Hello everyone,

The aim of this letter is to inform you about the current state of the cryptoasset market, but also about recent news in the field. This letter is not an investment advice, but only a sharing of my personal point of view.

News

A Venezuela's international airport to accept Bitcoin payments (BTC). Faced with hyperinflation of the national currency (Venezuelan Bolivar), Venezuelan businesses and citizens are turning massively to digital currencies, notably Bitcoin. Venezuela is the 3rd country in the world with the highest adoption of crypto-assets, according to Chainalysis. Inflation in this country is estimated at 1,600 % in 2021; for an order of magnitude, in France, we're at 2.2 %.

The exodus of Chinese miners forced rapid distribution of the hashrate of the Bitcoin network. In a nutshell, the computers responsible for securing the Bitcoin network moved to the United States because of mining bans in China. Today, the United States now accounts for 35 % of the world's hashrate. For information, France represents 0.20 %.

Crypto-asset trading platform Binance has literally been harassed by various regulators around the world for several months. To appease the financial regulators, Binance announced in September that it would choose a clearly defined headquarters. It would appear that his choice was Irelandalongside the GAFAs (Google, Apple, Facebook and Amazon).

A bitcoin ETF (an investment fund whose objective is to is to replicate the performance of a given index, in this case BTC) could soon arrive in the next 3 weeks. With the SEC obliged to respond to numerous requests, here are the potential approval dates: October 18, 19, 25 and November 1. Should an EFT be approved, we can expect an immediate speculative rally.

The Swiss bank SEBA Bank has decided to offer yields on crypto-assets on behalf of its wealthy institutional clients. This institutional-grade solution enables clients to earn interest rates on their deposits in Bitcoin (BTC) and Ethereum (ETH).

Will we see today's traditional banks becoming the custodians of their customers' crypto-assets in tomorrow's world? It's a possible alternative that seems more likely than their disappearance.

Technical & Fundamental Analysis

Bitcoin price over 1 year, since August 2020

The Bitcoin price at the time of writing is 57,500 $. This is close to its peak of 64,804 $ per bitcoin on April 14.

If the 64 k $ resistance is breached, we'll see the start of a bullish rally lasting several months. In the meantime, if the 52 k $ is broken from below, this scenario could be invalidated.

• Long-term cycle : Coin accumulation by long holders is at record levels, structurally indicating a strong bullish rally in the months ahead and into 2022. In the meantime, a phase of sideways accumulation should take shape between 52 k $ and 64 k $.

• Medium-term cycle : An accumulation phase prior to a bullish rally is expected. on-chain have noted a great deal of price speculation, particularly in view of a potential first ETF to be accepted by the SEC.

• Short-term cycle : Profit-taking by speculative investors may cause the price to bump into the 58k $ resistance several times. This period will be volatile due to the start of a new investor craze for crypto-assets.

We can see a rise in interest rates for stablecoins that are deposited and borrowed on DEFI, this is a signal that "big wallets" are accumulating and borrowing on DEFI platforms.

The quantity of stablecoins (USDT, USDC, DAI...) is decreasing, which is also a signal that players are positioning themselves on the markets.

In addition, more speculative assets such as DOGE and SHIBA are once again on the rise. A new investor craze is in the offing for the coming weeks and months.

All these signals are lining up and pointing to the long-awaited next leg of the uptrend. in our previous letters.

If you have any questions, comments or would like to find out more about our service, please do not hesitate to contact us: crypto.assets.manage@gmail.com

- Warning -

This is not investment advice. No one can predict the future.

You are solely responsible for your own investment decisions.

We are not responsible for any loss resulting from a decision taken on the basis of the information in this letter.