF THE MONTH
BITCOIN CASH (BCH)

LEADERBOARD
MonkeysJunk: +1.1%

52 Fog Tokens

CRYPTO CELEBRITY

David Hay: +6.9%

RED FOG INDEX

+5.2%

BITCOIN (BTC)

$5,794 +9.9%

RF YOUTUBE INDEX

+3.1%

CRYPTO BYTES PODCAST

17 MINUTES
Episode 4: How To Properly Store Bitcoin?

 

COMING UP THIS WEEK

 

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Everyday
15 Minute Coinbase Coins @ 12pm CST
30 Minute Takenrun’s Favorite Coins @ 3pm CST
Top 10 Power Hour @ 6pm CST
Level 0 Challenge @ 8pm CST

Thursday
Game of Coins: EOS vs. Ethereum @ 2pm CST
Game of Coins: Neo vs. Ethereum Classic@ 6pm CST

Friday

Game of Coins: TRON vs. Cardano @ 2pm CST

Game of Coins: Iota vs. Tezos @ 6pm CST

RECENT RESULTS
Game of Coins: Bitcoin vs. XRP
Bitcoin: +5.25% (87% picked)
Game of Coins: Bitcoin Cash vs. Litecoin
Bitcoin Cash: +7.7% (50% picked)
Game of Coins: Dogecoin vs. Bitcoin SV
Bitcoin SV: -1.25% (37% picked)

Game of Coins: Bitcoin Gold vs. Stellar
Bitcoin Gold: -0.67% (50%
picked)

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Bitcoin is Rat Poison

Crypto Bytes
DIGESTIBLE CRYPTO NEWS + PODCAST


In the next 10 years there will be more digital currencies than fiat currencies, In 25 years, BTC may become a global currency.”

Anthony Pompliano, 2019

MOON
Who’s up…

Samsung Doubling Down On Crypto… South Korean technology giant Samsung has invested 2.6 million euros ($2.9 million) into crypto hardware startup Ledger. This news follows their recent announcement that the Samsung S10 will be equipped with a crypto wallet.

‘Crypto Winter’ Is Over… Bitcoin bull Tom Lee says ‘crypto winter’ is over and new all-time highs by 2020 are ‘likely’. Of the 11 signs that the crypto winter is over, Lee’s top bullish drivers for bitcoin have to do with blockchain, technical indicators and trading volumes.

Takeaways: The sentiment towards Bitcoin seems to be changing as experts have a positive outlook and is one of the best performing assets in 2019. Corporations are beginning to see the value and are investing for the next wave of innovation.

REKT
…Who’s down

2041 Recovery… According to an analyst at UBS – a Switzerland based International bank – Bitcoin may take up to 22 years to regain its previous dizzying highs based on the historical performance of similar asset bubbles…

Sorry Son… Softbank’s founder & billionaire, Masayoshi Son, lost a reported $130 million from buying bitcoin at the $20k peak and sold in early 2018. Don’t feel too bad, his net worth is still $24 billion.

Takeaways: To quote the legendary Warren Buffett, “Be fearful when others are greedy and greedy when others are fearful.” In other words buy low and sell high – and don’t follow the herd. Buffett advice could have saved Son millions if he didn’t get caught up in the crypto craze.

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
True USD (TUSD)

$0.99 +3.1%

LEADERBOARD
Matt_88: +24%

252 Fog Tokens

CRYPTO CELEBRITY

Doug Polk: -3.0%

RED FOG INDEX:

-7.9%

BITCOIN (BTC)

$5,272 -0.6%

CRYPTO BYTES PODCAST

25 MINUTES
Episode 3: What is the value of Bitcoin?

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COMING UP THIS WEEK

 

Game of Coins TournamentRegistration Open Now. Reserve your spot today!

Tuesday & Wedneday
15 Minute Coinbase Coins @ 12pm CST
30 Minute Takenrun’s Favorite Coins @ 3pm CST
Top 10 Power Hour @ 6pm CST

Thursday
Game of Coins: Bitcoin vs. XRP @ 2pm CST
Game of Coins: Bitcoin Cash vs. Litecoin@ 6pm CST

Friday

Game of Coins: Dogecoin vs. Bitcoin SV @ 2pm CST

Game of Coins: Bitcoin Gold vs. Stellar @ 6pm CST

RECENT RESULTS
Game of Coins: Basic Attention Token vs. 0x
Basic Attention Token: -7.74% (80% picked)
Game of Coins: Augur vs. Decentraland
Augur: +2.44% (30% picked)
Game of Coins: Saicoin vs. Binance Coin
Siacoin: +3.24% (10% picked)

Game of Coins: OmiseGO vs. Civic
OmiseGO +3.87% (90%
picked)

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