Prolly nothing... https://news.bitcoin.com/largest-so...ing-volumes-soar-as-investors-bought-the-dip/ Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Investors Bought the Dip DBS, the largest bank in Southeast Asia, says that it has benefited from the recent crypto market sell-off. The trading volume of its crypto exchange nearly doubled in July, compared to April. The quantity of bitcoin bought on its exchange grew nearly four times during that time period. DBS Crypto Customers Bought the Dip DBS, the largest bank in Southeast Asia by assets, announced Monday that DBS Digital Exchange (Ddex) has benefited as crypto investors sought safety amid market volatility. DBS, headquartered and listed in Singapore, has a presence in 18 markets. “With the digital asset industry experiencing unprecedented volatility … DBS’ digital asset ecosystem has been a beneficiary of this flight to safety,” the bank detailed, elaborating: Investors who believe in the long-term prospects of digital assets are gravitating towards trusted and regulated platforms to access the digital asset market. As investors bought the dip, the total number of trades executed on Ddex in June was more than double that of April, DBS stated, adding that “Buys accounted for over 90% of trades on Ddex in June 2022.” The largest bank in Southeast Asia continued: The quantity of BTC bought on Ddex in June 2022 was nearly four times that of April 2022. Similarly, the quantity of ETH bought on Ddex in June 2022 was 65% higher than that of April 2022. In addition, DBS revealed that customers are storing more digital assets using its institutional-grade custody solution. The number of bitcoin (BTC) under custody as of June 30 grew by about 30% since April 30 while the number of ether (ETH) under custody grew by about 3% during the same time period. Meanwhile, DBS noted that its crypto exchange’s customer base continued to grow throughout the market volatility. The Ddex exchange “registered a 10% growth in its customer base” as of June 30 as compared to April 30. Moreover, inquiries from corporate and institutional investors also remained strong, the bank said. DBS Digital Exchange CEO Lionel Lim commented, “What we are seeing in the digital asset industry is a great reset as the investment narrative shifts decisively away from the chase for yield,” adding: Investors today are instead seeking out safe harbours to trade and store their digital assets amid the ongoing market volatility. DBS also noted that it is “on track to roll out self-directed trading for accredited investors in the coming months.” The bank launched a cryptocurrency exchange in December 2020. It then launched a trust service for cryptocurrencies in May last year, followed by the launch of its first security token offering.
I know nothing, but did you read the article, though? "DBS Group Holdings Ltd. said the number of trades on its digital exchange more than doubled in June from two months earlier with buys accounting for 90%, in contrast to a massive sell-off in crypto assets globally." ------------ Here's another source from Bloomberg https://www.bloomberg.com/news/arti...ys-bitcoin-trading-surged-amid-global-selloff DBS Exchange Says Bitcoin Trading Surged Amid Global Selloff By Suvashree Ghosh August 22, 2022 at 8:39 PM PDT From DBS Group Holdings Ltd. said the number of trades on its digital exchange more than doubled in June from two months earlier with buys accounting for 90%, in contrast to a massive sell-off in crypto assets globally. The quantity of the world’s largest token, Bitcoin, bought on the members-only exchange was four times higher than April, according to a statement from Southeast Asia’s largest lender, which did not provide numbers for other months. DBS launched the digital exchange in December 2020. Cryptocurrency prices have fallen sharply since May, when the collapse of stablecoin project Terra set off a wave of liquidations, bankruptcies and layoffs in the sector. “Investors today are instead seeking out safe harbours to trade and store their digital assets amid the ongoing market volatility,” Lionel Lim, chief executive officer at DBS Digital Exchange, said in the statement. While the bank has seen strong traction in its digital exchange which serves institutional investors and family offices, it has pushed back its plans to offer crypto trading for retail investors, citing technological challenges and resistance from regulators. Singapore is walking a fine line between building a blockchain hub in which innovations can flourish, and also protecting retail investors from crypto markets’ volatility.
I don't know anything either. But I do know this: charts don't lie but people do. I've seen this countless times in the last 30 years. During the dot.com bubble, they said more or less the same thing you hear now. During the subprime fever, the same mantra. But the chart shows otherwise. Unlike what you hear on the media, you can't make that stuff up. Just look at that channel line. It's hovering the low. Very weak. It doesn't mean it can't pop back up. But there's a higher chance that it will break below the lower channel. Also look how it's faring in comparison to the Nasdaq? The two goes down about the same but BTC clearly lags behind on the way up (eg. Nasdaq cleared above the neckline but BTC is still below it, as well as lower slope line).
Bitcoin is in a bear market aka as a crypto winter so its price action has been very weak. Skilled traders can make money shorting any bitcoin bear market rally price spike NFA, but you might be able to successfully trade it on the short side using the charts. I can't do charts nor trade a bear market successfully. Bull market is very easy for me as it makes everyone a genius The nice thing about Bitcoin and crypto assets is the global adoption. This article is from the largest bank in Southeast Asia
I have been keeping en eye on physical gold (and copper) miners. Particularly after reading more from Dalio. However, I just don't see any entry point that I'd like right now. Maybe I'll regret saying this 6 months down the road though. Haha!