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Follow Dat Money | Crypto Projections
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Happy Saturday Folks! Last week we saw Bitcoin lose $2,110.72 and this week it lost a little more; Saturday to Saturday it's flat. The best performing asset in the past 7 days was $XRP - up 9.45% and is in position #6 on Coinmarketcap.com. Last week the Fear and Greed Index was at 48 and today it's 48; if that doesn't say flat I don't know what does.
Most covered news this week was Paul Tudor Jones making his statements about Bitcoin and how long he's held it and Ripple getting a major win in the XRP case against the SEC. The Podcast of the Week would have to go to The Bitcoin Magazines interview with Joe Burnett on saving wealth at scale and the Hyperbitcoinization.
Monday the price of Bitcoin closed at $27,192.69 and the fear and greed index was 50. The most covered news of the day was Billionaire Paul Tudor Jones Says Bitcoin Is Less Attractive Now but he will stick with it; recession looming but stock market to end the year higher.(7)
Podcast of the Day: SLP478 Debunking Digiconomist on Bitcoin Mining with Ben Gagnon | SLP
Tuesday the price of Bitcoin closed at $27,036.65 and the fear and greed index was 54. The most covered news of the day was Celsius moves $900 million in stETH as Lido Finance enables withdrawals.(6)
Podcast of the Day: The Power of Bitcoin: Joe Burnett on Saving Wealth at Scale & Hyperbitcoinization" | TBM
By Wednesday (Humpday) the price of Bitcoin closed at $27,398.80 and the fear and greed index was 50. The most covered news of the day was Major win for Ripple as judge denies SEC’s motion to seal Hinman documents and Brad Garlinghouse celebrates; XRP jumps 8%.(7)
Podcast of the Day: BTC130: Inscriptions & High Fees On Bitcoin L1 w/ Tuur Demeester | Bitcoin Fundamentals
Right over the hump on Thursday the price of Bitcoin closed at $26,832.21 and the fear and greed index was 51. The most covered news of the day was FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy.(4)
Podcast of the Day: Ledger Recover Announcement Leads to Massive Crypto Uproar | The Breakdown
As the week came to a close on Friday the price of Bitcoin closed at $26,890.13 and the fear and greed index right about 48. The most covered news of the day was Bitcoin price retests key support as Fed rate hike fears steal $27K; Bitcoin drops 3%.
Podcast of the Day: Bitcoin Vs. US Debt Ceiling | Live Panel With S&P Global DeFi Team | TWOAS
Bottom line: As I type Bitcoin is trading at $26,886.85 and for the week (M-F) Bitcoin lost $302.56. We continue to waiting for Bitcoin to break the $30K level once again; it appeared it might have happened this week but no. Today is day two of the Bitcoin Conference in Miami and I encourage you to turn in.
My belief continues to be that no matter what happens I will be okay. Which means, have enough at play to move the needle if the market pops, have some dry powder if it drops, and remain calm and move on if it goes sideways. Keep buying the dip, be smart, stay safe, stack sats, and HODL as "Matty Sats" would say!
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
Which direction Bitcoin goes is still anyone's guess. Will a recession ever happen? My friend Samson Williams used to tell me in 2018 that a recession was coming. Maybe? Of course if the market does crash, Mike McGlone of Bloomberg believes Crypto will too. However, Santiment seems to believe Bitcoin heads higher. So, what we must not miss is that FOMO is gone and now investors and portfolio managers are looking at Bitcoin as a serious venue.
At Bitcoin Miami 2023 lots of announcements were made including RFK Jr. saying he will accept Bitcoin donations for his Presidential campaign. In addition, he said the government shouldn't be able to restrict the Bitcoin in your personal wallet the way they appear about to do to the cash in your bank account.
It appears that Bitcoin miners have dumped $55M worth of $BTC amid price drop to key support level. At Bitcoin Miami 2023 conference, the Ordinals panel was a bit weird and the fees they talked about have increased 700% from April.
Will congress eventually approve a CBDC? I believe they will have to - it's evolution. The US can't maintain a paper currency while the rest of the world shifts 100% digital. Even better, when other countries like El Savlador and Indonesia is entertaining Bitcoin, will $USD remain the global reserve currency? The sheer lack of clarity around regulation is enough to keep the US on it's heels and lawmakers are demanding clarity from the regulators. Meanwhile, the US government is one of the largest Bitcoin whales. In addition, we are watching other countries de-dollarize and Jeremy Allaire highlights this.
Jack Mallers continues to change and remain the same as STRIKE moves it's HQ to El Salvador; it can now reach 3B people globally. If you are not using STRIKE I highly recommend it and if you use my referral code you will get $5. https://invite.strike.me/XAZBGR. Everyone making a big WHO-HA about Ledger's recently move to allow the recovery of seed phrase says there is no backdoor in "recover" firmware upgrade; the main question will be can you TRUST ledger.
Binance's partner Latam Gateway has been granted a license to operate as a payment institution and electronic money issuer in Brazil.
Things continue to look good for Ripple as the Supreme Court supports Ripple's argument in the SEC case, backs law adaptation. LISTEN to NLW talk about it. Some are questioning could this newly released document tip the balance? Remember 3AC, the hedge fund that was right in the middle of the CeFi collapse? Well it just fetched $2.5M at auction. One thing is certain: TAXES! Experts share best practices while we wait for IRS guidance.
I continue to tell folks to be careful playing with obscure platform, DeFi, and other assets because $3M worth of customer funds was swiped via alledged Swaprum DEX rug pull. Two men got life sentences in Vientam for committing a $1.5M Crypto theft. Lastly, a guy was hiding $500K in Bitcoin from his wife in a divorce proceeding.
