Market Update - November 2, 2023

This week, the Fed left rates the same. Bitcoin pumped. Coincidence?

Probably.

Some analysts still think US interest rates drive the crypto market. Maybe, maybe not. I’ll leave that to the experts. A lot of people put a lot of stock in Fed decisions. Read my latest Medium article for my thoughts on that.

Let's just take the market as it comes. I've heard some commentators talk about a wave of speculation. From what I’m looking at, the evidence suggests this recent upswing comes from natural enthusiasm, not a burst of speculative interest or degeneracy.

How sustainable is this move? Today’s update covers that and more. Topics:

• Video

• Organic demand

• So . . . Act 3 . . . yes or no?

• Accumulation patterns are a little off

• Realized Cap HODL Waves tell the story

• Your altcoins already doubled—sell half?

• Your altcoins are not “the altcoin market”

I strongly advise you to read the summary below and watch the video update! You miss too much when you get only one of them!

To speed up the video (shorten the playing time), tap the circled gear button at the bottom-right corner of the video. A playback speed of 1.5 should do ok for most of you.

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