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Hi Everyone,

As tensions continue to mount in the traditional markets it seems that they have somewhat eased in crypto. At long last, one of the most cringe-worthy elements of the crypto market has been removed. Can't hardly believe it myself but yes, I'm talking about John McAfee's dick.

In a tweet yesterday, the unwanted father figure of the crypto market revealed that he never had any intention of making good on his famous bet and it was all just a rouse to lure new people into the emerging industry.

In several subsequent replies the eccentric outlaw/presidential candidate hailed Monero as the crypto of the future. So, not only did he squelch on his debt he also stabbed bitcoin in the back in the process. Can't say that I'm surprised, old John has been known to talk his book and it seems like Monero is indeed outpacing BTC this morning. But then again, so is the rest of the alt-market.

Some say that bitcoin's main strength is the influencers that back her. If that's the case, the exit of John McAfee should be seen as a huge positive for the entire network. On top of that, we've now been spared a public gore specticle that would certainly be bad for humanity at large. What a relief!!

Mati Greenspan
Founder of Quantum Economics

The Drums of War

It seems like hundreds of thousands have shown up for General Solemani's funeral today. If the General was seen as a terrorist before all this by now he is surely a martyr. Trump has promised that any retaliation from Iran will be met with disproportionate escalation. Still, most analysts don't seem to think that an all out war is very likely. That hasn't stopped them from pricing in higher risk though.

Traditional markets are trading with a classic risk off attitude. Stocks and bond yields are falling, while precious metals and crude oil continue to gain. The currency market is oddly stable though. The highlight of this morning was Gold's pop above $1560, a level that when broken seven years ago, triggered a prolonged bear market for the world's original store of value.

If Bitcoin was looking like a safe haven asset yesterday, it would be incredibly strange to think of it as one today. As mentioned above, most of the altcoins have greater gains than BTC so far today. Still, the resemblance between digital gold and the physical stuff is uncanny. They've basically been moving in a very similar pattern throughout most of last year.

If we check the correlation graph provided by CoinMetrics, it's quite clear that their relationship has indeed been growing since May.

This period is significant for both assets for two reasons, both having to do with Trump. Namely, it's when tensions started building on the Chinese trade front (May 29th) and when Trump raised sanctions on Iran (May 8th).

Australian Brushfires & Bitcoin

As you probably know, the fires in Australia are getting really out of hand. I certainly don't have to be the one to tell you of the devastation they've caused. The good men and women in uniform there could really use your help and thanks to a local on the ground there, it's now possible to donate directly using crypto.

They've already collected nearly 200 donations for a total of about $7,000 USD. All funds raised will go directly to the Rural Fire Department, seen here helping out this cute Koala. So, feel free to get involved at this link.

Have a wonderful day!

Best regards,
Mati Greenspan
Founder of Quantum Economics - Analysis, Advisory, Money Management
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