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It's Saturday Folks! Third week in 2023 and Bitcoin has gone parabolic! Bitcoin is back! Brian Swan (FiboSwanny) last month said Bitcoin could reach $35K possibly in April; even $30K in Feb; he's almost nailed it once again. But before we get to excited, what goes up, must come down - down when, that is the question. Let's recap the week, shall we?
Monday the price of Bitcoin closed at $21,169.63 and the sentiment continued to be positive from last week. The most covered news of the day was Coinflex saying that their new exchange with 3AC founders won't use GTX name after Twitter ridicule.(5) FTX? GTX? silly attempt to be funny.
Podcast of the Day: 153 - Why Crypto is Underrated with Tyler Cowen | Bankless
Tuesday the price of Bitcoin closed at $21,161.52 and the sentiment remained about the same as the day before. The most covered news of the day was Silvergate posting $1 billion loss as crypto industry suffers a 'crisis of confidence;' shares jump pre-market.(6) You would have thought this might knock the market around but it did the opposite.
Podcast of the Day: Who Owns Your Coins? | Bloomberg Crypto
By Wednesday (Humpday) the price of Bitcoin closed at $20,688.78 and the sentiment still rocking positive. The most covered news of the day was Coinbase closing down operations in Japan; following Kraken.(4)
Podcast of the Day: Bitcoin at $21K: Bull Trap or Ooo Baby We're Back? | The Breakdown
Right over the hump on Thursday the price of Bitcoin closed at $21,086.79 and the sentiment was still going positive. The most covered news of the day was FTX CEO fought to keep lawyers - as calls for removal intensify and said he is exploring rebooting the FTX exchange; FTT token price soars.(5)
Podcast of the Day: Bitcoin Developer Education Overview with Josibake | Stephan Livera Podcast
As the week came to a close on Friday the price of Bitcoin closed at $22,615.34 and the sentiment was hella positive. The most covered news of the day was Nexo paying $45 million to settle SEC and state charges for failing to register lending product; Former SEC Official Blasted the deal.(6)
Podcast of the Day: How Matthew Roszak & Jeff Garzik Are Building A Super Empire In Crypto | Live Panel | The Wolf of All Streets
Bottom line: As I type Bitcoin is trading at $22,902.00; gained $1,445.71 for the week (M-F.) Nothing fundamentally still hasn't changed about Bitcoin's code, the network, or anything of substance. So what changed? Some say this run, which many said was a BULL TRAP (NOT) is the result of a massive short squeeze. That is when folks are betting against an asset borrows the asset and the asset begins to rise and to limit their loss they buy the asset back; pushing it higher and higher. As I mentioned above - at some point this will pull back but it appears we might make it to $30K before we get that pull back. Buckle up and enjoy the ride, it's about to get crazy.
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.
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Podcast of the Week: Bitcoin at $21K: Bull Trap or Ooo Baby We're Back? | The Breakdown
WEEKEND NEWS
On-Chain metrics flashing Crypto market bottom signals, but the macro environment is still wobbly: IntoTheBlock. The US Government wants you to know it's cracking down on Crypto. Crypto to play 'major role' in UAE trade: foreign trade Minister.(2) Going cashless: Norway's digital currency project raises privacy questions.
Bitcoin surges past $22k triggering another $250 Million in liquidations; now over $23K with indicators that say the market is not overheated; dead cat Bounce?(7) Bitcoin due new 'big rally' as RSI copies 2018 bear market recovery.
$4.6 Billion in Ethereum Up in Flames Since EIP-1559 and Ethereum is on the Verge of a huge milestone following bullish start of 2023. Ripple CTO Weighs In on Upcoming Ruling in SEC Lawsuit, Says $XRP Fits the Definition of a ‘Commodity.’(2) David Schwartz says "I wish ripple had given away more $XRP." Ripple v. SEC: CryptoLaw Founder Responds to $XRP Haters About SEC's "Security" Argument.
Cardano ($ADA) might become 10x more resource-efficient with this release. Did half of Cardano network nodes actually go offline? Here's what happened. Polygon teams up BitGo after a controversial hardfork upgrade. Total number of developers on Solana grew 83%.
Binance's SWIFT banking partner set to ban USD transfers below $100K.(2)
Nearly $700 million of Bankman-Fried's assets seized by Feds: CNBC.(3) A car crashed into the barricade of SBF’s current home. First Hearing in Genesis Bankruptcy Case Set For Monday. Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy.
