{"id":2744,"date":"2021-11-15T13:16:28","date_gmt":"2021-11-15T12:16:28","guid":{"rendered":"https:\/\/www.mereau-finance.com\/letter\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\/"},"modified":"2021-11-15T13:16:28","modified_gmt":"2021-11-15T12:16:28","slug":"n4-letter-from-the-crypto-asset-investor","status":"publish","type":"letter","link":"https:\/\/www.mereau-finance.com\/en\/letter\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\/","title":{"rendered":"No. 4 \u2013 Crypto-asset investor letter."},"content":{"rendered":"<p class=\"wp-block-paragraph\" id=\"viewer-327v6\">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. This letter is not investment advice, but merely a sharing of my personal point of view.<\/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 46,500 $. We have broken upward through the 42,000 $ resistance level. Surpassing this resistance revives the long-term bull market that was cut short prematurely by the price drop from mid-May to mid-July.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-a0dkh\">Over the past few months, investors have been put to a severe test seeing prices correct for several weeks while long-term indicators were clearly bullish. As we specified in our <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mereau-finance.com\/en\/letter\/letter-number-3-of-the-crypto-asset-investor\/\" target=\"_blank\"><u>previous letter<\/u><\/a> \u00abFundamentals always prevail in the long run.<br><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong><span style=\"text-decoration: underline;\">Long-term cycle:<\/span><\/strong> The bull market is resuming the start of its second bull leg, which could bring us to a price range between 80k and 120k $ per Bitcoin. User growth continues to increase parabolically. The fundamentals of the crypto-asset sector and Bitcoin remain in the green. The strong decorrelation between the price of Bitcoin and the fundamentals has been partially bridged as the market realized it was undervaluing the price. The supply shock has materialized and the price has adjusted upward. Conclusion: mid-bull market (long term).<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"text-decoration: underline;\"><strong>Medium-term cycle:<\/strong><\/span> All types of investors are buying: Whales (1000+ BTC) and super whales (10,000+ BTC) shifted to accumulating new Bitcoin coins during the price drop in recent months. Then, average holders (between 100-1000 BTC) and retail investors (&lt;1 BTC) also shifted to buying more recently. Conclusion: bull market (medium-term, 3 months).<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"text-decoration: underline;\"><strong>Short-term cycle:<\/strong><\/span> Long-term investors bought at the breakout of the $42,000 $ per BTC resistance level. This pattern is expected to repeat at the breakout of the $50,000 $ per BTC level. Many long-term buyers will be present, which should accelerate the upward trend beyond $50,000 $. The $50,000 $ resistance is solid, but it should eventually break, fostering a new wave of widespread market enthusiasm. Conclusion: bullish market (short term, 1 month).<br><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-bvuu\">large quantities of <a href=\"https:\/\/www.mereau-finance.com\/en\/article\/stablecoins\/\" target=\"_blank\" rel=\"noreferrer noopener\"><u>stablecoins<\/u><\/a> are held by all investors. This means that large amounts of money are ready to flow into buying crypto-assets, as investors still want to take advantage of this two-phase bull market. These stablecoins (USDT, USDC, DAI, etc.) show that investors do not want to leave the crypto-asset sphere. Moreover, most of them are putting their assets to work in the world of <a href=\"https:\/\/www.mereau-finance.com\/en\/article\/what-is-defi\/\" target=\"_blank\" rel=\"noreferrer noopener\"><u>DeFi<\/u><\/a>.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-4281c\">According to certain metrics, notably that of the <a rel=\"noreferrer noopener\" href=\"https:\/\/woobull.com\/quantifying-supply-shock\/\" target=\"_blank\"><u>Supply Shock<\/u><\/a> (bid-ask spread), we can define a price for Bitcoin's current intrinsic value (always to be taken with a grain of salt), around 55,000 $ per bitcoin.<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-2llm4\">News<\/h3>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-d59un\"><br>The implementation by the president of El Salvador, Nayib Bukele, of the <a rel=\"noreferrer noopener\" href=\"https:\/\/journalducoin.com\/actualites\/historique-bitcoin-monnaie-nationale-salvador\/\" target=\"_blank\"><em><u>\u00abBitcoin Law\u00bb<\/u><\/em><\/a> (Bitcoin Law) was approved by the Legislative Assembly on June 9, 2021. This law will very soon make the king of cryptos the second legal tender in the country, alongside the US dollar.