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$BTC Weekly Timing Where Low "Could" Be In FIBOSWANNY

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Guess what day it is? Humpday! Folks, slow and steady, once again the news is somewhat quiet and thank goodness there are only 2 stories about the FTX Fiasco, the cycle is dying down. Yesterday we saw a few stories get a lot of coverage and the top one was Ledgers new Stax Wallet created by the "father of the iPod." Next was the mining difficulty dropping the lowest in 2022 and Strike enabling payments in 3 countries in Africa. Lastly, Warner Music Group (WMG) releasing Polygon music NFT through LGND platform. 

Today, U.S. Lawmakers are proposing new rules about disclosing Crypto payouts and rewards that are made by the State Department. Bitcoin price is struggling to maintain $17K but it is in a tight trading range above the 20 day SMA. If it can hold and bounce, again I believe we see $20K before $10K. That said, there are two predictions that are vastly different: Wolf of Wall Street believes Bitcoin will see $5K and Tim Draper is tripling down on his $250K by June of 2023; very irresponsible.

Indicators point to this being the bottom - time will tell.  Meanwhile, Michael Saylor says Ethereum is an "unregistered security" but the Wolf of Wall Street says you should buy it.  

WATCH

LISTEN

Podcast of the Day: The Real Impact of the IMF & World Bank w/ Alex Gladstein & Sam Callahan | Bitcoin Fundamentals

SOURCES

CRYPTO MARKET

• Michael Saylor on Why Altcoins (Especially Ethereum) Are ‘Unregistered Securities’ and Should Be Shut Down by U.S. SEC (Cryptoglobe | Bitcoinist | ZyCrypto | TDH)
• U.S. Lawmakers Propose Crypto Payout Disclosure By State Department (Bitcoinist | Cointelegraph | Coindesk | TB | Coindesk)
• Crypto Markets Show Extreme Correlation As Prices Remain Stuck Sideways (Bitcoinist)
• Stay Away From Everything but Bitcoin and Ether: The Wolf of Wall Street (CryptoPotato)
• Exploring Biden’s Executive Order on Crypto, 6 Months In (Coindesk)
• Biden to Speed up Crypto Regulation as UN Warns of Induced Recession (BIC)
• Gate.io pledges $100M to revive crypto and rebuild investor confidence (Cointelegraph)
• Institutional investors still eye crypto despite the FTX collapse (Cointelegraph)
• Attacker Targets Wealthy Crypto Funds Using Telegram Chats (Coindesk)
• Crypto ATMs market to grow 60% by 2030, exceeding $5 billion despite volatile markets (Finbold)
• Into the storm: The murky world of cryptocurrency mixers (Cointelegraph)
• "Deal of the Year": New Elon Musk Crypto Scam Targeting Twitter Users (UToday)
• Mazars says users' BTC reserves on Binance are fully collateralized (Cointelegraph)
• Cryptos Flat as Recession Fears Outweigh Improved US Labor Productivity (BIC)
• Crypto consumer protection, proof of reserves bills introduced into US Congress (Cointelegraph)
• Crypto will be regulated as securities — ICE boss and Senator Warren (Cointelegraph)
• Gensler Says SEC Is Fine Going After Crypto With Its Current Authority (Coindesk)
• Ex-CFTC Chair: Crypto Regulation Could Be Joint SEC, CFTC Effort (Blockworks)
• ECB official proposes ban on tokens with an 'excessive ecological footprint' (Cointelegraph)
• Canadian pension fund ends crypto research effort: Reuters (TB)

BTC

     Price

• BTC price hits new December low as Bitcoin dips 2% with Asia stocks (Cointelegraph | UToday | CryptoPotato)
• As Bitcoin Crime Drops to Historic Lows, Is It Time Legacy Banks Got Their Act Together? (BIC)
• Bitcoin options data shows bulls aiming for $17K BTC price by Friday’s expiry (Cointelegraph)
• Bitcoin Bullish Signal: Exchange Whale Ratio Sharply Declines (NewsBTC)

     Voices

• Here’s When Analysts Think the Crypto Bull Market Could Finally Start (BIC)
• Bitcoin Will Hit $5,000 in 2023, Says Standard Chartered – But Is It Realistic? (BIC | Cryptoglobe)
• Tim Draper predicts bitcoin will reach $250,000 next year despite FTX collapse: ‘The dam is about to break’ (CNBC | Cryptoglobe)
• Online Blockchain CEO Clem Chambers warns Bitcoin may crash to $8k as ‘FTX crisis is unresolved’ (Finbold)

