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How a crypto bro turned $69 million into $10k

Michael Berman, PhD Signal2Noise (S2N) News

S2N spotlight

I am not sure about you, but I almost never ever hear about NFTs; it was not a long time ago when “smart contracts” and one of their derivatives, NFTs, were all the rage. Four years ago someone paid $69 million for this NFT called Everydays: the First 5000 Days.

It is apparently currently valued at $10,000.

S2N observations

I believe healthcare is a truly undervalued sector in the US equity markets. I would be looking to overweight healthcare versus the S&P 500.

S2N screener alert

Platinum and silver had massive down days. Platinum produced its 8th -7 Z-score, and Silver its 61st -5 Z-score. If you believe in the myth that financial time series are normally distributed, those events should happen every 3 billion and 6,800 years, respectively.

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Author

Michael Berman, PhD

Signal2Noise (S2N) News

Michael has decades of experience as a professional trader, hedge fund manager and incubator of emerging traders.

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.