CryptoCobrex

Putting money where our mouth is, we increased our $LINK exposure by 10% at $5.76 to a total of 20%!

We will keep slowly DCA into the weakness, if the market keeps dipping!

As Warren Buffet said: Be greedy when others are fearful!

We will be betting big that $LINK will be top performer of the coming Bull Run!

What does that mean going forward? As supply gets drained from exchanges and there's max panic in the market where most of the panic sellers already sold that is usually where we see market bottoms.Fear based holders being washed out of the markets leaving market with mostly long term holders. 

With liquidity drying up I believe this can actually create big moves upwards in the medium, long term.  

That being said we need to take into consideration that FTX collapse might have a bigger ripple effect with other exchanges going down. Besides that it also caused huge loss of confidence in crypto which is bad for demand side.

But again FTX is not Bitcoin which is still working as it supposed to, again proving that decentralization is the key.

This might create a lot of new Bitcoin maxis, at least until the markets stabilize.

Historically the best time to buy Bitcoin was when its 70%, 80%, 90% down from all-time highs with peak fear and on-chain fundamental factors flashing oversold. And we kinda have all of those right now.
Can we go lower? Yeah... it is impossible to pick the exact low but this feels very muchlike 2015, 2019, 2020 situations. Only difference we have is the potential contagion effectof FTX. I still believe we are very close to the bottom. 

The FTX hacker is dumping Ethereum and swapping big amounts of ETH into RenBTC. 

Donald Trump is back on Twitter.

US Senator Josh Hawley demands top Democrats and Biden officials to release emails regarding FTX, Alameda Research and Sam Bankman-Fried.

Update:

After a war between Binance Founder CZ and FTX founder Sam, the news broke out that FTX is insolvent & stopped withdrawals! Binance then came in and said it agreed to buy FTX pending due diligence.

Bitcoin dropped under $17.000, taking most of the alts down double digits %!

While everyone is panic selling, we will be slowly buying into the fundamentally strongest projects. Maybe the bottom is not yet in, but the best times to buy historically, are when the markets are red and people are panicing.

We entered the market with 10% of our structure today! We only bought one coin and that is $LINK. There are few reasons for that: 1. The chart looks bottomed out for some time already, 2. In december there is a huge catalyst which could push the price upwards - staking, with CCIP to follow soon! 3. Founder of Binance tweeted that every exchange should be doing proof of reserves, which would return the trust in the centralized exchanges! $LINK already offers proof of reserves as a product, so if the biggest exchanges started using them, that would be huge!

We got job reports which were higher than expected but the bad news were quickly softened by unemployment data which showed unemployment increased to 3.7% when 3.5% was expected.

Stock markets dropped after taking in hawkish FED plans for the future interest rate hikes.

Crypto markets are holding really strong with many of the altcoins making huge gains lately.

Many influencers are already calling that bull market is starting which is not really good news 🥶

We have inflation data next week on 10th November which will tell us what we can expect moving forward. Pay close attention.

We will stay in stables $USDT until we get trend confirmation.

Bitcoin and crypto markets are holding really strong despite the drop of most major tech company stocks and yesterday’s huge 20% drop of Amazon after earnings miss.

European Central Bank hiked interest rates by 75bps and saying this is not the end of rate hikes. They’ve also decided to scale back support for European banks.

U.S Core PCE came today in at 5.1% with 5.2% expected, however still higher from last months 4.9% meaning inflation isn’t increasing as much as analysts expected but it is still not slowing down.

Most important thing to watch now is FOMC meeting on 2nd November which will make more clear picture going forward.

Keep watching DXY and stock markets and expect volatility in crypto next week.

Overall earnings from this week have been disappointing, which is why Google and Meta (Facebook) dropped big. Today we have Amazon and Apple earnings which are important for the markets and will tell us near-term future of the markets. 

Looking at all that is happening the two scenarios we mentioned before this hold.

1. Current $19k BTC zone acting like $6k BTC zine we had in 2018 which broke down 50% to the $3k.

2. Current $19k BTC zone serving as accumulation range we had in 2015 meaning if it holds up and break above $25k we go way up.

Both scenarios still have 50/50 chance of happening.

BUT after FED came out with the news that they are feeling uncomfortable with the speed of their rate hikes, hinting on slowing down and potentially pivot tells us 2nd scenario, 2015 accumulation zone is more likely. We need to wait for FOMC on 2nd November to be sure.

Bitcoin is holding up strong at $19,000

When we see that there are two scenarios that comes to mind for crypto market's future.

This $19k range might be like the $6k BTC zone we had in 2018, where it held $6k range for over 6 months just to eventually broke down to the bottom of $3k - $4k.

Second scenario we might see this $19k level as 2015 accumulation range where if this does hold up and break up above $25k bull market starts again.

Earnings release that came out from big banks and netflix were okay, a lot more earnings coming out this week.