Which Way Is Up?

Bravado Crew,

Kind of a crazy week in crypto world, right? What’s the altcoin trading cheat sheet say? Something like:

1. Bitcoin goes up, altcoins dump
2. Bitcoin goes down, altcoins dump
3. Bitcoin stays flat, altcoins pump


This week seemed to give that meme a bit of merit – that is, until the past couple of days. Since then, alts have been in a bit of a consolidation phase. However, with Ethereum still looking primed for a move up into the $235 region, we’re looking to the rest of the market to jump up again as well.

ETH kicked this move off from $188 and topped out at just under $225. The whole thing took just under five days. During that time, a downward taper paired with a sharp move up perfectly showcased keen buyer interest showing up for the world’s number two digital asset.
Since then, ETH bulls haven’t let prices slink much lower, despite the relative weakness of BTC since the VanEck SolidX ETF withdrawal.

Nonetheless, we’ve positioned ourselves to profit should ETH do another leg up – something which, from our view, could happen.

Asia-Based Crypto Exchanges Delisting Privacy Coins

In a concern-inducing move, Upbit, a top-drawer South Korean crypto exchange, pulled any and all digital assets with privacy features. Dash, Monero, Zcash, and smaller coins like Haven all had their Upbit privileges revoked.

The move mirrors a similar one made by OKEx which, in its turn, had followed Coinbase UK’s lead when it delisted Zcash. Privacy coin owners and supporters are understandably upset by the growing trend amongst regulated exchanges to delist anonymity-supporting assets.

At the crux of the issue are regulators who believe such tokens are antithetical to KYC and AML laws. That’s the public reason, anyway. We should know that governments also just don’t want to be left in the dark when it comes to who owns what.

Going forward, regulators want to devise a way to track and trace every transaction back to an identifiable owner. Monero doesn’t let them do that, so any exchange hoping to stay on the right side of regulators will have to give it the ax. Sad but true.

We’ll keep you updated as this timely issue evolves.