Crypto Long & Short: The Christmas Poem Edition

In a departure from our usual Crypto Long & Short format, in honor of the holiday season, I’ve written a poem that reviews the year and reflects some of the progress made in our industry. It’s not rigorous analysis, but I hope the change in rhythm lightens the festive period.

Go ahead and laugh, but may I say in my defense that “good at rhymes” was not in my original job description.

A Cryptomas Rhyme

‘Twas the day after Christmas. Instead of some rest

I decided to review how we had progressed.

In January, headlines screamed military tension.

Bitcoin as “safe haven” attracted attention.

The ructions in March did much to dispel

The “safe haven” myth as all prices fell.

“Black Thursday” also highlighted the danger

Of too much leverage. But things would get stranger.

We all soon grew aware of the threat of a new

Type of virus that spread. It was not “just the flu.”

As April drew round, we saw a new correlation

Between bitcoin and stocks, and a dip in inflation

As spending dried up. But the biggest shock

Was a negative oil price from way too much stock

And not enough storage. Uncertainty spread

As markets digested the changes ahead.

The official response to the looming crash

In incomes and output was to print more “cash.”

The ballooning supply of fiat to spend

Was in sharp contrast to a cap that won’t bend.

And with perfect timing did the network remind

Us that every four years the new issue declined.

The halving in May during our big event

Highlighted supply rules we can’t circumvent.

In June prices held. Volatility dropped.

The spread of the virus could not be stopped.

Nor could the rise of the prices of stocks

That used tech to help people weather the shocks

Of a new way of working and seeing their friends,

In spite of the cuts in yields and dividends.

The summer saw two new trends gather speed:

Services to satisfy institutional need

And decentralized finance had surprises in store:

A surge in the volume of trading on some

Of the platforms that had names that would…

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