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Happy Saturday Folks! What a week it's been and Crypto assets continue to appreciate. I don't curate news about assets that are not in the top 10 but a couple have jumped on my radar and I will include them when they get into the top 10: $MATIC and $LTC. Both of these assets saw significant appreciate due to big news stories this week. The first was META (Instagram) building a platform for NFTs using Polygon. The second was Fidelity allowing retail traders to trade $BTC, $ETH, and $LTC. Let's dive into the recap!
Monday the price of Bitcoin closed at $20,495.77 and the sentiment was neutral with a lot of speculation on which direction the market will head in November; much much from Analysts, Traders, or Strategist. The most covered news of the day was Bitcoin White Paper celebrates its 14th Birthday.
Podcast of the Day: The Sum Of Everything Divided By 21 Million w/ Knut Svanholm (Bitcoin Magazine)
Tuesday the price of Bitcoin closed at $20,485.27 and the sentiment flat as everyone awaited the Feds FOMC announcement. However, it was a disastrous news day for Bitcoin miners. The most covered news of the day was MoneyGrap app adding Bitcoin, Ether, and Litecoin as trading options; Litecoin rallied on the news.
Podcast of the Day: Bitcoin Health Insurance w/ Jon Gordon and Andy Schoonover (Bitcoin Magazine)
By Wednesday (Humpday) the price of Bitcoin closed at $20,159.50 and the sentiment was quite bullish as Bitcoin was trading above $20K all week. Bitcoin got an initial rally above $21K on the Feds FOMC announcement to raise another 75 basis points but immediately retreated back down below $21K. The most covered news of the day was Deribit Hot Wallet hack for $28MM in $BTC and $ETH.
Podcast of the Day: BTC102: Bitcoin Lightning Network Changing the Energy Sector w/ Austin Mitchell (Bitcoin Fundamentals)
Right over the hump on Thursday the price of Bitcoin closed at $20,209.99 and the sentiment was neutral but leaning positive. The most covered news of the day was Fidelity turning its attention to retail investors with new Crypto offering.
Podcast of the Day: Building The Next Layers Of Bitcoin w/ John Carvalho (Bitcoin Magazine)
As the week came to a close on Friday the price of Bitcoin closed at $21,147.23 and the sentiment was mixed as we head into the weekend. The most covered news of the day was all about $DOGE as it plunged on the news that Twitter was pausing the work on its Crypto wallet. However, it's since regained it footing and is inching higher.
Bottom line, it was a great week for Bitcoin. Moving above $20K and now trading above $21K. Even with all the negative news about hacks and bankruptcies and rising rates, Bitcoin is the Honeybadger of assets. That said, I believe a pull back to the golden $20.8K range is possible this next week before it resume higher. If that doesn't hold I could see Bitcoin finding support around $20K by the end of next week. The thought that Bitcoin will trade below the June $17.7K bottom isn't something I can fathom at this point.
WEEKEND NEWS
- Bitcoin Closes Highest Daily Candle Since September 12th (Market Watch) (CryptoPotato)
- Buying the Dip: Bitcoin ($BTC) Wallets of Varying Sizes Keep Accumulating During Bear Market (Cryptoglobe)
- Bitcoin is now less volatile than S&P 500 and Nasdaq (Cointelegraph)
- From The BPI To Treasury: Bitcoin Is A Strategic Asset for National Security (Bitcoinist)
- Crypto Exchange Exec Says Bitcoin’s ‘Boring’ Price Action Has a Silver Lining (Cryptoglobe)
- Bitcoin price prediction for December 31, 2022 (Finbold)
- Bitcoin Could Rally Another 500% On BTC Becoming Less Volatile Than The S&P 500 and Nasdaq (ZyCrypto)
- MicroStrategy’s Bitcoin Impairment Charge Eases During Q3 (CryptoPotato | Finbold)
- Quebec’s Energy Manager To Cut Supply For Crypto Mining Due To Shortage (Bitcoinist)
- In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents (CNBC)
- Bitcoin could become the foundation of DeFi with more single-sided liquidity pools (Cointelegraph)
- Lebanese Citizens Embrace Crypto, Accept Payments in USDT As The Nation Battles Intense Economic Meltdown (EWN | BIC)
- Vitalik Buterin Shares Updated Ethereum Roadmap Including Scalability Plans (BIC)
- Ethereum inches even closer to total censorship due to OFAC compliance (Cointelegraph)
- BNB Is in Massive 27% Rally, and It's Not Stopping: Crypto Market Review, November 4 (UToday)
- How XRP Will Perform This November – Crashing? Winning? (Bitcoinist)
- Crypto Community Sees Cardano ($ADA) Price Surge 27% by End of November (Cryptoglobe)
- Cardano Will Raise Bar, Community Predicts Entrant of Tech Giants Into Crypto (UToday)
- Over 60 Billion Dogecoins Purchased At Key Support As Traders Eye $1 DOGE Price (ZyCrypto)
- Google Becomes Solana Validator, SOL Ignites With 15% Increase (Bitcoinist)
- Crypto’s Rapid Growth Pushed Canada to Speed up Regulations (CryptoPotato)
- Ripple Lawsuit: US Lawyer Makes Striking Prediction on Case Resolution (UToday)
- Ripple Heading Towards Historical Win Against SEC In XRP Suit As Industry Supports Ripple En Masse (ZyCrypto | BIC)
