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Letter

FTX: Contagious or FUD? Crypto Weekly Newsletter #027

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FTX, El Salvador, Pantera Capital, Warren Buffet, Wallstreet, FUD. Investors are concerned that the FTX meltdown will prolong the contagious crypto winter.

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Letter
One Button Capital
November 21, 2022
Nov 21

Your weekly one click crypto letter is here.

FUD (Fear, Uncertainty, and Doubt) continues to rise as investors are concerned that the FTX meltdown will prolong the contagious crypto winter.

A recent report shows that FTX owes its 50 top unsecured creditors a total of $3.1 billion, while on the other end of the spectrum two of the largest Bitcoin investors are looking to buy even more of the digital asset.

Market update

At the time of writing, Bitcoin is down by -3.42% in the last 7 days and is trading at $16,168. The second largest digital asset, Ethereum, lost -10.13% of its value and is sitting at $1,135. The total market cap of crypto is $817Bn, with BTC having a market dominance at 37.95%.

Data from Nov 21, 2022, at 14:15 UTC via Messari.io.

Latest news:

More Than $1Bn FTX Client Funds Are Missing

One billion dollars or more of client funds are missing from FTX. A large portion of the $10Bn that was secretly transferred from FTX to the group’s trading company, Alameda Research, has reportedly vanished. John Ray III, the newly appointed CEO of FTX, criticized Sam Bankman-Fried for a total lack of reliable data and a total failure of corporate controls.

El Salvador To Buy One Bitcoin Every Day: President Bukele

President Nayib Bukele of El Salvador declared that his nation would purchase one bitcoin per day for the foreseeable future. In the past year, Bukele has been outspoken about his strategy of buying the dip during crypto market crises. Currently, the Central American nation holds a bitcoin treasury of over 2,000 BTC, worth approximately $40M.

Pantera Capital Reveals $149,000 Bitcoin Price Target Upon Next Halving

Pantera Capital, a cryptocurrency investment firm, predicts that the next Bitcoin halving event will spark a bull rally. If history repeats itself, Pantera forecasts that Bitcoin’s price will surge to $36,000 prior to the next halving, which is expected to occur in March 2024 and then continue its bull run to a record high of $149,000.

Other news

Our research

Read the October Crypto report for the latest market insights, the macroeconomic state of DeFi, and our latest research in just one click.

Market overview and in-depth research on the greatest crypto trades in the last 13 years.

More research

AI Crypto Trading Bot With 100% Accuracy
Key Patterns Of AI Trading Bots
Can AI Trading Bot Beat ETH By +0.23% Daily?
Top 5 Crypto Trading Bots For November 2022

One Click Crypto performance

Aggregated return of One Click Crypto vs. BTC and ETH

Last week, Bitcoin (BTC) gained +1.27%, while Ethereum (ETH) lost -3.61%. The aggregated return of One Click Crypto trading strategies returned -1.80%.

Aggregated return for 7 and 30 days, measured on Nov 20 at 23:59 UTC. Source: 1CC Stats

Top trading strategy

For a second week, Solar and Horizon take the leading spots on best-performing bots. Solar maintained a -1.63% ROI on average, while Horizon traded at an average -2.12% ROI.

Top-performing AI strategies between Nov 14 00:00 UTC and Nov 20 23:59 UTC. Source: 1CC Stats

Top-performing market pairs

Last week was good for the two Performer bots on several market pairs. Performer v1 gained +44.96% against SRM: BUSD, while his predecessor v2 profited +22.80% in CHZ: USDT.

The best market pairs for 1CC AI bots between Nov 14 at 31 00:00 UTC and Nov 20 at 23:59 UTC.

Product updates

November 18, 2022
- Resolved issue with Bitvavo stop-loss placing mechanism

November 16, 2022
- Resolved issue with OBT withdrawals module

November 13, 2022
- New functionality to display the AI diversification during automated portfolio creation

November 11, 2022
- Temporary disabling of new FTX connections
- Updating color scheme for cryptocurrencies

Final word

Historically, November is one of Bitcoin’s best months with an average gain of +53.15% in the last nine years. Unfortunately, this year the macroeconomic condition, crypto domino effect, and FTX fallout led to another series of price drops and bankrupting firms.

The initial wave of the Terra (LUNA) collapse disturbed the market for three months, and if the current situation shows a similar impact it will be harmful to the industry. Right now, analysts are keeping eye on the $13,500 price level of BTC as the next liquidity zone.

Some long-term crypto holders view this period as a golden opportunity to buy fundamental cryptocurrencies at low prices. Will they be right, or we are in for an even longer bear cycle?

Share your thoughts on the One Click Crypto Discord.

Max Yampolsky,
CEO at One Click Crypto
ir@oneclick.fi

DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.

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