Crypto underwent a series of coordinated attacks these last few months.

I wanted to take the time below to illustrate just how much was thrown at the market on a timeline, and then discuss some of my feelings on this...

Let’s dive in! 🥐
April 16th, 2021

A coal mine in Xinjiang flooded, damaging miners in the area and resulting in the #Bitcoin hash rate dropping by 35%.

This also brought up serious concerns from the Chinese government who began to hint at a ban on mining.
April 16th, 2021

Reports of Coinbase insiders and early investors selling roughly $5B of $COIN on its opening day broke, and headlines quickly spread

Updates to reports a few days later conveniently added background on a direct listing (excusing the selling for liquidity)
April 17th, 2021

Fxhedgers posts inaccurate headline claiming the U.S. Treasury is accusing several financial institutions of money laundering with cryptocurrency

Just 54 minutes after the tweet was made, this Twitter account managed to wipe off more than $288B from the market
April 17th, 2021

CNBC revives old news that India proposed banning #Bitcoin for transactions

The Supreme Court of India later refused to follow through with this legislation

Prices fall over 10% after it is posted combined with the tweet shown previously
April 21st, 2021

Turkey bans the use of #Bitcoin for transactions, after seeing a big drop in the Turkish Lira and a surge of people fleeing into crypto

Previously, Turkey has banned PayPal for use in online payment way back in 2016
April 23rd, 2021

President Biden suggests capital gains tax hike by nearly double what it was previously (20%)

However, swing state polls indicate Biden will instead put his focus on corporate taxes

Regardless, this attributed to a steep decline in #Bitcoin prices after
April 25th, 2021

The same Fxhedgers account from earlier made a tweet claiming his “sources” say that whales are selling a ton of #Bitcoin and aiming for as low as 21k

Prices fall more than 20% (following additional China miner news)
May 12th, 2021

Elon announces Tesla won’t be accepting #Bitcoin because of environmental concerns, leading to a sharp drop in price

Within just a few hours the price of #Bitcoin had fallen by more than 15%
May 13th, 2021

Justice Department and Internal Revenue Service open probe on Binance, targeting users of it for money laundering and purposes of tax evasion.

The announcement didn’t accuse them of wrongdoing, but rather just requested info

#Bitcoin fell by more than 20% after
May 16th, 2021

After a user brings up the possibility of Tesla selling their #Bitcoin over hostility, Elon Musk replies agreeing with: “indeed”

Unsurprisingly, this tweet resulted in another 7% drop a few hours after it was posted

(He denied selling just a day later)
May 18th, 2021

China bans financial payment institutions from the cryptocurrency business

This reiterated a ban from 2013, banning payment channels from offering services in crypto

A short time after this news broke #Bitcoin fell yet another 20% in a matter of hours
May 19th, 2021

Pope Francis (yes, seriously) makes a tweet claiming that #Bitcoin should be replaced “without delay” over environmental concern
June 2nd, 2021

State-run media outlets in China publish a series of warnings to their citizens about dangers in the use of crypto markets
June 4th, 2021

#Bitcoin falls more than 8% after Elon Musk tweets a break up tweet

...Because the market ignored his troll tweet later that “make up sex is the best tho”
June 7th, 2021

The United States government seizes $2.3M worth of #Bitcoin from colonial pipeline hackers, causing panic in the entire crypto market

Prices fell a further 7% after this news came out
June 26th, 2021

The United Kingdom says popular cryptocurrency exchange Binance is not currently allowed to conduct any regulated activities

However people failed to note that this had no impact on users trading experience because it was an entity separate from Binance
July 2nd, 2021

Thailand SEC opens criminal complaint against Binance over unregistered operations

They argue that Binance continues to operate without registration from proper authorities
There are tons of other things including Jerome Powell, “deflation”, IMF warnings, Cayman Islands, Singapore, Bitfinex + USDT, Okex + Hong Kong, CBDC, and much more that I couldn’t touch on for the sake of having room in this thread

This is all within the span of a few months...
If you’ve made it this far, you might have noticed the common theme I’m trying to get at here.

Reading over these & getting the deeper meaning of them tells almost a completely different story than when taken at first glance, compared to how the market reacted

(in most cases)
Whether it is issues of the environment, anti money laundering regulations, and/or Chinese mining centralization, this FUD is all being addressed one by one and will all soon be irrelevant.

Countries will make both historically bad and historically good decisions on #Bitcoin
China banned #Bitcoin because they saw it as a threat to the upcoming digital yuan, a currency which is the 8th most traded in the world making up about 5% of transactions (yes, also energy issues)

But #Bitcoin is only a $650B market cap.

This leads me to my last point...
You didn’t think the U.S. would be putting #Bitcoin on ETFs without first challenging misconceptions on the market, right?

This FUD is short term, setting us up for institutional adoption down the road.

