ICYMI: Based on helpful feedback we've received from readers recently, we've decided to send our newsletter out less frequently. 3 times a week to be exact: Tuesdays, Thursdays, and Sundays.
TWEET OF THE DAY
"I still prefer chopsticks, they coexist in parallel, and compliments each other."
- Binance CEO CZ on preferring chopsticks to forks. For an overview of the BCH November fork, read this piece from Scalar Capital's Jordan Clifford.
IN CASE YOU MISSED IT
🚨 Market Downturn It's no secret bitcoin's price has dipped below $6k. And, as is expected in most financial tumbles, people have mistaken the crash's symptoms (institutions taking money off the proverbial crypto table) as real causes - which still aren't definitively known. A few theories we've heard as to why bitcoin is tanking include:
It's a natural market reaction to the BCH fork
USDT is slowly unwinding (and BTC was kept above $6k while it did so)
What is for certain, however, is one of the most compelling pieces we've read on market trends and network momentum so far has accurately described the behaviors we can expect to see during the three phases of the market cycle: early bear phase, late bear phase, and bull phase.
It's admittedly easier (and healthier) to tune out market analyses and peanut gallery responses altogether. But if we can end our bit on a final note, we think Arianna Simpson puts it best when she says, "The folks shouting 'bitcoin is dead!' are full of shit. But so are the people screaming 'Yay!!! Weak hands are gone!!! Accumulation time!' They are covering their insecurity with excessive exuberance. It’s neither a time for terror nor euphoria. Steady hands win over time."
For a complete list of today's trending articles, head on over here.
READ OF THE DAY
📖Stories from the Neopets Economy A wild story of love and loss in the digital economy. Alex Irpan covers a few sagas from "That Time People Abused a Duplication Glitch and Crashed the High-End Economy" to "That Time Neopets Decreased Sale Friction and Prices Dropped Accordingly" and, last but not least, "That Time A User Donated a Billion Neopoints to Help Save the Economy."
LAUNCHES OF THE DAY
🚀 Settle: Operating system for the decentralized financial paradigm.
🔭 Coindesk Crypto-Economics Explorer: A visual tool designed to measure and track interest and activity in crypto assets.