Daily Crypto NewsEDITION #20, 08 September 2020

(The) Apple of Discord or crypto is so small!

Hey #Moni Maker 🙃

September 8 was declared international literacy day by UNESCO on October 26, 1966. Being literate (or illiterate) may become a turning point in one's life. It goes without saying that financial literacy is vital in the modern world. Luckily you're on the Moni Talks mailing list and are always aware of the latest happenings in the financial universe, right?

Wait no more! Let's check out the latest news!

In four days, the market capitalization of Apple technology corporation fell by $400 billion; only on September 3, this figure collapsed by $180 billion (current bitcoin capitalization), which was the largest correction in the history of any company in the world.

Apple shares have an enormous market capitalization of $2.1 trillion, which exceeds the market capitalization of the whole cryptocurrency market, which equals to $320 billion. And it's just one company! If you add up the capitalization of all the technology companies and compare it to the crypto capitalization... The difference is even greater: $9.1 trillion in the U.S. technology sector, compared to $320 billion in the crypto market.

Let's go, crypto! We've got great things to do!

So what?

On one hand, yes! Apple is a GREAT/AMAZING/WOW success, and Steve Jobs caused a true revolution. On the other hand, it wasn't that much of a revolution, but rather an evolution. After all, Apple already had a field of old button cell phones to lean on.

Bitcoin is something completely new and even had no analogs before its emergence. So, Apple had a better hand in this poker battle.

Also, let's note that Apple, no matter how good their IPhones are, doesn't offer anything new: maybe a better camera, FaceID, etc. But cryptocurrency is full of innovative ideas that can change the world and turn it upside down!

Check this Reddit post. It compares the recent bitcoin's fall to the one in March, and now it is proudly hanging on top r/cryptocurrency subreddit. So! Maybe the reversal is really close. Who knows?

So what?

What can we say? Real minimalism. Just two charts, but the heart starts beating faster, doesn't it?

Ok. We look at the situation, we analyze it, but we never fall into traps, set up by emotions! Remember, trader and investor! Stay Calm! Always!.

«Монеты с параболическими движениями в этом году падают после того, как недавно достигли ATH. Рентабельность инвестиций с максимальных значений составляет от -30% до -50%.» — написал аналитик CMT Digital у себя в Twitter

So what?

ATH - All-Time-High, roughly speaking, the highest price of a certain coin ever. The fall of such coins, even by 50%, is a normal scenario in the crypto world. Just like a sunrise in the morning, for example :)

Technical and on-chain analyst, Ali Martinez dove into the large Ethereum wallets using data from the Santiment website. He came to the conclusion that roughly 68 new whales holding 1K to 10K $ETH have joined the network in the past three days.

So what?

Let's talk numbers first. 1,000 - 10,000 ETH is about $350,000 - $3.5M at the time of writing.

The price crashed; people ran to buy Ethereum, because, with the DeFi and other projects hype, ETH seems to be a dark horse in the cryptocurrency game. And you never know what you should expect from this horse.

It's a russian meme: "My little motherf******".