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- Weekly Rundown - September 24, 2023
Weekly Rundown - September 24, 2023
"We’re going to continue to bring charges"
Mark Helfman
September 24, 2023
This past summer, I heard so much talk about narratives. Not so much anymore.
No matter. I published my three big crypto narratives for the coming months and years. Read it so you know what trends to follow and cryptos that will benefit from them.
I won’t post a rundown next week! I have some commitments that will get in the way. Before then, I’ll post the monthly issue and a market update for premium subscribers.
Make sure you got my most recent update from September 21.
In that update, I covered two potentially significant behavioral shifts related to stablecoins and miners, plus some altcoin trends you need to keep an eye on.
If you missed that update, make sure you’ve upgraded to the premium plan so you don’t miss anything else. Upgrade now you’ll also get:
👀 Direct contact with me.
📈 Video and written market analyses so you can make better investment choices.
🧐 Exclusive altcoin reports and special content to stay ahead of the competition.
Interesting times.
Oh, I forgot—this week, US regulators warned you to expect more charges against big crypto entities. People be like “OMG we’re screwed” but I’m like, “tell me something you haven’t told me for the past three years.”
Anyway, scroll down for some content you may enjoy.
Big thanks to my trusted exchange partner, BYDFi.
The market’s quiet and prices are low. If you’re not following my plan, you need to dollar cost average into Bitcoin and get a good allocation to the altcoins I’ve recommended.
And, if you’re buying, it’s important to do so with a licensed and reputable exchange. That’s why I recommend using BYDFi.
In addition to the new super airdrop, when you complete KYC and deposit any amount using your credit card, you'll be airdropped $100 for trading on perpetual contracts.
Trivia night!
Which of these altcoins performed the best against Bitcoin since January 1, 2021?
LINK
ETH
CTSI
The answer is . . .
Cartesi (CTSI), one of my altcoin reports, and most of you have never heard of it.
LINK is down 33% against BTC since January 1, 2021 (up 100% against BTC since its 2017 peak).
Ethereum is up 133% against BTC since January 1, 2021 (down 60% against BTC since its 2017 peak).
CTSI is up 240% against BTC since January 1, 2021 (up 120% since its creation in 2020). If you delegated CTSI since its staking program started in 2021, you did even better. Bonus for running a node.
I’ll have another altcoin report later this year.
When it comes to altcoins, people think you need to wait for perfect timing. Such a thing doesn’t exist.
No altcoin is worth its price today—but the good ones will be worth so much in the future, today’s price won’t matter.
Prices are low relative to historical benchmarks and the market’s trying to complete a bullish trading pattern.
You don’t have to like it or believe anything good will come of it. But you have to accept this is the situation.
Treat each individual altcoin as its own investment. Consider staking rewards, market cap, token emissions, burning/buyback mechanisms, treasury and governance policies, and all the things your favorite YouTuber doesn’t tell you about.
Bottom line: another US judge reminded US regulators about their absurd position on cryptocurrency, this time stopping the US government from inspecting BinanceUS software because regulators didn’t show a good enough reason to do so.
My take: are you still worried about US regulators crushing crypto or choking off US access to the markets?
“Chokepoint 2.0,” Nic Carter’s “sophisticated, widespread crackdown” on crypto banking almost caused a global financial crisis and drove 0 crypto companies out of business. The SEC loses half its crypto cases (normal agencies have a +90% win rate). Congress is gearing up to investigate perceived incompetence and bad-faith actions. The courts continue to hold the SEC’s feet to the fire.
Why we care: don’t worry about the US!
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Bottom line: FTX’s lawyers sued SBF’s parents for $26 million because they knowingly spent customer funds on themselves.
My take: shady stuff. Can’t comment further because I don’t know the true story or how much they knew and when they knew it. Sometimes, people get accused unfairly.
Funny story. When the news hit, my old boss from one of my political jobs emailed me “I know Sam’s father, a tax law professor at Stanford and a great guy.” Easy to be a great guy with other people’s money, innit?
Why we care: never judge a person because they’re “a great guy” or because they seem shady. We don’t know these people at all!
Ryan Rugg, Head of Digital Assets, @Citi
You'll never guess what blockchain Citi built their digital tokens on while @Ripple was tied up in a two+ year lawsuit with the SEC. This talk reminds me of a the talks @bgarlinghouse was doing four years ago.— Digital Asset Investor.XRP (@digitalassetbuy)
Sep 19, 2023
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Relax and enjoy the ride!
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