Investing in the Midst of the Bear Market
Is it the classic investment mantra we’ve all laughed about? Buying when there’s blood in the streets might sound exciting, but when it comes to cryptocurrency, it can feel more like walking through a horror movie. If you’ve felt a bit rattled by the ongoing downturn, fear not – you’re hardly alone. Crypto remains a mysterious and untested asset class, shrouded in regulatory uncertainty that would make even the bravest investor hesitant. Some might say, ‘Why invest when my crypto portfolio is down 70% this year?’ Rest assured, you’re not the only one asking that question!
Smart Money’s Play: Opportunity in Crisis
A quiet flock of savvy investors seems to think this is the ripe moment to scoop up Bitcoin (BTC) and other digital assets, regardless of the disasters lurking in the rearview mirror. Amidst the rubble from the FTX collapse, investment giant Goldman Sachs is peeping through the dust, hinting that crypto prices are starting to look sensible again. Who knew, right? This may be the silver lining every crypto enthusiast was aching for.
“Crypto companies are priced more sensibly today than they were over a year ago.” – Mathew McDermott, Goldman Sachs
Ledger’s New Wallet Features Cutting-Edge Design
While centralized platforms flounder, Ledger seems to be surfing the wave of new orders for its Ledger Nano devices. The company is ramping up its game by collaborating with Tony Fadell—yes, ‘the Father of the iPod’—to launch the Ledger Stax. Imagine a wallet the size of a credit card, complete with a snazzy E Ink display and the ability to charge wirelessly. Pro tip: remember, “Not your keys, not your Bitcoin!”
Blockstream Guts it Out Through Financial Hardships
Ever heard of Blockstream? No? Well, it’s one of those Bitcoin infrastructure companies that’s now scrounging for funds, a sporty 70% lower than its 2021 valuation. Adam Back, the head honcho, is donning his best negotiation hat while aiming for new financing at less than $1 billion. Blockstream is also up to its elbows in scaling mining capacity with a partnership with Jack Dorsey’s Block, focusing on a solar-powered Bitcoin mining facility in Texas. Talk about eco-friendly Bitcoin!
Three Arrows Capital: The Legal Shenanigans Continue
Bitcoin’s Current Standoff: Bull Trap or Santa Claus Rally?
As Bitcoin teetered around the $17K mark this week, market analysts are scratching their heads trying to determine if this signals a resilient rally or just a deceptive uptick resembling a bull trap. In this week’s Market Report, discussions have spiraled around whether we can expect the famed ‘Santa Claus rally’ to take place. Who’s got their fingers crossed for a Christmas miracle?
