Welcome to One Button Capital’s newsletter.
Last week, the cryptocurrency market continued its sideways march and did not record any major price changes. On the other hand, the news surrounding the industry remained heated as we saw 3 key figures step down from their CEO roles and an alarming rate of investors selling their Euros and Pounds for Bitcoin (BTC).
Market update
At the time of writing, Bitcoin is trading at $19,345, or +0.68% from 7 days ago. Ethereum, on the other hand, lost -1.26%. Overall, the market is down by -4.80% with BNB being the only winner at +3.66% for the leading digital assets. The market cap remains under $1T.
Investors Are Selling Euros and Pounds For Bitcoin At a Rapid Rate
According to Messari data, investors are selling the Euro and British Pound for Bitcoin in record numbers. Thomas Dunleavy, a senior research analyst at the company, tweeted:
“If your currency was rapidly depreciating what would you buy to protect your purchasing power? The answer for Euro and Pound holders has overwhelmingly been #Bitcoin”
The data is noteworthy because we did not observe the same pattern in previous crises in 2020 or 2021. Other major cryptocurrencies, such as Ether, have not yet seen the same trend.
Done Deal: FTX Finally Acquired Voyager’s Crypto Assets For $1.42B
Voyager Digital Ltd announced that its operating company Voyager Digital LLC selected West Realm Shires Inc. (“FTX US”) as the highest and best bid for its assets. FTX US’s bid is valued at approximately $1.42B.
The Company’s claims against Three Arrows Capital remain with the bankruptcy estate, which will distribute any available recovery on such claims to the estate’s creditors.
Hedge Fund Legend Predicts a Crypto Renaissance
Stanley Druckenmiller, an American investor, and hedge fund manager who was part of George Soros’ legendary $10B bet against the British pound in the 90s gave a positive prediction for the cryptocurrency market at the Delivering Alpha Investor Summit.
According to him, the U.S economy is headed for a “hard landing”, and the loss of trust in central banks around the world could lead to crypto having a renaissance as an alternative financial tool.
Read the August OBC Report here. Our September edition will be released later this week.
How AI Took Over The Financial World
15 Crypto Funds 2021–2022 Performance
World’s Richest Gamblers (Investors)
AI Trading Bot Patterns & Behavior
Aggregated return of OB Capital vs. BTC and ETH
One Button Capital’s AI had a neutral week at -0.55%. Ethereum went down by -0.24%, while Bitcoin gained +2.12%. In the last 30 days, OBC has remained a good hedge against the crypto downtrend with -0.13% against BTC’s -3.91% and ETH’s -18.02%.
Top trading strategy
Performer v1 made a great comeback by taking first place in this week’s trading. At +3.80%, the AI was followed by Clipper and Astral v2, both with a +1.61% ROI.
Top-performing market pairs
Last week, LUNA Classic (LUNC) gained big as Binance burned untold tokens. Three of our AI strategies were successful in catching the uptrend and returning between 30–70% ROI.
September 22, 2022
- Resolved issue which wasn’t updating the allocated portfolio when switching between stablecoins
September 21 2022
- Crypto.com integration
- Indicator for Binance that shows when the “Spot & Margin” option on the API keys will be automatically disabled by Binance
- Improved trading mechanism aiming to boost execution time and accuracy
October is here, and we are looking forward to a better month than SeptemBear. History has shown that the cryptocurrency market performs the best in the Q4 portion of the year on average and analysts are giving bullish signals this time as well.
The ongoing economic crisis has also demonstrated the true potential of decentralized currencies and the recent dumping of Euros and Pounds in favor of Bitcoin is an example of that. With the loose US dollar, it won’t be a surprise if something similar happens with it as well.
Max Yampolsky,
CEO at One Button Capital
ir@onebutton.capital
DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.
We regularly prepare insightful reports and case studies about crypto trading and the blockchain industry.
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