NuffSaid Seb
NuffSaid Seb 1 minutes reading from Bitcoin

Altcoin News Update: Mining, BTCX, et al.

A few musings:

1. ATM what we are seeing (which is encouraging) is that lots of people think 16k is cheap for BTC

2. BUT: Don't think for a second, that it's over yet, contagion from FTX and AlamedaResearch collaps will emerge in the next days and weeks.

🧵1/4

3. We have not seen miner capitulation and we have not seen altcoin capitulation yet.

Sell pressure from miners is likely to overcome buying pressure in the next few weeks.

The speculation around altcoins is still way too high and fair values need to be established still. 🧵2/4

4.

If you think that cz_binance is completely innocent in the FTX collaps, think again

5. Both, crypto.com and Tether have smth shady going on. The former will likely collaps sooner, the latter once it's clear that they're not 100% backed!

I avoid like the plague! 🧵3/4

6. Finally:

Not your keys, not your crypto!

and Don't trust, verify!

Internalyze that shit... NuffSaid

🧵4/4

Yes, yes, sorry, I know it's internalize, not internalyze.... bee a long day...

This post is based on this twitter thread.

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