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I don't really have a clue today

A very good morning on this Friday. A Friday where I'm trying to write market musings, but at a point where I'm like…my god, I actually don't even really have a clue how the market is really doing. To be honest, I haven't dealt with the crypto market at all this week. Normally I write this blog in less hurry, and every day I check what is going on, what it looks like, what special things have happened etc ... But this week I have been busy with so many other things, that I never got around to it.

Normally I start writing on Thursday, but yesterday I went out myself for the first time in a long time, so I wasn't busy with crypto either. And that, that makes it kind of a cold shower to wake up today, and to realize that you really need to throw a blog online that also has something interesting to say about the crypto markets. Or at least make an attempt to do so.

EMP releasing "FUSION" Whitepaper

Fortunately, there are plenty of crypto 'news' sites to be found at such times, and you can also find a few things in discords.

One thing that might be interesting to tell, although I can't say much about it yet because I still have to go through it all myself. However, last night @emp.money's latest whitepaper came out. EMP FUSION. The launch for Fusion is currently scheduled for August, and reports say it's inevitable that EMP will get its peg back, and more importantly, stay there!

So I still have to find out exactly how it works, and I will do that via the AMA Video on Youtube, where the whitepaper explains, and of course the Whitepaper. I'm very curious myself. It will undoubtedly be continued.

155 days

In the meantime, some good news is also cautiously coming out after the plunge that Bitcoin made earlier this week. The output profitability ratio (LTH-SOPR) of long-term Bitcoin spent by the holder shows that Bitcoins now moving on the blockchain, purchased at least 155 days ago, which are now being profit sold. The fact that this period is getting shorter may indicate that the bear market is over.

But don't take this too literally, and certainly don't derive any financial advice from this, because if I remember correctly, glassnode, for example, came out with the news about 3 weeks ago that their data indicated that the bear market would be over. So whether or not the bear market will be over, I don't dare say a sensible word about it and suspect I'll stick with my current strategy for now. I'll see what it does day by day, if my portfolio is colored green then I can grab some profit, if my portfolio is colored red... then I'll have to wait a while. How do you do that these days?

Crypto is a Mental Illness?

And in the meantime the original founder of Dogecoin has spoken out, and that was most certainly not in favor of Doge, or any other meme coin for that matter. On the contrary. He also didn't like NFTs at all, and would never buy them himself. He took this a step further and called the crypto investors even dumber now than 10 years ago. Well, it all depends on how you look at it I guess. Can I be devil's advocate here? For some people it might be true, and they could be called downright stupid. Although this certainly does not apply to every crypto investor, and therefore should not be generalized in my opinion. Anyway, it should be clear, Bill Markus, the original Dogecoin founder has nothing to do with crypto and once wanted to make it clear by founding Doge how stupid he actually thought crypto was.

Shiba barks again?

Although Bill Markus is very negative about memecoins and crypto in general, and thinks it's just stupid, there are other people who think differently. The question is once again whether Shiba can make another bullish move as onchain data seems to suggest the whales are rediscovering their love for the dog.

I don't know how many times I've read this in recent years, but it must be quite often. Shiba is currently ranked 14th crypto on Coinmarket Cap, could the whales ensure that Shiba barks back into the top 10?

We will all have to wait and see, but it will be clear that it will always remain exciting in the crypto world.