GM, and welcome to another edition of CoinStats Scoop! 🥂 Here’s an overview of this week’s newsletter:
Cheers to another successful week of life and crypto as we always move onwards and upwards! 💪 As for the market, it currently sits at a relative standstill as we wait for the next direction which is evidenced by the lack of movement in BTC & ETH. BTC tried twice to break through the key level of ~29k+ and unfortunately failed both times which ultimately culminated in a week where BTC gained 2.5% and ETH lost a measly ~0.5%.
As a result, BTC currently sits just below 28k and ETH continues to hang out in the mid 1.7k range as the market waits for its next direction whether that be a slight correction back down to ~25k or continued momentum that pushes BTC past 30k and ETH convincingly over 1.8k! 🙏
In the meantime while the market decides, we’ll take some wise words from one of crypto’s best thinkers! As is the crypto nature of open, global, accessible finance we’re lucky to get the thoughts of some of the brightest, most-engaged market participants in the space as they let their ideas and thoughts flow. Chris Burniske has been through essentially every crypto cycle and provided his thoughts in thread form Sunday morning for all of us to read!
https://twitter.com/cburniske/status/1640040132106387462?s=20
The entire thread is 12 tweets long, the opening two tweets are vital and reinforce what we’ve been saying at The Scoop for months now: the long term future for crypto has never been more clear. 🌞
While it was mostly a calm week throughout crypto prices, there were per usual some tokens that outperformed the broad market as the crypto market continues to expand it’s verticals and those tokens include:
GTC +34%, JOE +27%, OMG +26%, XRP +19%, LTC +11%, LPT +11%, RON +11%, XMR +8%, ADA +4.5% & LINK +3% 💪
And finally, Chris concludes his thoughts in the original tweet thread we linked above by saying what we’ve tried to echo throughout the history of The Scoop. While the market may be frustrating and down at times, we (crypto) eventually find our way! The walk (investing) is full of sticks and stones but if you look up (years from now) there are blue skies waiting. Chris provides a great reminder of what we’ve consistently preached, have patience, stay engaged, and the long term vision of crypto will handsomely reward you despite the number of bumps along the way! 🤑