IA Daily Digest (Patreon)

InvestAnswer Financial Digest (21-22 Nov 2023)

Courtesy of esteemed community member Josh!!! 

Bitcoin Insights:

• BTC Purchase Price: InvestAnswer (IA) hasn't bought Bitcoin since it was at $25k but would consider buying at $35k, though he doubts it will drop that low based on current on-chain metrics.
• Trading Strategy: IA prefers trading options on Bitcoin proxies rather than day trading or scalping Bitcoin directly.
• Market Analysis: Recent Bitcoin price is fluctuating - up 35% in the last 40 days, but down 4% today, attributed to whale manipulation. Huge rebound today up $2050 at one stage. 
• Argentina's Impact: Unlikely to influence Bitcoin price due to their focus on implementing a Central Bank Digital Currency (CBDC), not BTC.
• Argentina's Potential Bitcoin Adoption: Long shot IMHO but The victory of libertarian Javier Milei in Argentina's presidential election has sparked intense speculation about the country possibly following El Salvador in adopting Bitcoin. Milei's stance on dismantling Argentina's central bank and promoting bitcoin indicates a possible shift towards greater cryptocurrency integration in Argentina's economy.

Stock Insights - Tesla and Others:

• Tesla (TSLA): Projected to hit $300 by Jan 10th 2024 with robust Q4 car deliveries, impressive Model 3 sales, and the introduction of the Cybertruck. IA is crafting a new valuation model for TSLA, indicating strong potential. 
• Elon Under attack from the LEFT - eom
• Tesla silences critics with Cybertruck’s immaculate build quality and perfect panel gaps, delivers it to more showrooms before Black Friday
• Trading Strategy: IA is thinking about nibbling more TSLA shares with the price under $240.
• Nvidia (NVDA): IA successfully hedged NVDA earnings by selling calls. 90% certain it would fall after earnings and it did just that. It looks like selling is close to done and could be above $500 soon. Will watch my sold calls value dissipate over the next 30 days
• Other Stocks: Skeptical about COIN (pocket lining) and PLTR (CEO) stocks. 

Bitcoin Miners

• Huge rebound the last week in BTC miners
• CLSK is showing recovery up 40% in 12 days

Crypto Market Movements:

• Algorand's CBDC Push: IA was criticized in a Scott Melker video w CEO of Algorand.  Algorand team for advocating CBDCs and hide the fact after I mentioned it last week. CBDCs are against my values , contrasting with Bitcoin's philosophy.
• Solana (SOL): IA played with JUP.AG exchanges some SOL for PYTH. SOL/PYTH pair pruice was 132 PYTH for every SOL.  Tokenomics are far from perfect but the tech is sound. 

AI:

Nov 22 (Reuters) - Ahead of OpenAI CEO Sam Altman’s four days in exile, several staff researchers sent the board of directors a letter warning of a powerful artificial intelligence discovery that they said could threaten humanity, two people familiar with the matter told Reuters.

Notable Market Moves:

• Crypto: BTC up 3.2%, ETH up 4%, SOL up 6.8%.
• Stocks: TSLA down 3%, MSTR up 3%, CLSK up 6.8%, GBTC up 5%, ETHE up 5%, NVDA down 2.6%.