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-6up30\"><a rel=\"noreferrer noopener\" href=\"https:\/\/cryptoast.fr\/cinemas-amc-accepteront-paiements-bitcoin-btc\/\" target=\"_blank\" class=\"ek-link\"><u>AMC Theatres <\/u>will accept Bitcoin payments, it is by far the largest cinema chain in the world. This is good news for the adoption of crypto-assets, particularly Bitcoin. This kind of news truly represents the intrinsic expansion of this technology.<\/a><\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-6basv\"><a rel=\"noreferrer noopener\" href=\"https:\/\/journalducoin.com\/actualites\/objectif-bitcoin-bank-of-america-arme-guerre-cryptomonnaies\/\" target=\"_blank\" class=\"ek-link\"><u>Bank of America<\/u> turns his jacket and announces that he has a team entirely dedicated to the crypto-asset sector. Major reluctant institutions are changing their point of view one after another on the world of crypto-assets, especially over the last 12 months.<\/a><\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\" id=\"viewer-8jb2h\">You can also discover our latest article about <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mereau-finance.com\/en\/article\/debt-money-and-value-money\/\" target=\"_blank\"><u>debt-based currencies and value-based currencies.<\/u><\/a> We are talking about how to preserve one's wealth with currency assets and central banks (Fed, ECB, etc.) that are trapped in the paradigm of their own money-printing strategies.<br><br><\/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\" id=\"viewer-aduqs\"><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>","protected":false},"template":"","categories":[1],"class_list":["post-2744","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\u00b04 \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\u00b04 \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. Cette lettre n&rsquo;est pas un conseil en investissement, mais seulement un partage de mon point de vue personnel. Le cours du Bitcoin \u00e0 l&rsquo;heure o\u00f9 j&rsquo;\u00e9cris ces lignes est de 46 500 $. Nous avons franchi [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mereau-finance.com\/en\/letter\/n4-letter-from-the-crypto-asset-investor\/\" \/>\n<meta property=\"og:site_name\" content=\"M\u00e9reau Finance\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/\",\"url\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/\",\"name\":\"N\u00b04 \u2013 Lettre de l\u2019investisseur dans les crypto-actifs. - M\u00e9reau Finance\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.mereau-finance.com\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/lettre-des-investisseurs.webp\",\"datePublished\":\"2021-11-15T12:16:28+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.mereau-finance.com\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/lettre-des-investisseurs.webp\",\"contentUrl\":\"https:\\\/\\\/www.mereau-finance.com\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/lettre-des-investisseurs.webp\",\"width\":1448,\"height\":1086},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/letter\\\/n4-lettre-de-linvestisseur-dans-les-crypto-actifs\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\\\/\\\/www.mereau-finance.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"N\u00b04 \u2013 Lettre de l\u2019investisseur dans les crypto-actifs.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#website\",\"url\":\"https:\\\/\\\/www.mereau-finance.com\\\/\",\"name\":\"M\u00e9reau Finance\",\"description\":\"Investissez dans les crypto-actifs en toute confiance\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.mereau-finance.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#organization\",\"name\":\"M\u00e9reau Finance\",\"url\":\"https:\\\/\\\/www.mereau-finance.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.mereau-finance.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Mereau-Finance-logo.svg\",\"contentUrl\":\"https:\\\/\\\/www.mereau-finance.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Mereau-Finance-logo.svg\",\"width\":157,\"height\":38,\"caption\":\"M\u00e9reau Finance\"},\"image\":{\"@id\":\"https:\\\/\\\/www.mereau-finance.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"No. 4 \u2013 Crypto-Asset Investor Letter - M\u00e9reau Finance","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"N\u00b04 \u2013 Lettre de l\u2019investisseur dans les crypto-actifs. - M\u00e9reau Finance","og_description":"Bonjour \u00e0 tous, L&rsquo;objectif de cette lettre est de vous informer sur la situation actuelle du march\u00e9 des crypto-actifs. Cette lettre n&rsquo;est pas un conseil en investissement, mais seulement un partage de mon point de vue personnel. Le cours du Bitcoin \u00e0 l&rsquo;heure o\u00f9 j&rsquo;\u00e9cris ces lignes est de 46 500 $. 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