GSG Market Update – December 17, 2019

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GSG Market Update

December 17, 2019

Market Watch

Name Current Price 24h % 30d Vol 90d Vol 21d EMA 50d EMA
Bitcoin $6,946.83 -1.96% 49.88% 62.04% $7,376.06 $7,850.57
Ethereum $133.10 -5.97% 59.80% 71.96% $148.44 $159.35
XRP $0.199 -7.08% 46.60% 64.98% $0.225 $0.241
Bitcoin Cash $196.79 -4.18% 62.28% 91.49% $213.70 $230.32
Litecoin $40.14 -6.85% 66.73% 77.00% $45.64 $50.28
EOS $2.37 -7.19% 75.66% 92.28% $2.68 $2.88
Binance Coin $13.35 -6.77% 67.12% 78.58% $15.36 $16.74
Bitcoin SV $88.60 -4.42% 71.37% 110.43% $98.00 $105.35
Tezos $1.77 7.15% 96.16% 90.20% $1.487 $1.309
Stellar $0.049 -5.02% 58.97% 99.57% $0.055 $0.060

Top Stories

  • ErisX said in an alert to potential clients that its market for cryptocurrency futures will kick-off Tuesday. No further details about the products being launched. 
  • Tata Consultancy Services launched a blockchain development kit, the Quartz DevKit, aimed at helping enterprises build and deploy blockchain applications faster on platforms such as Ethereum, Hyperledger Fabric or R3 Corda.
  • Mining pool Simplecoin and bitcoin gaming platform Chopcoin are shutting down over the AMLD5 European Union regulation coming into effect Jan. 10, 2020.
  • CoinFLEX has snagged an executive from Binance, Leslie Tam, who joined the Hong Kong-based firm as its chief strategy officer. At Binance, Tam lead the exchange's VIP coverage and over-the-counter trading operations.
  • Parity Technologies, the startup behind the Parity Ethereum software client, said that it will open up maintenance of the client by way of a decentralized autonomous organization.
  • Yang Zuoxing, founder and CEO of MicroBT, has been arrested for the alleged embezzlement of about $15,000. The arrest comes amid ongoing battles between mining giant Bitmain and MicroBT

Upcoming Events

  • Dec 27: CME Dec 2019 contract last trade date
  • Jan 1: Augur v1 cutoff
  • Jan 3: Ethereum 2.0 Launch (Phase Zero)
  • Jan 4: Ethereum 1.0 Hard Fork to delay Difficulty Increase 
  • Jan 31: CME Jan 2019 contract last trade date
  • Feb 28: CME Feb 2019 contract last trade date
  • Mar 27: CME Mar 2019 contract last trade date
  • Mar 31: Mt. Gox submission deadline for claims
  • April 2020: Bitcoin Cash Halving
  • May 14: Bitcoin Halving
  • Nov 2020: ZCash Halving / Founders’ Reward set to expire



BTC Longs-Shorts

ETH Longs-Shorts

Market Cap Return

Sector Return

Bitmex Perp Swap Daily Funding Rate

Bitmex Perp Swap Funding Rate MA Ribbon

Tether Marketcap


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Twitter Daily  Discussions Happening Today on Twitter

Su Zhu@zhusu

Looking back on 2019, IEOs were a power law game. The entire market's IEO returns essentially came from @binance, while many exchanges actually generated massive losses for users via their IEOs W that said, worst y-axis ever on the left chart…

Excellent analysis by Chainalysis. It indicates the Plustoken scam has cashed out ~25,000 BTC since mid April 2019. That represents about 6% of miner issuance. It is thus reasonable to think Plustoken has been a *secondary* variable pushing price lower.…

30%-40% of Plustoken selling activity preceded price increases, while the remainder preceded price drops.

While onchain analysis is excellent, the accompanying statistical analysis is nonsensical and doesn't prove their hypothesis - at all. => Showing how, after huobi transfers, "trade volume" correlates with volatility is similar to showing how lightning correlates with thunder.

dave the wave@davthewave

Update on Total Market Cap. No-one wanted to see it, so no-one did [see first post of thread]. First rule of TA - purge desire.

dave the wave@davthewave

The short term patterns are always more speculative than the more medium term [buy zone], but the fractal is continuing to play out. If it continued to follow suit, another week would be the bottom.

Udi Wertheimer@udiWertheimer

1/ You’ve heard that ETH went through a disruptive hard fork just over a week ago. This was a painful process that left broken contracts and nodes in its wake. The next hard fork? It’s in TWO WEEKS. Why? Because otherwise the Ethereum blockchain would slow to a crawl. THREAD

Alex Krüger@krugermacro

Seeing Bottle Pay shut down due to impending money laundering laws makes me wonder how other bitcoin Lightning Network payment platforms will fare.

Eric Olszewski@hrdwrknvrstps

How decentralized is @ethereum? A look at shows: ~ 1100 nodes on Alibaba ~ 1500 nodes on Amazon ~ 200 nodes on DigitalOcean ~ 400 nodes on Google Cloud ~ 100 nodes on Azure Roughly half the network, nbd.

Searches for "Bitcoin Halving" - Google Trends:

Log scale:
Charles Edwards@caprioleio

Day 27 of the Bitcoin Miner Capitulation. Don't long falling Hash Rates.

Note: we are currently at the average duration (excluding 2011). Shouldn't be too long to go now...…

Charles Edwards @caprioleio

An update on the Miner Capitulation. It continues. We have had some recovery in the last days, but it is too soon to confirm completion. We are 16 days in. Quickly approaching the average duration of 37 days, particularly if you exclude the 2011 outlier (ave = 27 days).

Alistair Milne  @alistairmilne

Things I expect to happen over the next 4-5 months due to the impending Bitcoin halving: - BTC shorts close out - People re-accumulate BTC if they had sold - Miners start to hoard (e.g. borrow USD against assets) - Under performing altcoins sold for BTC - Bulls lever up

Viktor Bunin@ViktorBunin

1/ Ive been seeing similar analyses for a while, and theres always one thing missing from the "perfect liquidity death spiral" narrative- someone is still physically holding and staking the tokens so you need to get to them in order to launch your attack. This is highly unlikely!

Lucas Nuzzi @LucasNuzzi

How to destroy a Proof-of-Stake network in 5 steps:


With the halvening soon approaching, we took a deeper look into the behaviors of various miners. Inspired by @EliasSimos, we see 3 different eras Hobbyist Era Exploration Era (antpool and f2pool dominated) Professional Era (where no single pool dominates hashrate)


The @bitfinex $BTC L/S ratio continues to move in unprecedented fashion. As of this AM it is down 31% from yesterday's level for only the 7th time. While note statistically significant forward performance has been decidedly negative post such big moves in the past

The EW Guy@TheEWGuy

$BNB, everything is SAFU.

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