Sometimes crypto reports come in under the radar and never seem to gain that much traction (despite how insightful it may be).
One such report is the H1 Coinbase institutional report.
In it they give an in-depth look at how the institutional landscape is shaping up. As a company that is at the coal face of institutional demand, their research and opinions matter. It helps us to determine which way the wind blows for the coming 6 months.
It’s a pretty long report, so I have decided to distill it into an easy to digest video!
In the video, I go through some of the most important data in the report and analyse their findings. I also give some of my own commentary and analysis about what this could mean for the crypto markets going forward.
On top of that, I do have some of my own predictions about what we could be seeing in the coming months. You guys can watch that right here.
📊 Portfolio Update 📊
Took a bit of profit in some of the alts that have been performing well recently. This includes the likes of REN & ADA. The proceeds from this sale are being kept 50/50 in PAXG & USDC as dry powder as I scout for additional opportunities.
There are a few gems that are on my radar which I plan to be covering in the next few weeks. I will keep you guys updated in my only official telegram channel.
ETH 29.32% | BTC 26.58% | SOL 10.21% | ADA 8.85% | PAXG 4.28% | USDC 4.17% | DOT 4.01% | INJ 3.05% | RUNE 2.76% | ATOM 1.90% | YFI 1.70% | MATIC 1.53% | LINK 1.35% | LIT 0.29%
📈 Thoughts on Market 📈
The big money is back in town. The total market cap of all cryptocurrencies has pushed past 2 TRILLION dollars. This is a huge milestone to reclaim and it will be even bigger once we start seeing new all time highs across the board.
We’ve already seen a few first movers in this regard: Cardano, Solana, and Terra are just a few examples. It just so happens that these were 3 of my 5 top altcoin picks for the rest of the year, and you can learn about the other two by watching that video if you haven’t already.
Speaking of Solana, you’ve probably noticed that a lot of cryptos in Solana’s ecosystem have been rallying in conjunction with SOL. One of these is Audius which I covered last week, and another one is a cryptocurrency called Arweave.
Arweave is a decentralized storage solution similar to Filecoin, and it’s actually where Solana stores all of its blockchain data as well as all of those Degen Ape NFTs that people were buying last week. The AR coin has consequently exploded, and I know it’s only a matter of time before you guys start asking about it. So I’ve decided to get ahead of the curve by making a video about it this week. Be sure to stay tuned for that.
If you’ve been watching the charts for Bitcoin, you’ve probably noticed that we are quickly approaching a golden cross (when the 50 day MA crosses the 200 day MA from below). This is almost always a signal that a market is headed for new all time highs, so if we hit that threshold we’re going to see a lot of activity across the board. However, I have a feeling this golden cross is going to be a bit of a contrarian indicator and here are a few reasons why.
For starters, regulators are closing in on crypto. SEC Chairman Gary Gensler was very vocal last week about cracking down on DeFi and it’s possible that stablecoins could be a part of that mix. If you watched my video about this, you’ll recall that the SEC is asking politicians for more power to police cryptocurrencies.
Initially the soonest this could have happened was late September when US politicians all return from recess, but it looks like they will be assembling this week to try and rush through those two multi-trillion dollar spending packages – one of which is of course the controversial infrastructure bill.
To quickly recap, the infrastructure bill contains a tax provision that requires cryptocurrency “brokers” to collect KYC for their users for tax purposes. The problem is that this definition is so broad that it could apply to almost anyone in cryptocurrency, including miners, developers, and possibly even certain users. Regulators have come out and said that miners and developers will not fall under this umbrella, but I’m not one to take a politician’s word on anything.
Even so, the worst case scenario of a crypto crackdown is unlikely to happen this week even if the infrastructure bill is passed. This is because we will still have to wait 10 days for the US president to sign it before it becomes law. There’s even a possibility that the voting could be delayed until the politicians return from their summer recess.
In any case, remember to factor in the macro going on in the background. And I’ll be doing a video this week about all the different bullish and bearish developments that are planned to happen (or could possibly happen) in the coming months.
🌎 Adoption on the Rise 🌎
There has been so much going on in the crypto space over the past few weeks that we can sometimes lose sight of the forest for the trees.
However, this week I was able to take a step back and see the bigger picture once again. That was thanks to the release of a report by Chainalysis that looked at broader global crypto adoption.
