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FOLLOW DAT MONEY! $9B
Monday the price of Bitcoin closed at $19,550.76 and the sentiment was bearish with news about mining, the Grayscale ETF discount, and acceptance by McDonald's in Switzerland - Pub in the UK. The most covered news was the new Mastercard program looking to offer Crypto capabilities to banks.
Podcast of the Day: The Scoop - The “culture of excess” in crypto lending is over
Tuesday the price of Bitcoin closed at $19,334.42 and the sentiment was mixed. Analyst, experts, and traders were mixed as well. PlanB talking about an epic rally, McGlone claims Bitcoin is at its "most discounted," and Vays believes a "nasty" bearish pattern is forming that could trigger a breakdown to levels last seen in Q2 of 2020. The most covered news of the day was the EU to release a draft law clamping down on Bitcoin over energy consumption.
Podcast of the Day: Do Kwon of Terra: 'It Was Never Really About Money or Fame or Success' (Unchained)
By Wednesday (Humpday) the price of Bitcoin closed at $19,139.54 and the sentiment was bullish. Investors, analysts, executives, and reports hinted to more upside than downside. 100x to $2MM, parabolic rally, adoptions "moving very fast," and Bitcoin is insurance was the going theme. The most covered news of the day was Grayscale Bitcoin fund getting backing from Blockchain association and Coinbase in their battle with the SEC.
Podcast of the Day: The Truth About Institutional Crypto Adoption | Matthew Trudeau, Chief Operating Officer At ErisX (The Wolf of All Streets)
Right over the hump on Thursday the price of Bitcoin closed at $19,053.74 and the sentiment was leaning more bullish. Other news consisted of Whale activity, acceptance, mining, and ETF. The most covered news of the day was Fidelity offering $ETH custody and trading.
Podcast of the Day: The 7th Property - Bitcoin and the Monetary Revolution w/ Eric Yakes (Bitcoin Magazine)
As the week came to a close on Friday the price of Bitcoin closed at $19,172.47 and the sentiment was mixed. Metrics indicate the bottom continues to be in for now. Experts also seems to be hinting that Bitcoin has reached a bottom. The most covered news of the day was Ripple gaining access to the Hinman documents and it continues to look as if they will win the case against the SEC.
Podcast of the Day: Cathie Wood on Bitcoin (What Bitcoin Did)
Bottom line is that Bitcoin is a Stablecoin for now. The past 5 months it appears to be trading in the $19K-$22K range:
Sep 22: $19,413.55
Aug 22: $21,398.91
Jul 22: $22,714.98
Jun 22: $19,987.03
$3K isn't a lot for this asset which at times have rallied $3K in a day. What we continue to see is more building, acceptance, and adoption of Bitcoin worldwide. It's only a matter of time before the broader economy improves, the halving occurs, and the rest of this will be history. The picture is clearly indicting that we are headed toward a digital asset future; regulation will determine if that will be good or bad.
WEEKEND NEWS
- Hong Kong Is Planning To Permit Crypto Retail Investment Trading (Bitcoinist)
- Spain overtakes El Salvador to become third largest crypto ATM hub (Cointelegraph | Bitcoinist)
- Bitcoin breakout imminent ahead of key macro events-filled week (Finbold)
- Blockchain Association says Bitcoin investment and price to rise as economy ‘comes around’ (Finbold)
- Bitcoin's correlation with gold hints at return to haven status, BoA strategists say (TB)
- El Salvador’s Bukele Still Liked Despite Bitcoin Uncertainty (Survey) (CryptoPotato)
- Billionaire F. Giustra hails Bitcoin as ‘anti-sovereign fiat play’ and CBDCs competitor (Finbold | TDH)
- Bitcoin Is Too Important, Robert Kiyosaki Says, Don’t Waist Your Time on Skeptics (UToday | Cryptoglobe)
- Ethereum’s On-Trend Supply Appears To Be Dropping, Is ETH On Track To Become Deflationary? (EWN)
- Ethereum token supply on trend to drop below pre-Merge levels (TB)
- Cardano ($ADA) Is Undervalued, Potential to 2X in Next Three Months, Says Santiment (Cryptoglobe | UToday)
- ‘ADA Whale’ Says Cardano is Likely to ‘Have Its Ethereum Moment’ in Next Bull Cycle (Cryptoglobe)
- Solana (SOL) Could Recoup Losses In Last 7 Days – Here’s How (NewsBTC)
- Number of Dogecoin holders spike in October, adding almost 100,000 in 3 months (Finbold)
- Gate.io Twitter Account Hacked to Promote Phishing Scam (BIC)
- Here's Another New Book for Bitcoin Skeptics (Decrypt)
- OlympusDAO Suffer $300K Exploit, White Hat Hacker Returns All Funds (BIC)
