DK Profile picture
8 Jan, 5 tweets, 2 min read
I think we look pretty bad, but I also think we are due relief. I know that‘s not helpful, but I kinda think after weekend shenanigans are over we follow tradfi again and I‘d be more inclined to lean relief rally than more doom. Not advice. Purely musings.
$38-41k is most stacked area with bids on bitfinex. If we fall through that area I think we see a liquidation cascade to $30k. I think mid term it‘s 70% likely we test that liquidity again. But it also is the best chance for any bounce. If there is one.
I mean this red line is pretty pivotal. Pun intended.
Imagine if the next leg down for this were a short squeeze 😱
First small test in this dump for the mini relief rally. If we can break above 42.4k I think we have a decent shot at 45k. Good night fam, don‘t make me wake up poor pls 🙏

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More from @dkcrypto13

5 Jan
Sitting right at the bitfinex buy wall. We break through this and 42k looks pretty fast… not advice Image
42.55k was the last bitfinex buy wall before 40.5k, so I got a small bid filled at 42.65k… small. Very small. Not advice. Not even small advice
Real test for $BTC will now come at $45/46k. If we can reclaim that I think we have every chance to see >$50k again. If we get rejected or don’t even get there, I think $40k and maybe even $30k are in play. Never advice you know the drill.
Read 6 tweets
2 Jan
2022 in crypto.

Pretty much every larger account that made a name trading is Bearish.

Funding is leaning negative (traders press shorts).

Everyone expects the Fed to kill the party & regulators to finish it off.

Everyone has learned crypto can only really rise if $BTC rises.
I am not sure.

I know the Fed is fighting inflation and has historically always caused a recession in doing so successfully.

I also know $BTC behaves like digital gold and gold itself is a pretty stupid idea & only really works when liquidity expands.
I also know, historically all of crypto has been extremely correlated to $BTC and its chart looks sh1t.

So these aren’t amazing conditions for a rally in crypto prices.

However, I have long held the view if crypto is to be an actual asset class, altcoins have to de-correlate.
Read 12 tweets
1 Jan
I am getting to a point where I cannot take #crypto haters seriously anymore:

- Coins with governance and revenue rights to a smart contracts aren’t scams. They are decentralized ownership aka equity
- It may seem absurd to have a start up valued at $100m fully-diluted but…
… that’s the point - “fully” diluted implies there will not be future (stock) issuance, so this number compares to maybe 5m$ valuation of a classic equity start up that will raise multiple rounds issuing new stock in the future
- #tether was not backed in 2017 and…
… very clearly was a criminal enterprise then. If only just for money laundering rules. But that should/will hit the people in charge. Pretending “tether isn’t backed” today and misinterpreting every other print because it fits your narrative is just dumb. Are they…
Read 15 tweets
30 Dec 21
Assuming you have $SOL sitting somewhere and you do not wish to sell it, but want to hold it and maximize yield, here is one thing that currently works like an endless #yield loop:

1) Split the $SOL 50/50 into @MarinadeFinance and @SoceanFinance - liquid staking for 6.75% annual
2) take your $mSOL and $scnSOL (the token you receive in exchange for staking) and deposit them as collateral on @solendprotocol receiving additional 1.8% yield on those

3) borrow $SOL from solend, which is being subsidized with $SLND rewards and has a NEGATIVE borrow cost of 5%
4) take the $SOL you just borrowed and rinse / repeat steps 1-3 above as many times as you dare

5) take the final $SOL (after the last repetition you dare to do) and deposit them as collateral on @TulipProtocol for an additional yield of 5.5%
Read 14 tweets
25 Dec 21
I have thought about it enough. Jack and friends dislike #web3 because it doesn’t have copyright protections (yet) and it threatens to break the decade old model of natural monopolies forming on the web once a firm has sufficient mass in an area.
It is true that VCs get great deals in #crypto atm & it is also true some try to flip quickly. But it is also undeniably true that people who participate in #web3 own a far larger share of it than in the case of web2.0. Airdrops alone are often 4figs+ & you control your data.
Look at what happened across #crypto: mainstays like bittrex, poloniex, bitmex and even uniswap to a degree already are rapidly replaced when a better product comes along, sometimes by people forking their code. Of course, if you are in web 2.0 you are scared as fck.
Read 5 tweets
18 Dec 21
Picked up a number of under performing, high quality protocols along with some of the most strongest recently, hedged it with low quality stuff. I think we are at the point where things are so low sentiment-wise it’s difficult not to see a pop. Low qual hedges will help otherwise
Too tired to provide more reasoning, but should echo my previous few posts
This is a part of the story. Lot’s of room with this and funding to squeeze shorts.

Santa Rally in stocks = santa rally in crypto

Uncertain of course
Read 5 tweets

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