Welcome back to my weekly insider’s guide to everything crypto! This week, I’ve got ten juicy points for you to keep your eyes on in the ever-exciting crypto markets. So buckle up, and let’s dive into 10 things I am watching this week:
- BUSD selling might continue, pushing BTC up even more. If BTC wells into TUSD, we could see a price drop. It’s a crucial aspect I’m watching closely.
- Binance is facing intense scrutiny by the DoJ. Will it lead to criminal pursuit? Not confirmed yet, but Binance’s move into Bitcoin might hint at insider knowledge, as they may want to get their assets out of reach.
- The $600 million DCG loan due on May 10th is a significant uncertainty to monitor next week. Could it shake up the crypto world with a DCG Chapter 11?
- Meme-coin mania! Will the hype around Pepe and other meme coins continue? Read my contrarian view of the week further down for more insight. Our group’s venture fund has invested $1 million in Ordinals/BRC20 decentralized infrastructure. So, while I believe the Memecoin hype may continue longer than most people think, my fundamental excitement lies in the actual infrastructure beneath it.
- Shifting to the general markets: With last week’s 25bps rate hike by the FED and a regional banking crisis, regional bank stocks have been in turmoil. For example, PacWest Bancorp’s stock price plummeted more than 50% on Thursday. They recovered on Friday, but uncertainty persists.
- Keep an eye out for April’s US inflation readings with the Consumer Price Index (CPI) on Wednesday. Prices were likely up 4.5% YoY, at the slowest pace in two years. The key, however, is that inflation starts dipping beneath interest rates in the US.
- The Bank of England (BoE) will hold a key meeting on interest rates on Thursday. The interest rate is expected to be raised by 25 basis points to 4.5%, following the US.
- Company earnings are slowing down. Apple had key results last week, raising their dividend and stock buyback. Quite bullish. This week, watch out for earnings from PayPal, Airbnb, The Walt Disney Company, Electronic Arts, and automakers Toyota and Honda.
- MetaChain’s Testnet may be launching if all goes well. It’ll be a game-changer, allowing builders to create scalable dApps for Bitcoin and Ethereum simultaneously, combining BTC’s reliability with ETH’s possibilities.
- With all the uncertainty, gold hit an all-time high. I expect this rise to continue.
My Contrarian View of the week:
Meme-coin hype may continue for longer than most people expect. Reason: Ordinals & BRC20 are new tech, and at the moment, it looks like people are willing to take risks. More people will join the rally, in my opinion. I would be cautious!
AI productivity tip of the week
I’ve started using lots of AI tools to increase my productivity. So, I thought, going forward, I’ll give you my key AI tool of the week. This week: Use Bing for free chat GPT-4 with “creative mode” and free picture creation mode… not as good as GPT-4Plus and Midjourney 5.1, but it’s worth checking out.
Wishing you a fantastic week in the crypto world! Remember to stay tuned for next week’s insights.
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