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Peter Brandt To Crypto Investors “Protecting Capital Is More Important, What Good is the Moon When No Money”

Albert Brown
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Peter Brandt To Crypto Investors “Protecting Capital Is More Important, What Good is the Moon When No Money”

 

Peter Brandt: The Current Generation Of Traders Should Care More About Protecting Capital Than Being Maximalists.



Crypto trader Peter Brandt thinks the current generation of traders is all about money, they don’t have plans for trading or saving their capital. They just buy anything to reach the moon and lose their hard-earned money as a result. So these new generations of traders are more like gamblers who don’t know the basics of markets, and how to protect their capital.

The current crypto market crash has had many people talking about the future of the industry as represented by the current crop of traders and investors.

For years, a lot of crypto enthusiasts emphasized the importance of holding onto one’s stash even in the face of adverse market conditions. These tough holders were called maximalists, with the BTC base being the most popular. According to them, it was all about technology and the future as opposed to just money.

Now, this mindset seems to be changing with the current generation of traders. That’s according to one popular trader, Peter Brandt.

In a tweet, Peter explains that for every generation of traders, there’s always a eureka moment when they realize what really matters most to them. In that sense, the current traders do not seem to care more about preserving their capital.

“For every generation of traders, there is a huge “aha” moment. For this generation, the awakening is that protecting capital is more important than being a maximalist. This will become even more true in months ahead #8hitcoins $NFTs $BTC $ETH. What good is the moon when no money?”

Investors Have Been Converting Cryptos Into Stablecoins

True to this fact, stablecoins have been a major focus of late as investors sought to convert their crypto holdings into a more stable form. USDC and BUSD seem to be attracting more attention due to their proven records of stability. People want this kind of stability.

As the market prices go down, it’s yet to be seen whether these traders and investors will want to capitalize on the new opportunity and buy the dip. In that case, they would have protected their capital from degradation due to price reduction and stood a chance to buy more stash at lower prices. Peter Brandt wants them to protect their capital.

It’s Now All About The Money

While buying cryptos and keeping a stash has been touted as the way to go, the current generation does not properly understand the inherently volatile nature of the crypto market. For this reason, they only see the market as an opportunity to make profits. A lot of cryptos are hyped as going to the “moon” in terms of price, so investors buy them expecting to gain profits when the prices spike. so in order to make quick money, they lose their wealth that is why peter is 100% right in saying “What good is the moon when no money? “.

SEC Files Request to Seal Its Response Opposing Amici’s Participation In Upcoming Expert Challenge

Lele Jima
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SEC Files Request to Seal Its Response Opposing Amici’s Participation In Upcoming Expert Challenge

The Securities and Exchange Commission (SEC) has filed a proposed redaction under seal, opposing amici’s request to participate in the upcoming expert challenge of Mr. Patrick Doody. 


According to a recent motion, the SEC is poised to seal its response in opposition to amici’s request to file a brief regarding Mr. Doody’s opinions to keep the expert safe from angry investors, who had seen the value of their XRP investments crash tremendously since the beginning of the lawsuit.

The agency noted that 11 of the 17 submitted Exhibits should not be publicized by the court because doing so will put Mr. Doody’s life at risk.

Per the motion, both Ripple and the SEC had a meeting to discuss which of the exhibits should be filed under public dockets and the ones that should be kept confidential.

SEC’s Quest to Seal Its Objections 

“The SEC admits that proposed redactions to the opposition brief and sealing of 11 exhibits are narrowly tailored to serve the higher value of protecting witness safety in light of the likelihood that past harassment and threats will continue in the absence of such steps,” the agency stated.

Notably, the SEC accused attorney John Deaton of publicizing some information about Mr. Doody on the microblogging platform Twitter, which it initially planned to seal.

“While some information the SEC seeks to seal has already been publicized by Movants’ attorney, John Deaton, the SEC seeks to seal this and other materials to prevent further threats to and harassment of the SEC’s expert,” the agency added.

