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  • Social Media Spotlight: 10/22/21

Social Media Spotlight: 10/22/21

Starting off the weekend the right way - by directing your attention to the exploding world of crypto!

Happy Friday! 

We’ve had a very full week of posts containing insights, analyses, and price predictions. I want to start off the weekend with a casual one! I’ll be calling out my favorite social media posts regarding cryptocurrency.

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In this post, we’ll spotlight:

  • Bitcoin

  • Ethereum

  • Chainlink

Small but important reminder that price predictions shown in any of these posts don’t necessarily mean I fully endorse them or have done the proper analysis to confirm them.

Just sharing interesting things that peaked my interest!

Bitcoin (BTC):

Believe me - I love “altcoins” and many of them will likely outperform Bitcoin for the rest of the cycle from its current price. However, Bitcoin is king. There’s no two ways about it. Bitcoin is the trojan horse and always leads. Bitcoin is also the key for crypto technical analysts to make proper “market predictions.”

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To start out - I have no idea who this guy is - but I loved his comments on Gold vs. BTC. Gold is hovering around the same prices that it was in 2012-2013, meanwhile BTC just surpassed Facebook (FB) in total market cap and is gunning for the Top 5:

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This is also incredibly fascinating to me. Bitcoin seems to be a similar, condensed trend of gold’s run in the 70’s from ~$40-$850.

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… however, Bitcoin has an incredibly strong long-term trend that nothing compares to:

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Have always appreciated Peter Thiel’s words of business wisdom.

If you’re unfamiliar - he’s co-founder of PayPal (PYPL), co-founder of Palantir Technologies (PLTR), and the first outside investor in Facebook (FB). I’m not saying I take his words as Gospel… but c’mon. Also if you’ve ever heard me say the phrase “going from zero to one” - he pretty much coined this through his book!

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Ethereum (ETH):

While Bitcoin is #1, Ethereum is the quintessential open-source blockchain - very deserving of that #2 slot. It allows developers to build and publish smart contracts & decentralized applications (dApps). If you’re clueless about ETH, here’s a great resource to learn more.

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Can’t get enough of market cap reflections - mostly because they provide incredible perspective. I don’t fully-endorse the “anti-bankers” sentiment in crypto. I formerly did corporate finance and have worked with individuals from all of the big banks. However, I believe that the banks that don’t adopt and implement blockchain technology to an extreme extent will sorely regret it.

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Chainlink (LINK):

Finally, Chainlink is an investment that I’ve held for quite some time. I originally began accumulating this gem when it was well under $1 and have held all of it ever since. Chainlink is the most widely used oracle network, which allows any blockchain to access off-chain data and services.

It’s an entirely over-simplified analogy… but I like to think of BTC as the new “computer”, ETH as that computer’s necessary “operating system”, and LINK as the “internet” - critically and seamlessly connecting it all to the outside world.

I view a bet on Chainlink as a bet on decentralized ledger technology (DLT) as a whole.

Here’s a couple of exhaustive explanations of Chainlink if you’re interested: 1 , 2

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That’s 881 integrations and counting. Last time I checked, Chainlink’s closest competitor - Band Protocol (BAND) - had under 90.

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No clue who this guy is but it’s always nice seeing a lofty price prediction from someone that isn’t a “LINK Marine”.

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CEO and Founder Sergey Nazarov often likens banks adopting blockchain and DeFi to two decades ago - when banks needed to adopt the internet or face being left behind.

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Excited for the months to come.

Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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