     Indicators

• Bitcoin indicators hint at bottom and BTC bull run in the cards (Finbold)
• ‘Bitcoin Rainbow’ indicator consolidates at lowest point as BTC aims to reclaim $17k (Finbold)

     Mining

• Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North (Coindesk)
• Bank of Russia wants to ban miners from selling crypto to Russians (Cointelegraph)
• Largest Eurasian BTC Mining Hub in Kazakhstan Tightens Rules for Miners (UToday | TB)
• Bitcoin Miners Feel The Heat, More Selling Pressure Might Be Imminent (NewsBTC)

ETH

• Ethereum Price Won’t Go Down Quietly: Risk of Bounce Grows (NewsBTC)
• Ethereum strongly outperforms Bitcoin in the second half of 2022, data reveals (Finbold)
• US Sen. Cynthia Lummis: Ether Is Now a Security; My Bill Might Have Stopped FTX (Coindesk)

XRP

• XRP Price Prediction: Bears Struggle, Time To Buy The Dip? (NewsBTC)
• Ripple Will Lose Against SEC, Crypto Executive Claims (UToday | ZyCrypto)
• Will XRP Be Deemed a Security and Is Regulating Crypto the Only Way for Transparency? (BIC)
• Pro-XRP Lawyer Says Gary Gensler Could Trigger Another 50% Crypto Market Crash (TDH)
• XRP sheds almost $5 billion from its market cap in a month despite positive Ripple lawsuit news (Finbold)

DOGE

• Dogecoin Social Numbers Jump As Elon Musk’s Twitter Unbans Suspended Accounts (Bitcoinist)

CARDANO

• Cardano Founder Explains Why Project Hasn't Penetrated Indian Markets Much (UToday)
• First Cardano (ADA) DEX MuesliSwap Pioneers Organic APR Concept (UToday)
• Cardano’s MuesliSwap introduces ‘organic APR,’ drawing praise, criticism (Cointelegraph)

MATIC

• Polygon Network Growth Slumps, Where Will MATIC Price Go? (BIC)
• Polygon (MATIC) Slammed by Solana Cheerleader for Centralization and Low TPS, Co-founder Responds (UToday)

Other Podcasts

• Is This the Endgame? with Itay Vinik | Bankless
• Fighting the Bitcoin Mining FUD with Troy Cross | What Bitcoin Did
• Crypto market has experienced an 'education by fire,' says Loomdart | The Scoop
• Goldman’s Going on a Crypto Company Buying Spree, but Is That Good for Crypto? | The Breakdown
• Read_682 - Data Shows That Lightning Solves Scaling [Kozlovski] | Bitcoin Audible
• #1133 Frank Chaparro On The FTX Fallout | The Pomp Podcast
• Doomberg & Ben Hunt: The Story Arc of SBF, FTX & Alameda | On The Margin
• Building Bitcoin on Twitter with Tweetoshi - December 6th, 2022 | Cafe Bitcoin
• Dec 7: SFB’s Fake Lotion, Fertility, & Strawberry Empire 💦 | Decrypt Daily
• John Palmer (CBOE Digital) on Regulated Digital Asset Derivatives | On The Brink
• #381: Q3 2022 Monetary Base Update with Matthew Mežinskis | TFTC
• Bold Bitcoin: A Bitcoin Credit Card - "Making It Easier For You To Use Your Bitcoin Day to Day" with John Ely - December 7th, 2022 | Cafe Bitcoin

FTX FIASCO

• Crypto Bank Silvergate Asked to Detail Records of Purported FTX Ties (Blockworks)
• Was the fall of FTX really crypto’s ‘Lehman moment?’ (Cointelegraph)
• Rep. Torres asks US GAO to investigate SEC ‘failure’ to protect public against FTX (Cointelegraph)
• Be Patient: Sam Bankman-Fried Could Go to Prison for a Very, Very Long Time (Coindesk)
• Genesis Withdrawal Freeze Has No Imminent Solutions, Says Interim CEO (CryptoPotato | Cointelegraph)
• Mastercard executive sees FTX collapse as 'time to reset' for crypto: TechCrunch (TB)
• Venture Capitalist Kevin O’Leary Says He Plans To Recover Lost Funds From FTX Collapse After Full Investigation (TDH)
• Robinhood gaining crypto market share after FTX collapse, CEO says (TB)
• SEC Boss Addresses Meeting With FTX Founder But Avoids This Critical Question (Bitcoinist)

• Gensler ‘Singularly Responsible’ for Failing To Expose FTX Fraud, Rep. Says (Blockworks | Decrypt)