Doody’s Safety Paramount

The Securities and Exchange Commission concluded that while Experts’ witness understands that opposition parties can challenge their opinions as part of efforts to dismiss their testimony, they should not be subject to a campaign of humiliation, harassment, or threats, adding:

“Any additional disclosure about the expert or his opinions, including disclosure of material that is already in the public domain, will lead to additional threat and harassment of the expert.”

Attorney Hogan Defends His Colleague

Meanwhile, attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, noted that attorney Deaton has every right to comment on the SEC expert witness regardless of whether the comment is negative or not.

He added that it is “ridiculous” for the SEC to misinterpret attorney Deaton’s comment on its expert witness as threatening and harassing.

With the Securities and Exchange Commission seeking to seal its opposition to amici’s participation in the brief, Judge Analisa Torres would be in the best position to decide what would be made public regarding the SEC’s expert testimony.

Data Shows Bitcoin Whales Acknowledging $21K-$22K As A Level Of Interest

Albert Brown
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Data Shows Bitcoin Whales Acknowledging $21K-$22K As A Level Of Interest

 

Santiment data shows investors have a more profound interest in Bitcoin at the $21K-$22k level.



Bitcoin has been on a freefall for a while, dropping from the $40k level to the current $21k level within a few weeks.

On the one hand, this price reduction happened almost suddenly and shocked the market. On the other hand, it was always expected that BTC would pull back sometime within 2022.

That’s perhaps why whales are moving in large numbers and executing numerous Bitcoin transactions.

According to data from Santiment, whales seem to be taking a keen interest in BTC at current price levels. They executed over 12,960 transactions with values of over $100k each within the hours of 2 pm yesterday and 2 am UTC today. This was the most active, with large amounts seen since May 2021.

“Amount of BTC Transactions Exceeding $100K Hits its mark since May 2021.”

 

Bulls Vs. Bears

At around $22k, Bitcoin seems to be hosting a fierce battle between bulls and bears. Some analysts have opined that the coin will bottom out at this level and possibly see a bullish reversal.

The whale action may be a confirmation of this sentiment. However, Bitcoin seems to have dropped further down the said point. At this time, Bitcoin is valued at $21,038, with a market dominance of 44.7%. It’s unclear whether the whale action will influence the price upwards or not.

Is This An Accumulation Period?

Besides the whale action, other relatively small holders are also taking note of the current price levels and recognizing the opportunity.

Glassnode reports that the number of BTC wallets with 0.01 BTC has reached an ATH of 10.1M addresses.

 

Similarly, wallets with over 0.1 BTC has hit an ATH of 3.5M addresses.

 

This could indicate that BTC investors are increasingly accumulating, and this sentient could be traced back to the accumulation period of 2020 when the likes of MicroStrategy and Fidelity were buying large amounts of cryptos. At the time, BTC traded at around the same levels as today.

Mysterious Whale Accumulates 662B Shiba Inu Worth $5.2M Now Holds 3.9T Shib, Making Shiba Top Holding Of ETH Whales

Zabi
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Mysterious Whale Accumulates 662B Shiba Inu Worth $5.2M Now Holds 3.9T Shib, Making Shiba Top Holding Of ETH Whales

 

Shiba Inu (SHIB) Surpassed FTX Token (FTT) to become the Biggest Holding Among Top 500 Whales as Mysterious SHIB Whale Accumulated Whopping $5.28 Million Worth of Shiba Inu.



In a major development, Shiba Inu flipped FTX Token to become the top held position by dollar value among the top 500 Ethereum whales.

The 17th biggest cryptocurrency in the world in terms of the market cap also manages to make it into the top 10 purchased tokens list in the past 24 hours.

The mysterious SHIB Whale added a whopping 662.34 Billion of canine-themed cryptocurrency to its stash in the past 48 hours.

Shiba Inu (SHIB) Becomes the Top Favorite Token of Top ETH Whales:

Shiba Inu manages to steal the show from FTX Token during the recent widespread selloff in the global crypto market. The popular canine-themed cryptocurrency now become the top held position by dollar value among the top 500 Ethereum (ETH) whales, as per WhaleStats. Now, the largest of ETH whales holds more than $459.60 Million worth of SHIB tokens.

