Almost there

Your daily newsletter for December 20, 2018
Persist
“The sun is most beautiful as it's going away.
- Yasmin
We are only one day away from the Christmas weekend! 🎄 Hang in there, it's all gonna be worth it. 

Today in history (2007), Queen Elizabeth II became the oldest monarch in the history of the UK 👑; previously, that honor belonged to Queen Victoria. Queen Elizabeth II currently has a 66-year reign and is now 92 years old! 

In today's newsletter, we will be covering Coinbase launching "Coinbase Earn", OKEx launching a new no expiry date Bitcoin derivatives product and Ethereum founder Vitalik Buterin donating $300,000 to 3 blockchain startups. 

Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚

Close but no cigar 🚬
So close! We almost made it a 3 peat. 🤦‍♂️

Earlier in the day, BTC followed through with the bullish momentum from the past 2 days and spiked to ~$3,950 before losing some steam and dropping back to the ~$3,800 levels where it continued to remain for the rest of the day. It is still trading above its 21-day EMA line with RSI levels on the daily chart at ~48. Should BTC continue with this recent uptrend, it will face some moderate resistance in the ~$4,000 to ~$4,200 range. 🤜🤛

Total market capitalization currently stands at ~$123.1 billion, up a modest ~$0.4 billion for the day. Technically we did make it a 3 peat, albeit not a very convincing one. 😆 Most coins are seeing either gains or losses in the ~1-4% range. Notable movers of the day are BCH and WAVES, up ~18.3% and ~19.5% respectively. WAVES has been on quite a tear recently; just today, it made an announcement that it raised $120 million in a private funding round for its new project called Vostok. 💰


Paid to study 🤓
Coinbase is launching "Coinbase Earn", a system that will incentivize users to learn more about cryptocurrencies, by allowing them to earn 0x (ZRX) tokens for completing various educational tasks such as watching videos and taking quizzes. 🤑

Coinbase launched the program after discovering through surveys that for both customers and non-customers, “one of the biggest barriers for people to explore a new digital asset is the lack of knowledge about that asset.” It was also discovered that many people had a strong desire to learn about other crypto assets beyond bitcoin, "but didn't know where to begin". 😖

While the platform is currently invite-only, anyone can sign up on the waiting list. The platform also intends to add more support for other cryptocurrencies in the future. 

Diamonds are forever, but so is blockchain
Crypto exchange OKEx has launched a new Bitcoin derivatives product with no expiry date, dubbed the "perpetual swap", that allows investors to hold their positions indefinitely. ⌛

The product speculates on the future value of OKEx's BTC to USD index through swap contracts with a notional value of $100 equivalent in BTC. Traders can either long a position to profit from an increase in BTC’s price or short a position to profit from the decline in BTC’s price, and can do so with up to a 100x leverage. 😲

The perpetual swaps also come with both a “tiered maintenance margin ratio” feature to allow traders with open positions to adjust their leverage according to their risk appetite and market conditions, as well as a “mark price” mechanism to help traders avoid unnecessary liquidations at times of high volatility. 👌🏻

Help you help me 🤝
The creator of Ethereum, Vitalik Buterin, has just donated $300,000 in cryptocurrency to blockchain startups Prysmatic Labs, ChainSafe Systems and Sigma Prime. 💰

These 3 projects have each received a 1,000 ETH grant, and are all working to build Ethereum's next iteration, Ethereum 2.0. Sigma Prime and ChainSafe are both creating an Ethereum 2.0 client called Lighthouse, while Prysmatic Labs is working on Ethereum scalability. 🙌

Other news 📰
  • Coinbase is no longer seeking to trademark the cheeky cryptoccurency mispelling "BUIDL", and has dropped its trademark application with the U.S. Patent and Trademark Office. 🏳️
  • Crypto startup TrustToken, responsible for stablecoin TrueUSD, announced that its smart contract has passed 3 independent security audits conducted by Certik, SlowMist and Zeppelin, and was found with no vulnerabilities. 🧐
  • In a recent Bloomberg interview, crypto exchange Binance's CEO Changpeng Zhao called 2018 a “correction year” for crypto currencies while expressing optimism for the future of the industry. 🤑
Poll of the Day
On a scale of 1-10 (10 being most keen), how keen are you on Coinbase's "Coinbase Earn" program where you can earn cryptocurrencies for learning about them. 💭
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And...are you an overall fan of Coinbase? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being sorely missed), how much did you miss bullish days like these?" 💭

The average vote was 7.6. It does feel a little nice, admit it... 🤭

"Do you think this mini bull run will continue till the year's end?"

63% voted "Yes".
37% voted "No".

At this point, overall momentum still favors the bears so what we are experiencing now could likely be a dead cat bounce - a temporary recovery from a prolonged decline. The term is based on the notion that even a dead cat will bounce if it falls from a significant height. 😂 As such, it is important to see if BTC is able to find its way past the ~$4,000 to ~$4,200 moderate resistance zones to be able to better access the situation. Nonetheless, it's still nice to see the sizable recovery - it's been a while since we've had days like these. 👍

"Why or why not?"

You guys said:

Well since the market has been in a steady decline this year, it's about time bulls take over for a bit. - Momentum is still with the bears, take caution! 
Just don’t think the bottom is in yet if it is I missed it, wife demands a magical Christmas 🎄 🎅 in south Florida like most partners hard to please lol, ps I’ll try and use more emojis to cover you if you start using less😉🤜🏻🤛💯🦠 - Hahahaha, man you made my day with this comment. I have been using less emojis, so glad you've got my back bruh. 👊😎💪😂 And with regards to your wife, there are many ways you can make it a magical Christmas. 😉
Every day the crypto space is gaining traction. Alternative markets to Securities. - I don't doubt that prices will continue to rise in the grand scheme of things. The question is whether we have found the floor yet. 🤔
Ethereum has no price support point - The poor coin is 93% from it's all time high of $1,390 back in Jan. 😢
We are in elliot wave 4... therefore short upside correction. And after that wave 5 downwards will come - Unfortunately, this is very possible. 
Dead cat bounce. - A likely possibility we cannot discount. 
I'm betting on BTC down to just over 2000, and I'm an optimist.
Why I dreamed it and it's already necessary, do not you think? - We are still in a bearish market, so chances are we will go down further. 📉 MACD indicators on the weekly chart indicate we might not be quite done yet with the bear run, so until we see some convergence I would not be too optimistic. 
With the boost in RSA & moving average & then all the talk in the news we should see it carry into 2019 !! - We're all certainly hoping so!
Nature of the beast. There's up and then there is down. There is down then there is ... 🙂 - 😉
Wall St. traders might stop buying put options on the Bitcoin futures market because they are worried about the phony rhetoric concerning Bitcoin going down further, which they are likely responsible for, at least initially. - Interesting thought. 🤔
I just think this time of year is generally bullish and we have got the ball rolling this week. Maybe it won’t go past 5k though. Who know’s though. - It could be an end of year Christmas rally 🎅
Technical driven short term correction - My money is on this too. 
Instinct tells me it will continue.. but am not sure & i don't think anyone has the answer. i am spending my allocated crypto time to learn more on the current projects .. and am revisiting the icos / investments which i did & go wrong. a lot of learn in the space, still being i think we are still early & will eventually benefit a lot. - You are absolutely right. It is better to place more emphasis on learning about the underlying progress of the space, instead of price action. Kudos to you! 👍

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
See you tomorrow!
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