This was a really fascinating report that used an index to analyse the growth of crypto adoption in a number of countries around the world. Based on this index, global adoption has grown by over 2,300% since Q3 of 2019.
This grassroots crypto adoption has also coincided with an explosion of trading volume on P2P marketplaces. Some of the countries with the most growth in usage of these platforms include Kenya, Vietnam, Nigeria and Venezuela. What’s even more surprising than this is the fact that we saw declines in these volumes in countries such as China & the USA.
There are many reasons as to why these countries saw so much adoption in crypto but they are all tied to the benefits of its use as a medium of exchange. In Vietnam, it’s down to remittance flows (cheaper to send Bitcoin), in Nigeria and Kenya, it’s down to buying imports. In Venezuela, crypto is helping people survive in a hyperinflationary environment.
And I happen to think that adoption is only going to be increasing thanks to more acceptance by governments in the emerging world. For example, we all know that El Salvador is about to make Bitcoin a legal tender. On the 6th of September, it will be the first country in the world that will be making such a move.
The choice of whether to use Bitcoin in the country will be optional so it will be interesting to see how many people actually start transacting with it. Could it go the same way as countries like Nigeria or Vietnam where people embrace it with open arms? Or will it be a damp squib that was nothing more than a PR stunt.
It won’t only be our eyes focused on this rollout. There are also a number of other South American countries that are monitoring the impacts of this.
One of these is Argentina whose president was recently asked about crypto. He acknowledged that its rise was inevitable and that it had the broader potential to “nullify inflation”. Quite telling from a president of a country that is seeing inflation of over 50%.
So, while cryptocurrency does have regulatory headwinds in countries like the US & China, the rest of the world is picking up the slack. Moreover, this is the fundamental adoption that cannot be stopped. It is something that I covered in my video a few months ago on India & Nigeria’s crypto bans – both countries that have continued adoption unabated.
Interest in cryptocurrency will wane when prices stagnate. The amount of people investing in a bear market will be a fraction of what it is now. However, if you are using crypto in your daily life, the markets are of lesser importance.
By weaving cryptocurrency into the fabric of their monetary systems, these countries are making it a lot harder for governments to rugpull us with regulations.
🔝 Top Newbie Tips 🔝
We seem to be entering the most difficult phase of this bull market. I know this sounds strange; prices are going up, what’s so difficult about that? Well, have you taken the time to plan your exit strategy? More importantly, do you have the mental fortitude to stick to your exit strategy even if you sell and prices keep going up?
This is where most traders fail…
With this in mind, it is absolutely crucial that you craft your exit strategy if you haven’t already. You’re going to have to do this for every altcoin you hold, and that’s the difficult part. Each altcoin has its own unique updates going on.
For Bitcoin it’s the possibility of an ETF. For Ethereum it’s the upcoming move to Proof of Stake. For Cardano it’s the introduction of smart contracts. For Polkadot its the parachain slot auctions. For Litecoin it’s the implementation of Mimblewimble, and so on. These are things you must absolutely know going into the next few months, because the top might just pass you by if you’re not paying attention. Luckily for you, I also happen to have a video about how to plan your ultimate altcoin exit strategy.
Further to this point, it helps to be familiar with the basics of technical analysis. Believe it or not, I’m actually not the biggest fan of TA because what you see can, and often does, contradict itself depending on the timeframe and the pairing you’re looking at (pairing with BTC vs. USD for example). However, when the market is getting very greedy and emotional the way it is now, technical analysis can become very powerful for shorter term trading. You can get started by watching my first technical analysis tutorial here.
There may also be tax implications for taking profits right now. What implications you personally have will of course depend on where you are resident and the local tax treatment for cryptocurrency. I have covered this in a previous video on taxation.
Last but not least, cover all of your bases! You may or may not have seen that Binance is requiring KYC for all users now. I reckon it’s only a matter of time before other major offshore exchanges start following suit. So, don’t bank on lax exchange controls to save you should crypto really go to the moon.
Some of the less reputable offshore exchanges may throw up excessive KYC requirements to keep a hold of your funds (the HitBTC playbook). So, if you wanted to pre-empt this then you could set yourself up with an account at a well regulated onshore exchange. There is quite a lot of selection out there at the moment but I covered 5 of the best in a recent video of mine.
📢 New CoinBureau YouTube Channels 📢
I’ve got an exciting announcement to make today. As many of you know, my team and I are on a mission to spread the good word of crypto to all four corners of the globe. But there is one major problem with that; not everyone speaks English. That is why I’ve decided to launch CoinBureau Japan!
