Welcome to the Flarnchain Newsletter, brought to your inbox each and every week like an atomic clock. As we near the end of April and a week has transpired since the last newsletter (newsletter #167), I'm coming to terms with the fact that only about one to two hours of effort each night is sustainable. This weekend I made a huge push on Friday and Saturday night to complete a project I've been working on, and that effort took it's toll later - I had zero motivation to work on my project on Sunday, Monday, and Tuesday of this week.
Thankfully, Tuesday night, which is when I prepare the multi-message transaction that distributes the royalties wallets to all of the artist collaborators on Proto Towers, was relatively straightforward due to the fact that I built this:
Before I built the above utility, it took me about 1 hour to prepare the transaction and then execute it on the Stargaze blockchain. Now that I have this thing working, it takes about 1 minute. That's really cool. I've been working on that utility for about 3-4 weeks, about 30 minutes per night. It's now finished, so now on Tuesday nights I have more time to work on other stuff. The problem is when I overwork myself on a weekend night, such as last Friday night, and end up super exhausted and unmotivated after a full day of toiling in the fiat mines. I need to be aware of this and pace myself accordingly. It is after all, a marathon, not a sprint.
Anyways, enough of that, let's talk about the markets.
The markets
This week seems to have been mostly up, especially compared to the "black swanberus" that was last week, this week feels a lot more bullish, but not full on bull vibes. I feel like this week resembled what often times I would call a bunny market (sort of skittish, fast moving, bouncing around a bit), but it also feels like it's gearing back up into bull market territory.
Let's take a quick look at the 7 day chart for Bitcoin to catch our immediate bearings:
Let's also zoom out a bit to see what the 90 day chart looks like:
It appears that Bitcoin has found a strong floor at $60k. When an asset price continues to bounce off a floor, that floor is known as "support" ~ as in "Bitcoin continues to find support in the $60k range" or some other such nonsense.
The overall crypto market is sitting at around $2.4 trillion market cap, which is actually quite low compared to previous weeks. I actually think this looks like a good entry point for people on the sidelines, as market caps are low and we are now a few days post halving. The supply shock caused by reducing the supply of new Bitcoins by 1/2 may take a few weeks to accumulate to the point that we get insane price action. Time will tell.
Market Animal
This week's market animal is going to be another three-headed animal, because I'm still working on the puppy cerberus colllection. I was hoping to be finished by now, but That's just the way things work... things always take longer than I expect. Always.
Because Bitcoin is up 4.5%, that feels bullish, so let's try to draw a bullberus (🐂🐂🐂), which is a three-headed bull.
Okay that drawing actually took me a lot longer than expected, so let's end the newsletter here.
Hope you have a nice rest of your week!
Cheers,
-Flarn
🤘🤘
