Cryptocurrency Summary: Three Arrows Capital co-founder Su Zhu believes that American boomers capitulated on crypto mid this month. He cites the declining prices of MicroStrategy’s and Coinbase’s stock in the traditional markets. Both assets remain in a confirmed downtrend that eerily resembles that of Bitcoin, thus indicating a strong correlation. The Co-founder of Three Arrows Capital, Su Zhu, believes that American boomers capitulated on crypto mid this month. According to his analysis, the massive selling of MicroStrategy (MSTR) and Coinbase (COIN) stocks earlier this month proves that boomers offloaded their bags around the same time Bitcoin hit a local low […]

Bitcoin Summary: Su Zhu has admitted via Twitter that his Bitcoin supercycle thesis ‘was regrettably wrong.’ Mr. Zhu’s Bitcoin supercycle thesis had forecasted that BTC could reach $2.5 million if it took a large portion of Gold’s market share. The co-founder of Three Arrows Capital, Su Zhu, has admitted via Twitter that his Bitcoin supercycle price thesis was regrettably wrong. In the tweet that can be found below, Mr. Zhu went on to express optimism that the crypto industry will still ‘thrive and change the world every day.’ Supercycle price thesis was regrettably wrong, but crypto will still thrive and […]