Daily Crypto NewsEDITION #223, 26 May 2021

I have Bitcoin!

Hey #Moni Maker 🎸

Today, in 1923, the first 24 Hours of Le Mans race took place in France. This race is also called the "Grand Prix of Endurance and Economy", because the team must strike a balance between speed and accurate driving in order to drive the whole day and come first.

Cryptocurrencies also teach us how to be enduring at a distance. And, as a rule, the winner is the one who knows how to wait for the moment. Even if the expectations take years.

But now it's time for a pit stop and reading the Digest. Let’s go!

Fears of a global debt crisis have led Ray Dalio, founder of hedge fund Bridgewater Associates, to stop doubting Bitcoin.

According to Ray, in the current environment, the first cryptocurrency looks like a more attractive store of value than gold.

“Personally, I’d rather have bitcoin than a bond” in an inflationary scenario, Dalio said during an hour-long conversation with CoinDesk Chief Content Officer Michael J. Casey.

In addition, he argues that the US dollar is on the verge of devaluing to levels last seen in 1971. And China is threatening the dollar's role as the world's reserve currency.

So what?

Ray Dalio is also an author of good books + he has a YouTube channel on which there are a lot of useful materials, for example, about how the economic machine works.

Today maestro Tony B. will tell us what RHODL is and why this indicator is in a better position than others.

Time to wiggle our main muscle called the brain. By the way, this market dump f*cked our brains and made them soft. It’s time to change the situation! Let’s go!

All models are wrong, some are useful. Part XI: RHODL Ratio

Indicator Overview

This indicator uses a ratio of Realized Value HODL Waves.

In summary, Realized Value HODL waves are different age bands of UTXO’s (coins) weighted by the Realized Value of coins within each band.

The Realized Value is the price of UTXO’s (coins) when they were last moved from one wallet to another.

RHODL Ratio looks at the ratio between RHODL band of 1 week versus the RHODL band of 1-2yrs.

It also calibrates for increased hodl’ing over time and for lost coins by multiplying the ratio by the age of the market in number of days.

When the 1 week value is significantly higher than the 1-2yr it is a signal that the market is becoming overheated.

How to Use this Indicator

The indicator is able to identify with great accuracy the price high of each of Bitcoin’s previous macro cycles.

It identifies the market top to within a few days accuracy.

RHODL ratio entering into the red band signals that the market is approaching the top of its cycle. This has historically been a good time for investors to take profits in each cycle.

Unlike other on-chain indicators, RHODL ratio does not give a false signal of a cycle high in April 2013. This gives it a unique advantage over other on-chain indicators.

Interactive chart: lookintobitcoin.com

If you did not understand something, you have questions, suggestions, comments, or you just want to express your respect to one of the main bitcoin maximalists of the CIS aka Tony B, you can always fly into our chat and tag the author @tony_crusoe.

Tony B.'s Twitter lives here at this link. Even if the ideas of bitcoin maximalism are alien to you, Tony's work will give you all the knowledge you need about bitcoin in order to better understand the first cryptocurrency and can make a little $ on it, young speculator :) So follow!

Twitter user itsALLrisky expressed the opinion that Elon Musk is promoting DOGE as one of his companies.

To which the Tesla CEO himself replied that he is not an official person of DOGE and can influence the meme-coin only to the best of his ability.

So what?

Mixed feelings. On the one hand, this is all fun and cool, on the other, Musk continues to lose the street credibility of cryptocurrency streets.

A tricky outplaying or just a bipolar episode?

Data from the analytical platform CoinMetrics show that the total capitalization of the stablecoin market exceeded $ 100 billion for the first time.

USDT - $ 60 billion

USDC - $ 20 billion

BUSD - $ 9.8 billion

DAI - $ 4.1 billion

So what?

It’s not a big surprise during the bear market. We in the editorial office of MoniTalks also divided into two camps: someone went stable, someone continues to HODL.

But how did people live without stablecoins before?…

The mustwatch (maybe) vid during these times. Maybe you won’t agree with some statements. But maybe…

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