I hope you’re enjoying the bank holiday as much as you can during the lockdown. With the long weekend, and the highly anticipated “halvening” just a few days away now, I thought I’d send you something special.
This is an issue of The Fleet Street Letter Monthly Alert I wrote at the end of January regarding the upcoming halvening that – all being well – shall occur early on Tuesday morning. It summarises my views on what bitcoin truly is, and what the upcoming event really means.
I called it “Moon or Bomb” – crypto parlance for whether the price of BTC will skyrocket or collapse post-halvening. There are arguments either way for this, though I generally err on the bullish side.
Bear in mind that this was written before the WuFlu spread into the financial markets and we had the deep crash in global stock prices when market sentiment was uber-bullish. As we explained in yesterday’s note, and as we reaffirm in this issue, BTC is highly correlated to social media stocks which is due either to its similar popularity with the same demographics, or the function of the network effect. This correlation could be very dangerous indeed for bitcoin if the worst is yet to come – but then again, now that we’re all bored in lockdown, the social media companies are making out like bandits…
I’ve redacted a small section near the end which notes my favourite altcoins. If you’re interested in that sector of the crypto market, I’d point you in the direction of Sam Volkering, who will be hosting a halvening event next week where he takes a deep dive into the space – keep an eye out for it.
But in the meantime, I hope you enjoy this glimpse into what we do over at The Fleet Street Letter Monthly Alert. Click here to read the issue.
Wishing you a good weekend,
Boaz Shoshan
Editor, Capital & Conflict
For charts and other financial/geopolitical content, follow me on Twitter: @FederalExcess.
Category: Uncategorised