The development comes after the mysterious whale gobbled up a whopping 662,345,021,738 (662B) SHIB, worth $5,283,139 ($5.28M) in six separate transactions during the past 48 hours.

The mysterious whale becomes active once the widespread selloff in the global crypto market intensified and Shiba Inu falls below its critical support level located at $0.0000095 on the daily chart.

Etherscan.io data shows that the mysterious whale now holds a total of 3,970,376,288,002 (3.97T) SHIB, worth $32,080,640 ($32.08M).

 

This significant accumulation from the mysterious Whale has also helped Shiba Inu to make it to the list of top 10 purchased tokens by the 100 biggest ETH whales in the last 24 hours, WhaleStats reports.

Formerly on June 13th (Monday), the 690th largest ETH Whale labeled “BlueWhale0073” has also added a whopping total of 356,078,908,730 (356.07M) SHIB tokens, worth $3,001,745 ($3.00M) to her stash in one noticeable transaction.

Impact on SHIB Price:

Shiba Inu remains on the backfoot despite all the developments mentioned above. This might be because of the fact that the biggest cryptocurrency in the world, Bitcoin (BTC), is potentially sending disastrous ripple effects across the broader crypto market.

At the time of writing, Shiba Inu is trading at the price of $0.000007903, down -2.33% over the last day, with a 24-hour trading volume of $409,849,361 ($409.84M).

New York Mayor Eric Adams Opposes Ban On Bitcoin Mining In The State

Mark Brennan
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New York Mayor Eric Adams Opposes Ban On Bitcoin Mining In The State

The Mayor of New York doesn’t like a bill that proposes a temporary ban on crypto mining in the state.

Apparently, Eric Adams isn’t reading from the same script as those who want to stifle the growth of the crypto economy in New York. Adams is the mayor of New York City.

It appears that some lawmakers in the state have prepared a bill that, if passed, would put a moratorium on all crypto mining activities that use a Proof-of-Work mining mechanism. Eric Adams wants to oppose that bill.

The crypto market is just over a decade old since Satoshi Nakamoto created Bitcoin back in 2009. However, cryptos didn’t catch on until a few years ago when it went mainstream and numerous new entrants started a buzz about it.

Soon, a bull run happened, sending the waves across the world, and making cryptos known in every corner. Crypto has since managed to attract the attention of various sectors, including hospitality and banking. A few years back, the majority of traditional banking institutions, investment funds, and even governments were anti-crypto. Today, they’re putting their money in.

Moratorium Would Have State’s Economy

According to the Mayor, a ban on crypto mining would be harmful to the people of New York as well as the state’s economy, and that’s something that should not be entertained. Adams has promised to present a petition to the State governor to use his veto powers to block the bill.

However, this is a long shot since the governor may decline to veto the bill, especially since the state has been planning to transition to more environmentally friendly renewable energy. Many people see BTC mining as an environmental problem due to the heat and carbon dioxide produced. The State plans to reduce these emissions by 85% before 2050.

Need For A Quality Legislative Framework For The Industry

Mayor Adams has been fiercely pro-crypto. A while ago, he urged lawmakers to come up with a proper regulatory framework for the crypto industry. For this to happen, legislators need to engage industry players to gain insight into the space in order to formulate relevant policies.

CoinDesk Korea Discloses Revelations That Terraform Labs Wallets Caused UST Depegging

Lele Jima
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CoinDesk Korea Discloses Revelations That Terraform Labs Wallets Caused UST Depegging

New Investigations Shows Terra Owns the Wallet That Crashed LUNA and UST.


More than one month after Terra ecosystem tokens, UST, and LUNA collapse, new revelations continue to surface, revealing the actual cause of the unfortunate incident.

Contrary to reports that Terra tokens plunged as a result of the external attack, Terra’s collapse came from internal actions, Coindesk Korea reported earlier today.

