Good morning/evening/night guys. As every Monday, find here your weekly dose on market analysis, the most relevant industry stats, and our best tips to profit from this exciting market while learning from it!

Bitcoin / Crypto Market Update

It’s been an awesome few days for BTC, FINALLY acting more in line with the on-chain data we've been tracking for many weeks. We knew a bullish impulse was coming and we finally had it. This brings us to an interesting juncture while we are currently consolidating in this high-volume zone... Between 49.4k and around 46k. This is a great area to consolidate to build up enough energy to push us higher. I'll be looking to add on BTC leverage positions around the 46k area. A break below 46k would be a signal to exit that trade.

The next thing we need to see is a breakout of this long-term downtrend. Once we achieve this it’s all about the next high volume zone - 53k - 59k but I want to see some healthy consolidation first with a confirmation of flows into Alts...

The on-chain data points towards us achieving this in the short term but we must be mindful of the wider equity market as we are still seeing structural breakdowns but purely looking at BTC without any outside noise we have social metrics pointing still towards some trepidation + we have super low funding so conditions are primed for a further leg. We just need to be patient

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Crypto Stats

Bitcoin On-Chain volume on the Boom

Bitcoin on-chain daily 7DMA volume reached an all-time high at $20.23 billion at the start of October-2021. It has grown at a fast pace by more than 300% after hitting $4.92 billion on 26 July 2021.

The last highest on-chain daily 7DMA volume was $17.34 which was recorded on 25 April 2021, just after when the BTC price reached ATH. Bitcoin price is still 26% down from ATH but volume ATH suggests we can make a strong move upwards from here.

Bitcoin 4th Quarter Returns

Bitcoin has a history of peak performance during the 4th quarter since 2013. The average quarterly return for the 4th quarter is 103% which is by far the highest in comparison with other quarters.

1st quarter is the worst with -0.46% quarterly average returns since 2013 while 2nd and 3rd quarter has averaged returns of 41.39% and 8.25% respectively.

Bitcoin prices have already jumped 10% this quarter and with this strong breakout, it is expected we might see a new ATH by December-2021.

Top 10 gains among play-to-earn tokens in Q3

Gaming tokens particularly NFT based play-to-earn gamin tokens remain in the spotlight and provided high returns during the last quarter.

SKILL:SKILL, an NFT crafting play-to-earn game that runs on BSC is in 1st place achieved a 1562% return during the 3rd quarter.

AXS:Axie Infinity started all the hype of play-to-earn cryptocurrency game was the 1st one to gave high returns during the last quarter with a 1217% return.

GALA:Another play-to-earn cryptocurrency that has the vision of giving players back control over their games has also earned 1028% during the last quarter.

Top fundraising by blockchain startups in last week

Yellow Card App:YellowCard, a pan African crypto exchange, has raised $15 million in Series A funding which it says will go towards its expansion with the help of Coinbase Ventures and Polychain Capital.

Gelato:Gelato Network, a protocol that helps automate smart contract execution on Ethereum and other blockchains, has raised $11 million to develop web 3.0 automation.

Roll:Roll, a platform that allows users to create their own branded tokens, announced Tuesday that it raised $10 million in Series A funding led by IOSG Ventures with participation from Animoca Brands.

Skin in the game

Key characteristics of a winning trader

To get in the right mindset to be a great trader, you need to recognize the role of emotion and psychology and actively take steps to mitigate those effects. Have a disciplined routine and objective trading strategy.

Document your trades and how they pan out, with pre-determined entry and exit points that can be revised using sound criteria. Let’s sum up the key characteristics of a winning trader.

Disciplined:

They are disciplined in their trading routine regardless of the situation they are in or the opportunity they have in the market. They always see the market objectively.

Comfortable taking risks:

Someone said that "The greatest enemy of the trader is fear. He who is afraid loses." Winning trades remain always ready to take risks as they think losing trade is also a part of the game. Their risk-reward ratio keeps them always on top of their trading business.

Adaptability:

They don’t fall in love with their market analysis as they keep reviewing it and don’t hesitate to adjust and adapt according to the market conditions.

Great researcher:

Incomplete knowledge of the market or project can be dangerous in trading. A trader needs to be best in online research to support their trading decisions. Because that is how they will gain confidence in their trading.

Control on emotions:

Winning traders control their emotions instead of letting emotions control them. They don’t get over-excited about their winning trades and don’t excessively despair about the losing trades.

Creative:

You can’t be a winning trader if you are not creative in your trading. You need to find new ways and new strategies in trading to keep you ahead of others. Something that is already known and being adopted by others won’t keep you profitable on a long-term basis. Be creative and stay ahead of the curve.

If you think you don’t have any of these characteristics then you need to develop in yourself to make trading a profitable venture for you.

Have a nice day, see you soon!Rand