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It's Saturday Folks! February is here and Bitcoin continues to want to push higher it seems, the Fed raising the interest rates just 25 bps and the tone from Jerome Powell seemed to ignite the market. It appears the concern now is that inflation will continue to heat up, possibly causing the Fed to reverse course and raise interest rates higher but can they? Let's review the week shall we?
Monday the price of Bitcoin closed at $22,840.14 and the fear and greed index was 61. The most covered news of the day was Elon Musk wants Twitter payments system to accommodate Crypto: FT(5)
Podcast of the Day: Top Republican lawmaker explains how Congress is warming up to crypto | The Scoop
Tuesday the price of Bitcoin closed at $23,139.28 and the fear and greed index was 51. The most covered news of the day was the SEC settled on security claim in LBRY case, community calls it a big win for crypto.(7)
Podcast of the Day: Hawks vs. Bulls: The Fed Clashes With Optimistic Investors | The Breakdown
By Wednesday (Humpday) the price of Bitcoin closed at $23,723.77 and the fear and greed index was 56. The most covered news of the day was United Kingdom to regulate Crypto industry following FTX crash.(8)
Podcast of the Day: The Power to Mint Money | Bankless
Right over the hump on Thursday the price of Bitcoin closed at $23,471.87 and the fear and greed index was 60. The most covered news of the day was Bitcoin broke above $24,000 for the first time in 2023 and Crypto market cap jumps $40B as Fed chair Powell hints at 'disinflation.'(6)
Podcast of the Day: "It's 2021 All Over Again" | Jim Bianco | On The Margin
As the week came to a close on Friday the price of Bitcoin closed at $23,449.32 and the fear and greed index right about 60. The most covered news of the day was Binance returned to South Korea to ‘Rebuild’ the local Crypto industry by buying a major stake in GoPax.(4)
Podcast of the Day: Jerome Powell Finally Believes He Might Actually Get His Soft Landing | The Breakdown
Bottom line: As I type Bitcoin is trading at $23,544.47; gained $609.18 for the week (M-F); an improvement over last week.
Well that is a wrap folks, if you'd like to be in the know throughout the day, join me on Wubits where I am constantly sharing my thoughts about the Crypto market and personal development type topics. It's a community where you can meet REAL people, make REAL connections, and have REAL conversations. Thanks again for reading, watching, and listening with me.
WEEKEND NEWS
Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader. Is it possible to achieve financial freedom with Bitcoin? London emerges as world’s most crypto-ready city for business — research.(3) Cardano's network major upgrade nears. The world must take a ‘collective action’ approach to regulations — India’s finance minister. Seven-member committee to represent creditors formed in Genesis Global's bankruptcy case. FTX-tied townhouse in Washington DC unlisted.