#Bitcoin is ESG investing, & I wrote an entire thread on this topic👇🏻
TLDR?

There may be choppy weeks ahead, but we will have some serious movement upwards as institutional money & green #Bitcoin mining flows into the United States and we watch the greatest transition of hash power to ever occur.

We all know how quickly narratives change here.
Don’t know why this pic came out like that, apologies 👇🏻

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More from @CroissantEth

2 Jul
Time for a short thread 🥐

Disintermediation is one of the largest use cases for blockchain we have ever seen.

By cutting out all the middleman, many companies are able to increase profit (and typically user experience)

This is a common trend when old tech gets replaced...
In fact, many of the top companies in the world today operate at a sole premise to do just that!

Airbnb owns no property, but accommodates guests.

Netflix owns no movie theaters, but owns some of the largest selections of movies.

Uber owns no cars, but offers taxi services.
Spotify owns no music industry label, but cuts deals with thousands of artists.

Facebook owns no ad agency, but offers marketing + branding on their app.

Amazon owns no large contractors, but instead hires independent contractors like Uber to deliver their products
Read 5 tweets
1 Jul
Let’s talk a bit about #Bitcoin, the dollar, and gold

In this thread I will touch on highly complex topics & hope to tie it all together

Please stick to the end, it will be worth it 🥐

Before we dive in too deep, I’ll have to give you some quick background info on the topic...
Sound money...

What is it? Certainly not the dollar as we know it today.

The concept of “sound money” is best explained as a currency which has intrinsic value.

That is, if it weren’t a currency it would have inherent value whether as a means of trade, or store or value.
Think of things like #Bitcoin, Gold, Silver, & other fixed supply assets

Metals have been valuable for many years. This is because of their historical use for trade, purposes of hedging against inflation, & more

A long time ago, money was actually denominated in gold or silver.
Read 25 tweets
12 Jun
Many people believe that upcoming anti-money laundering & environmental regulations from the government will be the downfall of crypto

I am here to argue that it will lead to one of the largest “priced out” events to occur in the history of #Bitcoin

Why? Allow me to explain...
The first thing I have to discuss for this to all make sense is an acronym in finance called ESG.

Largely thanks to Joe Biden & the coronavirus, this concept of Environmental, Social, & Governance priorities is now being pushed for many investments

What does this mean?
Investment managers are now often inclined to invest in companies of a high “ESG score”

These investment managers are registered by the SEC

Publicly traded securities are favored by ESG score attributed to them by data analysts

This is already the case in an index from Canada:
Read 24 tweets
10 Jun
Last week I wrote about @elonmusk’s potential “end game” plan for #Bitcoin& the post blew up far more than I would’ve ever imagined

This has inspired me to write a follow up with some more info on how @elonmusk may be revolutionizing the energy market with $BTC

Let’s begin! 🥐
Earlier, I theorized that @Tesla may have a larger plan for integrating the Bitcoin network than many seem to understand

After all, why would a solar company invest nearly 10% of their cash in $BTC only for Elon Musk to tweet negatively about it almost right after?
The answer to this question is simple...

Tesla’s main business is in solar energy. This consists of solar roofs, panels, power-walls, utilities & much more

This energy can be monetized with a particular use case including $BTC. @CathieDWood explains this concept further below:
Read 27 tweets
1 Jun
@elonmusk has had a big impact on crypto recently, & because some of his actions have been a bit unconventional, I was inspired to dig in a little deeper to find out what exactly his “end game” is

& what I’ve found does not disappoint.

I’ll compile all of the info below 👇🏻🥐
This story begins a short time ago after Elon made the now-infamous tweet that Tesla will accept $BTC

$BTC rallied from this news, only for the hype to be cut short by complete reversal in policy from Tesla

Tesla will NOT accept $BTC for payments, citing environmental concerns ImageImage
This action led many to wonder why, just a mere few weeks after his company invested over $1B into $BTC, would he blatantly speak negatively about it?

Surely he has a reason to do so, right?

Well after taking a look at some hints left in his tweets, that appears to be the case
Read 25 tweets
31 May
With the “meme coin” hype blowing up I thought it’d be nice to have a bit of a refresher, & go over some of the cool projects with real use cases that are ACTUALLY being built on $ETH

All of these projects are breaking into trillion dollar industries...

Let’s begin! 🥐
1. @etherisc

With $LINK oracles, $DIP offers a simple & elegant solution to the trillion dollar insurance industry

Smart contracts automate claims, offering farmers coverage across the world

They were mentioned by the WEF for their unique use cases in a paper on digital assets
2. @AIRA_Robonomics

First a robotics team, their devs found home on $ETH for their plan to build out a network of IOT devices

$XRT has worked with Microsoft in an aim to make smart cities a reality in the 4th industrial revolution

They offer “robot as a service” technology
Read 25 tweets

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