According to the report, the crypto wallet that conducted a series of transactions that resulted in the massive collapse of Terra tokens is owned by TerraForm Labs (TFL).

Uppsala Investigation Indicts TFL

After TerraUSD (UST) lost its peg to the dollar and the subsequent crash of LUNA and other digital currencies, Uppsala Security, as well as Coindesk, launched an investigation to uncover the main cause of Terra’s collapse.

For clarity, Coindesk Korea reports that the wallet was created on May 7, 2022, the same day that UST lost its peg to the dollar.

Per the report, a few minutes after Do Kwon, the CEO of Terra, withdrew 150 million UST from the project’s decentralized finance (DeFi) curve on May 7, the wallet exchanged 85 million UST for USD Coin (USDC) from the Terra curve.

The wallet operators proceeded to deposit the swapped USDC to San Francisco-based exchange Coinbase, and also deposited large amounts of UST to other trading platforms globally, a move that accelerated the de-pegging of the Terra algorithmic stable coin.

Deep Investigations Show Shocking Results

In a bid to discover how the wallet that launched the attack on Terra tokens got its funds, Uppsala Security and Coindesk Korea discovered that the wallet was funded by another wallet, dubbed Wallet A (T), created on the Ethereum blockchain and believed to be controlled by the TFL team.

Notably, the TFL team exchanged UST based on the Terra chain for an Ethereum-based version using a wormhole.

Coindesk reported that an intensive investigation into the transaction activities of the second wallet revealed that the wallet had transferred a huge amount of $UST to Binance, especially to addresses belonging to TFL, including that of the Luna Foundation Guard (LFG).

“Combining the above findings discovered through on-chain forensics, the Binance user memo ‘104721486’ wallet, LFG wallet, LUNC DAO wallet, wallet A(T), and wallet A that received UST from wallet A(T) are all It leads to the conclusion that the wallets are either owned by the same owner or managed by a single group,” Coindesk added.

Not New

This is not the first time Kwon and his company have been accused of conducting illicit businesses prior to the crash of Terra. As reported, Kwon cashed out over $2 billion a month before Terra’s collapse.

Yesterday, popular Terra influencer FatMan noted that Kwon owns a secret wallet he used to manipulate voting exercises on new proposals to ensure things go his way.

Crypto Market Loses $1.3 Billion In 24 Hours As Over 270,000 Investors Undergo Liquidations

Albert Brown
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Crypto Market Loses $1.3 Billion In 24 Hours As Over 270,000 Investors Undergo Liquidations

 

Many investors got liquidated as the crypto market tumbles.



The crypto market has experienced a pullback over the last few months. The prices of numerous cryptos have dropped by over 60%, with some even losing over 80% of their ATH value. However, the sudden crash that started over the weekend was unexpected.

While a lot of analysts and traders expected the market to continue on a downward trend, the current crash sent cryptos losing value by huge percentages within a very short time.

Recent reports indicate that over $1.3 billion of investor funds have been wiped out over the last 24 hours. This has affected over 273,000 investors whose positions have been liquidated.

Even the government of El Salvador, which legalized Bitcoin as legal tender a few months ago, has seen the value of its BTC stash shrink by over $40 million. On the other hand, Microstrategy is down $1B while Tesla is down $320M on their Bitcoin holdings.

Unforgiving Market

Granted, it’s not the first time that the crypto market has experienced a price crash. It’s a volatile trading environment. For example, Bitcoin’s price was over $40k just a few months ago. Today, the coin is trading at just around $22.4, with analysts predicting further drawbacks. Whether this is a temporary bearish moment or whether it’s going to persist is still a subject of discussion among crypto enthusiasts.

Is This The Crypto Winter?

For months, analysts and traders have predicted an incoming crypto winter. A crypto winter happens when crypto prices crash to unprecedented levels and stay down for an extended period. It could weeks or months before the winter ends. Crypto winter is often accompanied by extreme fear among investors as many of them see their investments enter the red zone.

