Daily Crypto NewsEDITION #216, 18 May 2021

Burn, Buterin and Burn!

Hey #Moni Maker 🎸

Today, in 1830, industrial production of the first lawn mowers began in the United States. 200 years later, US central banks are mowing money along with lawns. More precisely, they print. More precisely, they print a lot. Probably, in the 22nd century, descendants will christen our time with the following words: inflation, coronavirus, cryptocurrency.

In the meantime, we are reading the digest. Let’s go!

After the dogecoin hype invoked a new ERC20 token project called Shiba Inu, the crypto asset has been making waves throughout the crypto industry. On Wednesday, the cofounder of Ethereum, Vitalik Buterin donated $1 billion worth of Shiba Inu to India’s Crypto Covid Relief Fund. Then a few days later on Sunday, Buterin decided to burn 410.24 trillion Shiba Inu tokens worth over $6 billion using today’s exchange rates.

“I’ve actually been impressed by how the dog token communities have treated the recent donations,” Buterin’s message said. “Plenty of dog people have shown their generosity and their willingness to not just focus on their own profits but also be interested in making the world as a whole better. I support all who are earnestly doing that,” he added.

So what?

But the crowds of TikTokers now hate Buterin. Damn it, we are here, so we brought hordes of hamsters into business, but what did we get? Dumps? Where are the millions in 5 seconds?

Remember, rookies. The sandbox is your home. You can play in it, go crazy, and do whatever you want. But sooner or later Dad will come and show everyone who put the light into the booth. Hamster booth.

Our friend and colleague Tony B continues the series of articles about models. No, not Tesla models, but more intelligent ones - financial ones. Subscribe to his Twitter and find out everything about Bitcoin! And there are some hilarious memes. The first part, by the way, is right here.

All models are wrong, some are useful. Part II: Gold ratio 51% - 49%

This is a really simple Bitcoin study on which I calculate the remaining days of the current Bull Cycle we are in based on the Top, Bottom and Halving of each Cycle. These parameters are effectively used to distinguish the Bull from the Bear Cycles. Tops are obviously where the Bull phase ends and Bear starts, while the Bottoms are where the Bear phase ends and the Bull starts.

** The 51%-49% Ratio and the important of the Halvings **

The focus of this study is the Bull Cycle. As you see on the chart there is a striking similarity on each Cycle. The phase from the Bottom to the Halving is 51% of the whole Bull Cycle while the rest (Halving to Top) consists the 49%. Practically we can claim that the Halving seems to be the middle of each Bull Cycle.

** So where are we now? **

Based on the above ratio and with the 3rd Halving scheduled on May 12th, 2020, we can calculate that the first phase (51%) of the current Bull Cycle will last around 520 days (Bottom made on December 15th 2018). The 49% which based on the previous two cycles has been the second phase should therefore last around 505 days, placing the Top of the current Bull Cycle in early October 2021! This means that there are around 600 days of Bull Cycle left!!

Of course there are and will be several other parameters that can influence the cycle (we saw that on the April-June 2019 parabolic explosion) but this is a good (and so far very accurate) pattern that long term Bitcoin investors can follow. It certainly answers the question "is it too late to buy?" though!

Interactive chart: tradingview

Dave Portnoy spent three minutes (almost) choosing a shitcoin for investment. Chose Safemoon. Why it? No one knows. He doesn't know himself. We will not comment on this.

Apparently Doctor Strange, in a drunken stupor, changed our reality to an alternative one at the beginning of 2020, but forgot to switch back.

And you...buy Bitcoin! 😉