"Don't judge each day by the harvest you reap but by the seeds that you plant."
–Robert Louis Stevenson
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Happy Saturday Folks! Last week the price continued to be flat - trading in a very tight range. Typically the longer the range the stronger the breakout up or down. As I type Bitcoin is trading at $29,412.40 and for the week (M-F) Bitcoin was up $217.13; week over week it's up $369.65. The best performing asset in the past 7 days was $SOL - up 7.50% in position #9 on Coinmarketcap.com. Last week the Fear and Greed Index was at 50 and today it's 54; still neutral.
While there is news, nothing is really rising to the surface of being "big" news so to speak. This week of course the top covered news was about the Spot Bitcoin ETF and the SEC did what we figured they would do, delay. Was this just a way to ensure that the BlackRock ETF would be the first to receive approval? Yes, the PayPal Stablecoin launch did keep journalist writing and podcast host chatting about it, along with the legislators trying to figure out what to do about this growing industry. According to CapHillCrypto, the Federal Reserve ("Fed") announced the creation of a new program to supervise crypto-related activities and said that state member banks need Fed approval before they can engage in stablecoin-related activities.
Cardano seems to have moved up as it's total value locked exploded nearly 200% since the beginning of the year; still the price remains suppressed. Lastly, Coinbase's Base network officially launched and is open for builders only; $166M has flown into the project.
Podcasts this week covered, Bitcoin price analysis, how to earn Bitcoin for work, update from the Digital Chamber of Commerce, and Tether still having to defend itself from the rest of the Crypto community.
Thanks for reading, watching, and listening with me each and every week!
THE WEEDS
Monday the price of Bitcoin closed at $29,180.58 and the most covered news of the day was PayPal launching its own crypto stablecoin on Ethereum.(5)
Podcast of the Day: Bitcoin To Go Up By 100% A Year & The Real Reason Why BlackRock Invests In Bitcoin | Preston Pysh | TWOAS
Tuesday the price of Bitcoin closed at $29,765.49 and the most covered news of the day was Cardano ($ADA) has seen its total value locked (TVL) explode nearly 200% since the beginning of the year.(5)
Podcast of the Day: SLP499 Earning Bitcoin & Remote Working - Jonathan Chester, Bitwage | SLP
By Wednesday (Humpday) the price of Bitcoin closed at $29,561.49 and the most covered news of the day was the first spot Bitcoin exchange-traded fund (ETF) could be approved sometime before February 2024.(3)
Podcast of the Day: BTC142: Bitcoin Policy Update Q3 2023 w/ Perianne Boring | Bitcoin Fundamentals
Right over the hump on Thursday the price of Bitcoin closed at $29,429.59 and the most covered news of the day was Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase and nearly $166 million had already flowed to the blockchain ahead of the official launch of Base.(5)
Podcast of the Day: Bitcoin Short Squeeze! Bears In Trouble? | TWOAS
As the week came to a close on Friday the price of Bitcoin closed at $29,397.71 and the most covered news of the day was the Securities and Exchange Commission asked for new written comments on a proposed spot bitcoin application from ARK Invest and 21Shares in an apparent delay.(7)
Podcast of the Day: #255: Paolo Ardoino, CTO of Tether, on $USDT Fud and Tether’s Diversification into Energy | Cryptonews
LISTEN
The Massive Significance of the PayPal Stablecoin
WEEKEND NEWS
During a recent podcast interview, MicroStrategy’s Michael Saylor expressed the opinion that large corporations purchasing and holding Bitcoin in their custody should not be a cause for concern.
Former Binance.US CEO Brian Brooks believes clear stablecoin regulation benefits the U.S. dollar — even though regulators aren’t major proponents.
Solana (SOL) has managed to shake off recent price dips, rekindling bullish optimism among investors. This resurgence comes on the heels of a determined effort by sellers to flip the altcoin’s trajectory bearish, following a price rejection at the critical $29 resistance level.
U.S. crypto exchange Coinbase took a big leap forward in its ongoing legal tussle with the SEC when notable individuals and organizations joined the case as amici.
Sources:
Saylor and Bitcoin (Cointelegraph)
Stablecoins (TB)
Solana (NewsBTC)
Coinbase Vs SEC (UToday | Cointelegraph)