On the other hand, crypto winters present a great opportunity for investors who are not affected by the FUD to accumulate and wait for the bull run to gain profits. As is always the case, crypto winters are followed by a period of accumulation that culminates into a bull run and price jumps. It’s yet to be seen whether this trend will play out this time around.

Author of the “Rich Dad, Poor Dad” Abandons Bitcoin, Now Prefer A New Asset As ‘Best Investment’

Albert Brown
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Author of the “Rich Dad, Poor Dad” Abandons Bitcoin, Now Prefer A New Asset As ‘Best Investment’

Bitcoin Has Been Abandoned by the Author of the Rich Dad, Poor Dad Book.



Robert Kiyosaki, the author of Rich Dad, Poor Dad, changed his investing advice in light of this week’s steep decline in the crypto market. Gold, silver, and Bitcoin are no longer the greatest choices for the author at this time.

His latest Twitter post is “Best INVESTMENT:  Cans of Tuna Fish. Inflation is about to take off.  Best investments are cans of tuna & baked beans. You can’t eat gold, silver, or Bitcoin. You can eat cans of tuna and baked beans. Food is most important. Starvation next problem. Invest in the solution. Take care.”

 

For a long time, Kiyosaki has been a proponent of Bitcoin. He advised his fans to purchase Bitcoin in 2021 as a hedge against a possible economic downturn.

The author predicted a huge collapse and new slump” at the time. Inflation in the United States is on the rise, and the Federal Reserve (FED) in the United States has raised interest rates.

For those who follow Kiyosaki, his current investment recommendation is nothing new. Even if it is difficult to fathom his thoughts; he abandons Bitcoin one day and endorses it the next.

The high rate of inflation in the United States — 8.6 percent over the last year — is a major factor in his decision. Despite the fact that interest rates have already been hiked by the Federal Reserve, this is the highest level in four decades.

Also The high inflation we are experiencing after the Covid-19 pandemic and the war between Russia and Ukraine is worrying even the richest, regardless of the country where they live.

Though Robert Kiyosaki had urged investors to purchase Bitcoin after the International Monetary Fund (IMF) warned of a worldwide currency crisis, the dramatic decrease in BTC these last few days has clearly made him a little nervous. It’s important to remember that Kiyosaki has said that the greatest moments to make money in crypto are when Bitcoin drops. 

South Korean Exchange Upbit Warns Users About Tron Fluctuation After USDD De-Peg 

Mark Brennan
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South Korean Exchange Upbit Warns Users About Tron Fluctuation After USDD De-Peg 

South Korean crypto trading platforms are no longer taking chances after the Terra incident. 


A lot of lessons were learned following the de-peg of TerraUSD (UST), the algorithmic stablecoin of the Terra ecosystem, which wreaked havoc on the entire cryptocurrency market as the value of the entire crypto market plummeted massively.

Following the incident, cryptocurrency players have been looking for possible scenarios to prevent a recurrence of the Terra saga.

According to a blog post published by a top South Korean cryptocurrency exchange Upbit, investors of the trading platform were warned to exercise caution and be observant after Tron algorithmic stablecoin, USDD, lost its peg to the dollar.

“Currently, there is a concern that the pegging of USDD is not going well. As a result, the possibility of price fluctuations of WAVES and TRON (TRX) associated with each of the above stablecoins may increase, so please be careful about investing in WAVES and TRON (TRX),” Upbit said in a statement today.

$USDD De-Peg Affected Tron Projects

Meanwhile, the de-peg of USDD has resulted in the price fluctuations of TRX, which has crashed over 15% in the last 24 hours, at the time of writing.

Over the last 24 hours, USDD lost its peg to the dollar as it crashed to a low of $0.974. The incident also led to the dip of TRX, which fell to a low of $0.058 from $0.079.

In a similar development, the plunge of Tron ecosystem tokens TRX and USD also crashed the total value locked (TVL) across various decentralized finance (DeFi) protocols on the Tron Network.

