Daily Crypto NewsEDITION #220, 23 May 2021

Bye-bye, alt season?

Hey #Moni Maker 🎸

Today, in 2000, American rapper Eminem released his third album The Marshall Mathers LP, which is still considered one of the best in his career as a musician. Twenty years later, Eminem is riding the NFT wave successfully. Will he make his own coin next?

We don’t know. But if so, Digest will tell you about it for sure! Let’s go!

The crypto community stands divided on how to interpret the BTC price crash this week, wherein the pair lost more than 35% of its value at one point on Wednesday, crashing to as deep as $30,000 on Coinbase.

Global media outlets attributed the plunge to China reiterating its anti-crypto business stance and Tesla suddenly discontinuing Bitcoin payments for its electric vehicles.

But Stack Funds research leader Lennard Neo presented a short-term growth pattern from altcoins to bitcoins.

That is, some analysts are confident that the current trend will turn investors away from altcoins towards bitcoin.

So what?

Once Again! There are a lot of analysts, and there are even more opinions. We remind you not to listen to someone's advice. Even ours.

After the mass adoption, a university will be built somewhere in the USA in honor of Tony B. Get ready to pay your children and grandchildren tutors to go there. But for now, you can follow his Twitter. Interesting? No! Fascinating!

Maestro Tony, what do we have today? ...

All models are wrong, some are useful. Part VI: 2-Year MA Multiplier

Indicator Overview

The 2-Year MA Multiplier is intended to be used as a long term investment tool.

It highlights periods where buying or selling Bitcoin during those times would have produced outsized returns.

To do this, it uses a moving average (MA) line, the 2yr MA, and also a multiplication of that moving average line, 2yr MA x5.

Note: the x5 multiplication is of the price values of the 2yr moving average, not of its time period.

Buying Bitcoin when price drops below the 2yr MA (green line) has historically generated outsized returns. Selling Bitcoin when price goes above the 2yr MA x 5 (red line) has been historically effective for taking profit.

Why This Happens

As Bitcoin is adopted, it moves through market cycles. These are created by periods where market participants are over-excited causing the price to over-extend, and periods where they are overly pessimistic where the price over-contracts. Identifying and understanding these periods can be beneficial to the long term investor.

This tool is a simple and effective way to highlight those periods.

Interactive chart: lookintobitcoin.com

In August 2019, CZ said a similar phrase only if BTC was sold <$ 10,000.

So what?

Oh, CZ, your words should be heard by Elon...Elon Dumpsk

The number of tweets about Bitcoin per day has reached historical figures.

Bitcoin was mentioned on Twitter more than 232 thousand times, such interest in the first cryptocurrency was caused against the backdrop of a fall to $ 30 thousand.

So what?

In some circles, Twitter is known as the "whining" social network. Here you go. :)

And you...buy Bitcoin! 😉 (it's a good time!)