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Happy Saturday Folks! Goodbye "Sad September" and hello Uptober? History says that October is better than September, fingers cross it applies to 2022. Last week Bitcoin was trading around $19,073.00 and as I type it's trading around $19,268.00. Let's recap the week shall we?
Monday the price of Bitcoin closed at $19,222.67 and the sentiment appeared to lean more positive than negative. Analysts were mixed as Yusko and Poppe believed a big really was in the making. However, Vays and Merten both were seeing a big capitulation coming; possibly down to $13-14K. The most covered news of the day was California, New York, and other states taking action against Nexo.
Podcast of the Day: What Bitcoin Did: Can Bitcoin Fix the Political System? With Logan Bolinger
On Tuesday the price of Bitcoin closed at $19,110.55 and the sentiment continues in a positive way earlier in the day which then turned negative as the rally above $20K stalled and it pulled back. Analysts were all positive with Dan Morehead believing that Bitcoin will go up a ton but other projects will outperform; aka Altcoin Season. The most covered news of the day was Celsius CEO Alex Mashinsky resigning and FTX winning the auction for bankrupt Crypto lender Voyager.
Podcast of the Day: Unchained: How Will the Legal Case Against Do Kwon Play Out in South Korea?
By Wednesday the price of Bitcoin closed at $19,426.72 and the sentiment began to turn negative as the price of Bitcoin intraday continued to pull back. Analysts continues to be cautiously optimistic esp as we head into October; Credible predicting parabolic rally for Bitcoin. The most covered news of the day was Stanley Druckenmiller predicting potential Crypto "renaissance" if Central Bank faith is lost.
Podcast of the Day: Bitcoin Fundamentals - BTC097: Central Bank Digital Currencies Vs Bitcoin w/ Sam Callahan (Bitcoin Podcast)
Right over the hump on Thursday the price of Bitcoin closed at $19,573.05 and the sentiment leaned negative as Bitcoin continued to struggle under $20K. Analysts seems mixed with DonAlt calling for XRP rally and Pizzino saying Alts could crash up to 60% in the next 12 months. The most covered news of the day was USDC chain expansion being part of a "multichain" vision.
Podcast of the Day: Bitcoin Audible: Read_658 - Bitcoin Will Replace SWIFT Before VISA [Shinobi]
As the week came to a close on Friday the price of Bitcoin closed at $19,431.79 and the sentiment leaned more positive as Bitcoin made a late day push higher back above $20K before losing it as the month closed. Traders indicated that $19K is the line in the sand, if Bitcoin can remain above it - happy days are here again and if not? Complete disaster. The most covered news of the day was MicroStrategy looking to hire software engineer for building Bitcoin Lightning Network infrastructure, Ripple securing another win, and Binance scoring regulatory approval in New Zealand.
Podcast of the Day: The Scoop: zkSync head of product: Ethereum learning to scale will be like 'coming out of Plato's cave'
So there ya have it folks, from $19,073.00 to $19,268.00 - basically didn't move right? As you can see the sentiment moves up and down as the price moves and if we zoom out, all is good right? If you are Following Dat Money - $10B moved or is moving toward Digital Asset and projects with BlackRock launching a new ETF. All signs points toward continued adoption and lots of work is being done on the regulatory side. In a year from now things will look much different. Let's revisit then shall we? Enjoy your weekend!
WEEKEND NEWS
- Janet Yellen’s Reign as US Treasury Secretary: Her Impact on Crypto (CryptoPotato)
- Three top cryptocurrency stories from the past week (TB)
- This Week in Coins: Bitcoin, Ethereum Escape Broader Market Slide (Decrypt)
- Bitcoin trading volume hits 3-month high as investors abandon fiat (Finbold)
- Weekend Watch: Bitcoin With Another Failed Attempt at $20K (CryptoPotato)
- So what if Bitcoin price keeps falling! Here is why it’s time to start paying attention (Cointelegraph)
- What is wrapped Ethereum (wETH) and how does it work? (Cointelegraph)
- Is Bitcoin Really Decoupling From Stocks? Experts Weigh-In (Decrypt)
- XRP Shows Explosive Price Performance, Becomes Most Profitable Asset: Crypto Market Review, September 30 (UToday)
- $XRP’s Social Media Activity Surges to 3-Month High As Ripple, SEC Seek Ruling in Legal Battle (Cryptoglobe)
- Institutional Investors Short $BTC While Betting on $XRP, $ADA, and Multi-Asset Products (Cryptoglobe)
- Solana back online following latest network outage (Decrypt | BIC | TB)
- What is the economic impact of cryptocurrencies? (Cointelegraph)
- Robert Breedlove: Former Hedge Fund Manager Predicts Bitcoin ($BTC) Will Trade at $12.5 Million in a Decade (Cryptoglobe | Finbold | Bitcoinist)
- Michael van de Poppe: Major Bitcoin Price Advance Expected This Month, Analyst Says (Bitcoinist)
- InvestAnswers: Bitcoin (BTC) Is Primed for a Bullish October Based on One Metric, According to InvestAnswers (TDH)
- Arthur Hayes: BitMEX Founder Says Ethereum Rivals Facing Big Fundamental Challenge in Midst of Crypto Winter (TDH)
- David Rubenstein: Billionaire Says Crypto Is Not Going Away As ‘Some People Thought’ (TDH | Cryptoglobe)
- Michelle W. Bowman: Federal Reserve governor says crypto activities ‘raise a number of significant issues’ (Finbold)
- US senator bill seeks to cushion crypto exchanges from SEC enforcement actions (Cointelegraph)
Disclaimer: If you take anything I post as financial advice that's on you boo! I curate news information daily (with the knowledge I've acquired since 2011) to provide you a view of what is happening around the Digital Asset space. If YOU decided to buy, hold, or trade Digital Assets as a result of reading what I've posted, that is YOUR decision and this isn't advice. You should discuss any investments with your financial advisor and if you don't have one, find one.