Moments after USDD lost its peg, the TVL on the various protocols hosted on the Tron network dipped from $5.73 billion to $4.68 billion in the last 24 hours.

The development has continued to spread panic in the cryptocurrency community, thus leading to widespread investor capitulation.

Moves to Prevent Tron from Crashing Like Terra

The Tron Foundation team is not leaving anything to chance as it is making significant moves to prevent the Terra incident from happening to its project. The team has deployed funds from its Decentralized Autonomous Organization (DAO) reserve to shield investors from losses.

So far, a total of $2.5 billion has been injected from the Tron DAO reserve to maintain the USDD peg to the dollar. At press time, the stablecoin is trading around $0.98, representing a 0.3% decline in the last 24 hours.

Meanwhile, Korean exchanges are teaming up to prevent a recurrence of the Terra incident. According to a YNA report, leading Korean exchanges, including Bithumb, Upbit, Korbit, Coinone, and Gopax are considering developing stringent measures that will determine the criteria digital currencies will undergo before getting listed.

MicroStrategy CEO Michael Saylor Endures Twitter Backlash Over His Investment Advise As Bitcoin Price Crashes

Albert Brown
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MicroStrategy CEO Michael Saylor Endures Twitter Backlash Over His Investment Advise As Bitcoin Price Crashes

 

MicroStrategy Faces Margin Call Amid BTC Price Fall: CEO Michael Saylor Endures Twitter Backlash Over His Investment Advise.



Twitter agitator wants MicroStrategy CEO Michael Saylor to go to jail for telling people to sell houses and buy BTC as Twitter is erupting over Saylor.

@Mayhem4Markets said: “Where are all the laser-eyed crypto pumpers who promised $100k Bitcoin and protection against inflation with these Ponzi coins?”

They should stop gambling tax money and start investing in something productive. Hodl for life and become rich is the dumbest thing for a speculative asset. They will get rekt along with @saylor”

Getting ready for a rug pull? Laser eyes will fool them for sure.”

The fall of the crypto market into the red zone is inflicting pain on investors, especially those who have been waiting for short-term gains. As for the long-term investment firms like MicroStrategy, it’s all about staying afloat and riding the wave till the storm is over. However, staying afloat means dealing with current market shifts that threaten investments.

For example, MicroStrategy has invested heavily in Bitcoin. The firm is estimated to hold over 129,000 BTC. The company was among the biggest accumulators, especially back in 2020. Currently, the BTC stash is around $30,700 each in the average buying price. That’s why the current price crash isn’t good news for the firm.

As reported by TheCryptoBasic this Bitcoin crash has caused MicroStrategy a loss of $1B.

BTC Below $21k Is Bad For MicroStrategy

Back in May, as crypto prices tumbled, the company took a loan amounting to around $205 million with $820 million worth of BTC as collateral.

The price fall has seen that figure get slashed in half. In May, the company president, Phong Le, was quoted as saying that BTC’s price would have to drop by half before the firm faced a margin call. He quoted the $21k price as the ultimate point. He added that the company would accumulate more BTC and put up more collateral to prevent the margin call from happening.

Now, things have changed and BTC has fallen by half. At press time, the coin is trading around $22,700, just $1,700 shy of the point quoted by Le. At that price, MicroStrategy would need more collateral for a loan to keep it afloat or face massive liquidation of its BTC stash.

Saylor Told People To Sell Houses And Buy Bitcoin

Meanwhile, the company’s CEO, Michael Saylor, is currently facing heavy backlash on Twitter. Apparently, he’s being accused of misleading people by telling them to sell their property, including houses, to buy Bitcoin. Now, BTC has crashed and people are in the loss zone. There’s even a video of him saying as much, and the poster, Live Monitor, wants Saylor jailed for it.

Saylor in tough times updated his profile photo and shared a tweet showing he stands strong.

 

On the other hand, the crypto market is known to be a volatile space, and investors are always advised to do their own research before committing funds to cryptos. Also, BTC has been touted as a store of value, meaning that it’s viable for long-term investment as opposed to short-term.

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