Unlocking Crypto Potential: Bumper's Launch, Manta Network, and Buying the September BTC Dip
Historically, October is the best month for BTC returns. Pay attention and prepare now!
While Bitcoin and the crypto market may appear uneventful and dreary this September, it's crucial to stay vigilant as it could potentially set the stage for a robust October and a strong finish to Q4. Take a moment to examine the monthly BTC returns over the past several years for September and October. Although September has historically yielded poorer returns, it could present an excellent opportunity to enter a position, paving the way for a promising October ahead with historical returns as high as 50% monthly.
Meanwhile, numerous projects are still in a phase of steady growth. In this week's episode, I delve into the Bumper launch, which presents an enhanced price protection mechanism that arrives at a particularly opportune moment for a potential market downturn. Additionally, I discuss the incentivized test-net of Manta Network, a promising upcoming cryptocurrency exchange Globiance, and an enlightening conversation with the legendary Mike Adams, also known as the Health Ranger.
Stick around for the Bitcoin Analysis and Weekly Crypto news at the end!
Bumper Finance Launch: Protecting your ETH from Downside
Today, Bumper Protocol has launched to the public. I've had Bumper on the show many times over the past years as they've been building a price protection function for DeFi that could completely change the way we trade in bear markets.
Bumper enables you to defend against price drops, downside volatility, and crashes in the ETH you hold. While it's possible to achieve this in similar ways using stop-loss protection, it often happens that when you set a stop-loss, the market drops precisely to your stop level, takes your funds, and then swiftly rebounds, continuing its upward trajectory. It's almost as if market makers know where your stop levels are (hint: they do).
Bumper Protocol allows you to protect your ETH at a specific price point, for example, at $1500 USD. If the market drops below $1500 to $1200, you can then trigger the bump you've set and sell your ETH for $1500. However, if it experiences a flash crash down to $1200 and then rebounds to $1700, you wouldn't have to utilize the protection, you'd continue holding your ETH, and you wouldn't have been stopped out, as is the case with a traditional stop-loss.
If we're about to experience one last dip in the market, this is the perfect time for Bumper to launch and protect the downside of your ETH and tokens.
They're also giving away $250,000 worth of BUMP tokens as rewards for early adopters who use the protocol, so I highly recommend checking it out today on launch day.
I spoke with Gareth Ward, the Co-Founder of Bumper Finance, in my video above, discussing the details of the launch, how it works, and how to get started with protecting your ETH and accumulating early adopter rewards.
Manta Network - Testnet launch:
There are numerous promising blockchain networks that have yet to launch their mainnet. This delay is partly due to the enormous undertaking that takes several years and may also involve an attempt to time the market.
Manta Network is a substantial project with two components: Manta Atlantic (Layer 1 for private identity) and Manta Pacific (Layer 2 for ZK apps).
They have developed an entire SDK Library for Zero-Knowledge (ZK) code for applications. This could represent a significant advancement for the entire blockchain ecosystem, as more applications could seamlessly integrate privacy features into their dApps without the need to learn or code ZK components from scratch.
Among various other innovations, they have also created an identity technology called zkSBT (Zero-knowledge Soul Bound Tokens). It's quite a mouthful, but it promises to be a substantial leap forward in privacy protection when it comes to providing private information for KYC purposes, whether it's for applying to a crypto exchange or transferring large funds through an intermediary.
Currently, Manta Network is in the testnet phase. The Manta Network token will likely be introduced at the mainnet launch. However, there are several ways to get involved now and have a chance to acquire some tokens before they hit the market. You can explore further by checking out my interview with Co-Founder Kenny Li above, visiting their webpage, downloading their wallet, and starting your exploration
Crypto Exchange: Globiance
I recently had a conversation with Oliver La Rosa, the CEO of Globiance cryptocurrency exchange, which is a rapidly growing regulated exchange.
In the cryptocurrency industry, it's crucial to strike a balance between having an adequate number of exchanges to ensure liquidity isn't too diluted among different players, and avoiding a monopoly that could stifle competition and innovation.
During our discussion, we explored the reasons behind their successful growth, how their user experience (UX) contributes to retaining users, their GBEX token and global payment processing platform, and the rationale behind their daily rewards program for users holding the GBEX token on their platform.
Mike Adams the Health Ranger on Decentralizing your life:
I also just wrapped up a conversation with Mike Adams, known as @HealthRanger on Twitter, where we delved into the subject of transitioning away from fiat currency and embracing Bitcoin (as well as Privacy Coins) as a means to regain control over our sovereign money. We discussed various topics, including his early Bitcoin mining experiences powered by solar energy, making donations via Monero, and a range of other subjects.
Mike is undeniably a legend in his field. If you've ever followed Brighteon News or Natural News, you'll be pleased to know that Mike has expanded into a new network called Decentralize TV, where he places a special focus on the financial aspects of decentralization.
As one of the original independent publishers, he consistently delivers some of the highest-quality content available. I highly recommend checking out his work and our enlightening conversation.
Market Analysis:
Building on my Bitcoin analysis from last week, the BTC market has completely erased any minor gains it had made following the positive news about the Grayscale Bitcoin ETF. We continue to see a sideways, bearish-looking pattern.
Weekends are typically not an ideal time to initiate new positions in Bitcoin due to low trading volume. The Labor Day long weekend, in particular, resembled more of a ghost town than the usual weekends. Historically, both August and September have been unfavorable months for Bitcoin returns, so expectations for an upward move this month are limited.
However, October has a history of being a very promising month for Bitcoin, with some years recording gains of over 40% during that period. Moreover, many ETF decisions are slated to be either approved or denied around mid-October (October 15-19th). If one or more ETFs get the green light, it could serve as a catalyst for a significant surge in Bitcoin's price.
In September, there's a possibility that Bitcoin could dip into the first reload zone, as illustrated in the chart below, potentially breaking below the $25,000 mark. If there's a negative news event or another major disruption in the markets, BTC might drop down to the second green level at around $22,000. However, most anticipate strong support for Bitcoin above $20,000, making it an attractive entry point for those eyeing the potential rise in October.
While the market may seem boring and gloomy this month, it’s important to pay attention as it could mean the ultimate set-up for a strong October leading into a strong Q4 for the crypto markets.
Other Crypto news:
MetaMask enables Ethereum to fiat exchange sell feature
VISA to start utilizing USDC stablecoin on Solana blockchain for payments
Coinbase starts a brand new crypto lending platform, exclusively for US institutions!
Over 50% of Turkey’s population now invests in Crypto.
Grayscale asks SEC to "quickly approve" its spot Bitcoin ETF. Most of the next ETF decisions are set for Mid October.
Presidential candidate Vivek Ramaswamy says he is a big proponent of Bitcoin
Cathie Wood’s ARK files for Spot Ethereum ETF
Google will allow ads for NFT games starting in September
That’s all for this episode. Thanks for reading!
-Ashton Addison, CEO of Crypto Coin Show