"Vision is the art of seeing what is invisible to others."
–Jonathan Swift
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Top Performing Assets (7 Days): $AVAX 32% | $SOL 29% | $BNB 22%
Happy Saturday Folks! As I type Bitcoin is trading at 67,817. Bitcoin is down $2,417 M-F and week over week it's down $725.00. Last week I thought it would be over $80K but now it seems $65K before $75K. The best performing asset last week was $SHIB - up 55% in position #9 on Coinmarketcap.com. Last weeks ago the Fear and Greed Index was at 84 and today it's 81; that is good.
MY HOT TAKE
Will this pull back be short lived? Now the question becomes will Adam Back be correct in calling for $100K before halving day which might occur right around my birthday; current day shown by Nice Hash is April 27, 2024 (my mom's birthday) and Bitbo shows April 15, 2024. Somewhere between those two dates is probably when it will happen - some hope it will be on 20 April (4/20 day).
Most covered news of the week was about MicroStrategy completing their purchase of not $700M worth of Bitcoin, but $800M and they've announced they are raising another $500M to buy more. This week didn't have a lot of the same news being covered so not much was really trending.
There were a lot of really good Podcasts and I'd recommend listening to Peter interviewing Samson Mow about the case for $1M Bitcoin. Well that is a wrap for me folks, until next weekend Be Smart. Be Safe. Stack Sats. HODL!
THE WEEDS
Monday the price of Bitcoin closed at $71,670.10 and the most covered news of the day was MicroStrategy announced that it has completed its previously announced offering of 0.625% convertible senior notes due 2030 on March 8, 2024 and bought another 12,000 $BTC after raising over $800M from those convertible notes.(6)
Podcasts of the Day: #488: Freedom Money Will Revive Rural America with Dr. Brooke Miller | TFTC
Tuesday the price of Bitcoin closed at $72,074.40 and the most covered news of the day was Bitcoin whales "increasingly cashed out," but the number of new “millionaire” wallets for Bitcoin (BTC) has risen to about 1,500 daily after the cryptocurrency’s price surged to $72,000 recently. However, this increase is modest compared to the daily creation of new millionaires during the previous bull market.(2)
Podcasts of the Day: Billionaire Bill Ackman Looks At Bitcoin at $72,000 | The Breakdown
By Wednesday (Humpday) the price of Bitcoin closed at $73,237.70 and the most covered news of the day was Arizona lawmakers cited rapid growth of the Spot Bitcoin ETFs as a reason to add them to retirement portfolios.(3)
Podcasts of the Day: The Case for $1 Million Bitcoin with Samson Mow | WBD
Right over the hump on Thursday the price of Bitcoin closed at $68,937.10 and the most covered news of the day was Bitcoin had hit yet another high, tapping $73.8K and beware of Bitcoin's 'rising wedge,' says Josh Olszewicz which tends to be bearish but if a pull back does happen it will prob be short lived.
Podcasts of the Day: Bitcoin Hits New All-Time High & Will "Eat" Gold | TWOAS
As the week came to a close on Friday the price of Bitcoin closed at $69,253.80 and the most covered news of the day was Bitcoin had fallen to its lowest levels in over a week, but BTC price optimism was anything but fading.
Podcasts of the Day: ETH Dencun Upgrade Transforms Blockchain Fee Competition | The Breakdown
WEEKEND NEWS
Ali Martinez sees the $64,750 to $66,700 range as a first support zone, followed by the range between $60,760 and $62,790, if the first one is lost. On the other hand, Martinez considers the $70,180 to $71,340 range as Bitcoin’s current resistance level. Grayscale has updated it's $ETH ETF application.