Here, you can find dubbed versions of my videos in Japanese! So, if your first language is Japanese then you might want to take a look at that.
But, that’s not all!
Quite often, I get requests from viewers that would like to see some videos from behind the scenes. Some less polished videos that give the viewer a better perspective of exactly what is going on behind the scenes at the Bureau.
So, I have also launched CoinBureau Clips which is a channel dedicated to more bit-sized versions of my content. Not only will it include behind the scenes action, but it will also have content from my other socials like TikTok and instagram. I will also be taking shorter bits from my main channel and posting them here.
So what are you waiting for?
Show the Bureau some love and hit that subscribe button on my new channels today! I’d super appreciate the support!
🇯🇵 Subscribe to CoinBureau Japan
🎥 Subscribe to CoinBureau Clips
🔥 Deals of The Week 🔥
I am sure all of you are aware that those crypto markets have been on a tear in the last week. Indeed, it seems as if we could be on the verge of a fresh alt rally this September.
Of course, regulators are making it more difficult to use our exchange of choice. So, if you are only using one exchange, you should definitely consider expanding your options.
So, which other options are there for stacking those alts?
📈 FTX: This exchange is crypto’s rising stars and it is operated by one of the most successful crypto VC’s in the space; Alameda Research.
It is perhaps the fastest growing crypto exchange out there. Bank and card deposits are supported in numerous currencies like USD, EUR, CAD, GBP and AUD.
Even better, there are around 100 altcoins on the shelves over here and the fees are highly competitive. In terms of additional features, you get access to staking, prediction markets and a plethora of exotic markets.
I’ve been able to secure you guys a special deal. If you sign up through the Coin Bureau, you’ll get your first $30 in trading fees for free! After that, you’ll get a 10% trading fee discount for life! This stacks on top of any discounts you get for holding FTT tokens – great for optimizing your exchange fees.
Wanna see what the fuss is all about?
👉Sign Up To FTX & Get Your First $30 In Trading Fees For FREE + 10% FEE Discount!
🇺🇸 If you are based in the US then you’ll probably be interested in my recent FTX US guide! The good news is that I’ve been able to get the same sign up deal for both US guys and people for the rest of the world.
🇨🇭 Swissborg: The Swissborg app is certainly worth giving a try if you are based in Europe or the UK.
What’s cool is that they support a ton of different fiat currencies like GBP, CAD, EUR, ZAR, DKK, SGD, SEK, CHF, NOK, PLN, RON, HUF, HKD, CZK or ILS. That means you can buy crypto and altcoin with fiat, without nasty exchange rate fees!
Want to see how easy it is to buy crypto with fiat here? Well, just watch my videoshowing you exactly how to do that on Swissborg!
Also, if you deposit €50 you’ll get up to €100 FREE in CHSB tokens! So, you might want to take advantage of that offer.
👉 Download Swissborg & Get Up To €100 FREE
🗞️ Crypto News Focus 🗞️
– This Is Why We Need BTC – Britney Spears has been using Bitcoin since 2014 to hide purchases from her dad!
– Kevin O’Leary Predicts The Future – Shark Tank star says that financial middlemen will be left shining shoes when DeFi takes their jobs.
– OnlyFans Raunchy Content Ban – Is it an opportunity for crypto?
🔮 Video Pipeline 🔮
- My favorite crypto YouTubers
- Top 5 mobile crypto wallets 2021
- Cryptocurrency governance: Why does it matter?
- Bullish & Bearish events coming up in 2021!
- Arweave review: Is it worth it?
- My ultimate guide to FTX
- Futures ETFs: Not What They Appear!
🏆 What’s New At CoinBureau.com This Week? 🏆
Sorry folks, there is nothing new on CoinBureau.com this week. That’s because the team has been hard at work on some updates. More news to follow soon here…
That’s about it for this week’s newsletter. I do want to thank each and every one of you for supporting the Bureau and our quest to provide the best crypto education and serve the crypto community in the best way we can. I hope that my new YouTube channels, CoinBureau Japan and CoinBureau Clips, show you that I am deadly serious about following up those words with actions.
Anyhow, I hope you learn a thing or two from my latest video and thanks again for all your support!
Guy your crypto guy
Disclosure: Authors may own cryptoassets named in this newsletter. These are unqualified opinions, and a Coin Bureau newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor.