{"id":2742,"date":"2021-10-21T16:49:04","date_gmt":"2021-10-21T14:49:04","guid":{"rendered":"https:\/\/www.mereau-finance.com\/letter\/n6-lettre-de-linvestisseur-dans-les-crypto-actifs\/"},"modified":"2021-10-21T16:49:04","modified_gmt":"2021-10-21T14:49:04","slug":"n6-crypto-asset-investor-letter","status":"publish","type":"letter","link":"https:\/\/www.mereau-finance.com\/en\/letter\/n6-lettre-de-linvestisseur-dans-les-crypto-actifs\/","title":{"rendered":"No. 6 \u2013 Crypto-Asset Investor Letter."},"content":{"rendered":"<p class=\"wp-block-paragraph\">Hello everyone,<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-e3eqa\">The purpose of this letter is to inform you about the current situation of the crypto-asset market, as well as recent news in the field. This letter is not investment advice, but merely the sharing of my personal point of view.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"viewer-cpmj\">News<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-7830n\">One<a rel=\"noreferrer noopener\" href=\"https:\/\/cryptoast.fr\/aeroport-international-venezuela-accepter-paiements-bitcoin-dash-petro\/\" target=\"_blank\"><u> Venezuela's international airport will accept Bitcoin payments<\/u><\/a> (BTC). Faced with hyperinflation of their national currency (the Venezuelan bolivar), Venezuelan companies and citizens are turning en masse to digital currencies, especially Bitcoin. According to Chainalysis, Venezuela is the 3rd country in the world with the highest adoption of crypto-assets. Inflation in this country is estimated at 1600 % in 2021; to give you an idea, in France we are at 2.2 %.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-74nus\">The exodus of Chinese miners forced a rapid distribution of the <a href=\"https:\/\/cbeci.org\/mining_map\" target=\"_blank\" rel=\"noreferrer noopener\"><u>hashrate<\/u><\/a> of the Bitcoin network. To summarize, the computers responsible for securing the Bitcoin network moved to the United States because of the mining bans in China. Today, <a href=\"https:\/\/cryptoast.fr\/bitcoin-btc-hashrate-etats-unis\/\" target=\"_blank\" rel=\"noreferrer noopener\"><u>The United States now accounts for 35 % of the global hashrate<\/u><\/a>. For information, France represents 0.20 %.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-2bgb6\">The crypto-asset exchange platform Binance has been literally harassed by various regulators around the globe for several months. To appease the financial watchdogs, Binance announced in September that it would choose a clearly defined headquarters. <a href=\"https:\/\/journalducoin.com\/actualites\/binance-irlande\/\" target=\"_blank\" rel=\"noreferrer noopener\"><u>It would appear that his choice fell upon Ireland<\/u><\/a>, alongside the FAANG (Facebook, Apple, Amazon, Netflix, and Google).<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-fbo5l\">A bitcoin ETF (an investment fund whose objective <strong>is<\/strong> to replicate the performance of a given index, in this case BTC) could soon arrive in the next 3 weeks. Since the SEC is forced to respond to the numerous requests, here are the potential approval dates: October 18, 19, 25, and November 1st. If an ETF were to be approved, we can expect an immediate speculative rally.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-2ie7n\">The Swiss bank <a href=\"https:\/\/journalducoin.com\/actualites\/la-banque-suisse-qui-vous-versera-des-dividendes-en-bitcoins-btc-et-ethers-eth\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><u>SEBA Bank<\/u><\/strong><u> decided to offer <\/u><strong><u>returns <\/u><\/strong><u>on crypto-assets<\/u><\/a> held by it on behalf of its wealthy institutional clients. It is an institutional-grade solution enabling its clients to <strong>earn interest rates<\/strong> on their deposits in <strong>Bitcoin<\/strong> (BTC) and <strong>Ethereum<\/strong> ETH.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-ff4e9\">Will we see today's traditional banks become the custodians of their clients' crypto-assets in tomorrow's world? This is a possible alternative that seems more likely than their disappearance.<br><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\" id=\"viewer-940dg\">Technical &amp; Fundamental Analysis<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/static.wixstatic.com\/media\/79b3b0_f7803a76bc594afe9cdeae1ddfa4729c~mv2.png\/v1\/fill\/w_740,h_416,al_c,q_95\/79b3b0_f7803a76bc594afe9cdeae1ddfa4729c~mv2.webp\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">Bitcoin price over 1 year, since August 2020<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-61phu\">At the time of writing, the price of Bitcoin is 57,500 $. It is approaching its all-time high of 64,804 $ per bitcoin reached on April 14.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-es0pa\">If the 64k $ resistance is broken, we will trigger a multi-month bull run. In the meantime, if we break below the 52k $ level, this scenario could be invalidated.<\/p>\n\n\n\n<ul class=\"has-ek-indent wp-block-list\" style=\"--ek-indent:20px\"><li><strong><span style=\"text-decoration: underline;\">Long-term cycle:<\/span><\/strong> The accumulation of coins by long-term holders is at record levels, which structurally points to a strong bull rally in the coming months and into 2022. A lateral accumulation phase is expected to emerge between 52k $ and 64k $ in the meantime.<\/li><\/ul>\n\n\n\n<ul class=\"has-ek-indent wp-block-list\" style=\"--ek-indent:20px\"><li><span style=\"text-decoration: underline;\"><strong>Medium-term cycle:<\/strong><\/span> An accumulation phase before a bull run is expected, analyses <em>on-chain<\/em> notes a lot of speculation on prices, notably because of a potential first ETF approved by the SEC.<\/li><\/ul>\n\n\n\n<ul class=\"has-ek-indent wp-block-list\" style=\"--ek-indent:20px\"><li><span style=\"text-decoration: underline;\"><strong>Short-term cycle:<\/strong><\/span> Profit-taking by speculative investors could cause the price to bounce off the 58k $ resistance level several times. This period will be volatile due to a renewed surge of interest in cryptoassets among investors.<\/li><\/ul>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-4281c\">We can observe an increase in the interest rates of stablecoins deposited and borrowed on DeFi; this is a signal that \u00ablarge wallets\u00bb are accumulating and borrowing on DeFi platforms.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-2pmlt\">The amount of stablecoins (USDT, USDC, DAI...) is decreasing, which is also a signal that market participants are positioning themselves in the markets.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-7t9ub\">Furthermore, more speculative assets like DOGE or SHIBA are on the rise again. A new wave of investor enthusiasm is brewing for the coming weeks and months.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-49lk5\">All these signals are aligning and pointing us toward the long-awaited next bull leg of which we <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mereau-finance.com\/en\/letter\/letter-number-3-of-the-crypto-asset-investor\/\" target=\"_blank\"><u>we talked about in our previous letters.<\/u><\/a><br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><strong>If you have any questions, comments, or would like to know more about our service, please feel free to contact us:&nbsp;<a href=\"mailto:crypto.assets.manage@gmail.com\">crypto.assets.manage@gmail.com<\/a><\/strong><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" id=\"viewer-fgaji\"><em>\u2014 Warning \u2014<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" id=\"viewer-42cag\"><em>This is not investment advice, no one can predict the future.<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" id=\"viewer-3he6u\"><em>You are solely responsible for your own investment decisions.<\/em><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" id=\"viewer-8kgg3\"><em>We are not responsible for any losses resulting from a decision made based on the information in this letter.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"template":"","categories":[1],"class_list":["post-2742","letter","type-letter","status-publish","has-post-thumbnail","hentry","category-lettres"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>N\u00b06 \u2013 Lettre de l\u2019investisseur dans les crypto-actifs. - M\u00e9reau Finance<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N\u00b06 \u2013 Lettre de l\u2019investisseur dans les crypto-actifs. - M\u00e9reau Finance\" \/>\n<meta property=\"og:description\" content=\"Bonjour \u00e0 tous, L&rsquo;objectif de cette lettre est de vous informer sur la situation actuelle du march\u00e9 des crypto-actifs, mais aussi des actualit\u00e9s r\u00e9centes du domaine. Cette lettre n&rsquo;est pas un conseil en investissement, mais seulement un partage de mon point de vue personnel. 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