People are still shorting bitcoin. Look at this table and then I will explain: This is a table of the funding rates for the Bitmex XBTUSD perpetual contract, the most liquid Bitcoin futures contract in the world. Volume in the last 24 hours? One point seven billion USD. I think it’s a pretty reliable indicator of sentiment about… Read More »
July SHOULD be a quiet month. August, not so much. By September it will get crazy again. I see Ethereum is bouncing around, hitting $2400 earlier this week, and now testing $2100. In the short-term nobody knows anything although lots of people pretend to. But in the first week of August, expect big news to be announced in… Read More »
There are lots of people on the Internet who love to talk about bitcoin. To be blunt, I don’t find many worth my time. Commentators who dump on bitcoin for five minutes and then admit they have never owned it: They remind me of my kids when they used to announce that dinner sucked without even taking the… Read More »
Recently my wife and I drove to Osoyoos, the epicenter of Canada’s wine industry, for a few days of wine tastings. I should have stayed there. The emotional state of a long-term crypto-investor is brief periods of euphoria followed by moments of horror followed by long periods of gloom-and-doom. Here we go, again. At times like this, I… Read More »
In much of North America, COVID is on the retreat, and that’s great news. Case numbers in the United States have fallen to their lowest point since testing became widely available. Fewer deaths are being reported each day than at any point since March 2020. New York Times And that means many, if not most, traders will be… Read More »
Going big into crypto in the spring of 2017 was an easy decision, as we were dying elsewhere Our big meal ticket, the oil and gas sector, had gone dry back in 2014 when the Saudi sheiks decided to start a price war and put the American shale producers out of business. There were no other good choices.… Read More »
