🐂 What's Behind Bitcoin's Steady Growth?

Happy Monday dear subscribers! Following a great week in the crypto multiverse, we bring you the second edition of the newsletter. Enjoy it!

• Surfing the Market, with analysis on Bitcoin and the Big Caps.

• Don't miss the News about JPMorgan’s and El Savador’s Freedom Visa

• MAPLE Finance is under the spotlight.

• Short article about Jesse Livermore’s psychology.

• Our selection of the best Gems on X.

The Big Caps Index remains above the main support range on the $690 despite the recent rejection. The macro outlook remains bullish.

Similar scenario for Bitcoin which continues looking bullish despite the minor correction. Next resistance ahead lies on the $48,000 - $50,000 range. Halving will take place in less than 5 months.

Crypto Community Calls Out JPMorgan CEO's Bitcoin Critique Amidst Bank's Regulatory Challenges

JPMorgan CEO Jamie Dimon faces criticism from the crypto community for labeling Bitcoin's "only true use case" as aiding crime.

Crypto enthusiasts point out JPMorgan's substantial history of regulatory violations and fines under Dimon's leadership. Despite Dimon's negative stance on cryptocurrency, JPMorgan recently launched its own crypto token, JPM Coin, and engaged in blockchain initiatives.

• Jamie Dimon, JPMorgan CEO, claims Bitcoin's "only true use case" is facilitating crime during a U.S. Senate hearing.

• Crypto community highlights JPMorgan's history of regulatory violations and fines, totaling $39.3 billion since 2000.

• Dimon's critical comments face backlash, with crypto advocates labeling him a hypocrite given JPMorgan's own legal challenges.

• Dimon's suggestion to shut down crypto contradicts the bank's recent involvement in the sector, raising questions about his statements' consistency.

• Community fact-check on social media emphasizes that less than 1% of cryptocurrency transactions are illicit, challenging Dimon's claims.

Dimon's comments, including a suggestion to shut down crypto, are met with skepticism given JPMorgan's involvement in the sector and its own tokenization efforts. The crypto community emphasizes the decentralized nature of Bitcoin and challenges Dimon's assertion about its predominant use in illicit activities.

El Salvador Launches $1 Million "Adopting El Salvador Freedom Visa" Program

El Salvador has unveiled the "Adopting El Salvador Freedom Visa" program, a novel initiative inviting investors to contribute $1 million in either Bitcoin or USDT for a shot at residency and citizenship.

Limited to 1,000 participants yearly, the program also grants successful applicants a Salvadoran passport. In collaboration with stablecoin issuer Tether, El Salvador anticipates generating $1 billion annually through this program, positioning it as a unique option for those seeking investment-based citizenship.

• El Salvador introduces the "Adopting El Salvador Freedom Visa" program, aimed at attracting residency and citizenship applicants through a $1 million investment.

• Limited to 1,000 participants annually, the program allows investors to choose between investing in Bitcoin or USDT.

• Successful applicants can obtain a Salvadoran passport and citizenship, contributing to the nation's economic growth.

• El Salvador collaborates with stablecoin issuer Tether for technical support, emphasizing financial freedom and innovation.

• The initiative, costing 10 times more than similar programs in neighboring Caribbean nations, is anticipated to generate $1 billion annually for El Salvador.

The move reflects El Salvador's ongoing commitment to the integration of cryptocurrencies into its economic fabric, and the involvement of Tether underscores the nation's pursuit of financial innovation and progress.

MAPLE Finance - Unsecured Lending Protocol

Following up with the RWA narrative that we featured in last week's release, Maple operates on the blockchain and serves as an institutional capital marketplace offering credit while enabling access to tokenized Treasuries.

The protocol is built in Ethereum, Solana and Base Network and lets you lend out tokens hosted on these three blockchains to institutions that will have to repay you with interest.

Maple provides loans without collateral and participants can Borrow, Lend, Stake or Delegate, the graphic shows the different functionalities associated.

Maple Finance allows you to put your crypto assets to work to earn a yield.

A cool thing they have is that they offer staking with no lock-up periods and the platform is easy to navigate and intuitive to use.

The company offers transparent lending, a managed marketplace, and an institutional focus, partnering with regulated service providers and leading institutions to ensure custody, wallet solutions, and KYC and AML checks.

Offers four different types of pools:

🔸 Cash management.
🔸 RWAs.
🔸 Overcollateralized Lending.
🔸 High Yield Lending.

Maple dedicates its efforts to providing high-quality lending opportunities that align with the liquidity, risk, and return preferences of both institutional and individual accredited investors. Allowing to set the terms while taking care of the legal side.

Tokenomics

$MPL is the native token, enabling holders to participate in governance, earn fees, and stake tokens on Liquidity Pools.

Its circulating supply is today 44.18% and has 10M max. Supply positioning the project with a $77,4M market cap.

Before finishing up with it, I think is worthy of mention to have a look at their most relevant partners:

If you are curious to have more information, check Maple’s website and Twitter account.

Jesse Livermore’s psychology

Livermore was one of the best traders of history, and one of his secrets to success was his mindset toward the market and trades. While there are numerous inspirational quotes attributed to him, one of the most interesting ones is as follows. Let’s dive into Livermore's mind… and feelings!

Jesse Lauriston Livermore was born in the United States in 1877. Considered a pioneer of day trading, he gained fame for shorting the market, earning him the nickname of “Boy Plunger”.

Some of his legendary trades, such as shorting the market before the 1906 San Francisco earthquake and just before the 1929 Wall Street crash (black Tuesday, October 29), are still talked about among traders todays.

He was the main character of Reminiscences of a Stock Operator, by Edwin Lefèvre, a book that describes some of Livermore’s best trades and his approach to feeling the market. One of the most valuable lessons in this insightful book is as follows:

“It is inseparable from human nature to hope and fear. In speculation, when the market goes against you, you hope that each day will be your last day- and you end up losing more than you should have had you not listened to hope-. When the Market goes your way, you become fearful that the next day will take away your profit, and you exit too soon.

Fear keeps you apart from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts.

He has to reverse what you might call his natural impulses. Instead of having hope, he must fear; Instead of fearing he must hope.

He must fear that his loss may develop into a much bigger loss, and hope that his profit may become greater. It is absolutely wrong to trade the way the average trader does.”

This was a magnificent way to explain what we often hear about "cut losses quickly and let profits run", something that seems simple and logical but is rarely achieved.

PS: Read that book!

They are already announcing new expansion packages for GTA VI. "El Hodlador" seems promising, can't wait to pump the markets on my PS5.

Really nice summary on the last a16z projections for the Crypto industry during the upcoming 2024.

Fresh new narrative to mind for the upcoming months, the thread summarizes nicely the key pillars and projects.

Don’t sleep on this market, lots of opportunities to come, see you next week!