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Market Report: 11th March 2019 — Subscribe to our newsletter.

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OUR TWO SATOSHIS

The daily view from our desk

Conspiracy theories are all the rage, anti-vaxxers and flat earth earthers alike continue to share their thoughts on social media, but not for much longer. Have you heard the new theory? That space is a social construct and doesn’t exist! What’s next, a theory that we’ve all been eating pineapple wrong?

THE FUTURE OF PUMPING IS HERE

BUY THE LUMENS, STELLAR THE NEWS

It was a slow weekend for most large-cap cryptoassets, i.e. those with a higher market valuation — a measure which doesn’t mean much anyway, but that’s useful for these kinds of snapshots. Except for Stellar’s XLM, which started pumping on Saturday and is already up 23%. The move was entirely technical, as Wendy shows, meaning there was really no fundamental change propelling the bulls.

In that regard, kudos to Stackin Bits who anticipated the move on Thursday. But note that all those trying to anticipate similar moves for low-cap cryptoassets can’t usually be trusted — because those projects can easily be manipulated as they trade on thin volume. So, as what happened with Enjin recently, what mostly drives those wild coins are rumours and private information — “the only hedge”.

DIVERGENT ANALYSIS

CHANGE, LIKE HEALING, TAKES TIME

Still, a good indicator that tends to anticipate price moves in almost every coin is a change in volume — with Bagsy sharing some examples of situations in which volume substantially increased — or failed to — before a pump. But all this bullish conversation makes us fight the trend and share some bearish scenarios for you to reflect on. On the one hand, consider Hsaka’s great comparison of BTC and ETH.

In brief, when ether begins to move the other way of the original cryptoasset, the market tends to follow the follower instead of the leader. And, as ETH is falling, this week we might see a small correction. On the other hand, Edward Morra is noting “it’s time for litecoin to cool down a bit” — and remember LTC has also been a key influencer of the recent alt moves. But, if Bitcoin’s Market-Value-to-Realised-Value ratio breaks upward of this green zone we should be safe!

WHAT YOU CAN’T MISS TODAY

DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY

▪ They say the bull market can only return when all the scams have been charged. And last Friday US prosecutors finally charged and arrested OneCoin’s team.

▪ They say MimbleWimble will make privacy projects fashionable again. Learn everything about this hyped protocol with the latest report from Circle Research.

▪ They say Ethereum’s Proof-of-Work isn’t suitable for the future. But is Programmatic Proof-of-Work better? Dovey Wan and Martina Long believe it isn’t.

▪ They say assets are securely owned on a blockchain. But are they? Token Daily Research’s first article, by Raul Jordan, explains how final is Blockchain finality!

▪ They say MIT Bitcoin Expo is a great conference. Nic Carter’s talk seems to confirm it. Check the popular VC’s take on the next ten years for BTC here.

▪ They wonder whether “Blockchain is a Solution Looking for a Problem”, but Ravi Menon, MD at the Monetary Authority of Singapore, nicely rebuts that claim.

QUOTE OF THE DAY

IF WE KNEW WHAT WE’RE DOING IT WOULDN’T BE CALLED ANALYSIS

“Lifecycle of an Analyst: 1) Wake up; 2) Make a prediction; 3) Wait; 4.1) If prediction comes to be => “look at me, I’m the best”; 4.2) If prediction does not come to be => “market conditions changed, to be expected given the circumstances”

• By Alex Kruger