24 May: Unwise Price Predictions


“You know you are on the road to success if you would do your job, and not be paid for it.”
-Oprah Winfrey

--NO TAX ON CRYPTO PROFITS!--

Happy Tuesday Folks! We are still trading sideways and normally these are great times to accumulate because the price isn't moving much. At the same time, I want to caution you all from listening to the likes of Tim Draper when they make projects of six figures and above (referring to the Wolf of All Streets Podcast.) I am surprised he didn't learn his lesson the first time but IMHO it's not WISE to make outlandish projects; it doesn't help and if anything it can cause challenges for the novice investor who is looking for that moonshot. Anywhoo - we've got lots of news coverage on Davos that is currently underway and a few other interesting things happening. The Terra Terror is fading - what comes next?

BIG STORIES TO WATCH

CRYPTO WATCH

  • Crypto funds under management drop to a low not seen since July 2021 (Cointelegraph)
  • “The [SEC] is the Number One Blocker,” says Chamber of Digital Commerce Founder (CryptoPotato)
  • MicroStrategy trading at 18-month low following crypto and stock market drop (TB)
  • After Week of Record Inflows, Broader Weakness Leads to Digital Asset Outflows of $141 Million (BIC)
  • 40% of American Crypto Holders Earn Over $100K Says Federal Reserve Board (BIC)
  • European Central Bank reveals 10% of Eurozone households own crypto (Finbold | Cointelegraph)
  • ECB Warns That Crypto Risks Could Spill Over Into Wider Economy (Coindesk | UToday | BIC)
  • Sumitomo Mitsui Trust to Establish a Crypto Firm Targeting Institutional Clients (CryptoPotato)
  • Mainstream Crypto: the Impact of Celebrities and Mega Companies (BIC)
  • Let’s Dissect The “Follow The Money #1” Documentary, Pt. 1- Salvadoran Confusion (Bitcoinist)

WEF 2022

  • Gavin Wood: WEF 2022: Web3 no longer just about crypto and DeFi, says Polkadot founder Gavin Wood (Cointelegraph)
  • Francis Suarez: Bitcoin should be seen from an innovation perspective, says Miami mayor (Cointelegraph | Finbold | BIC | CryptoPotato)
  • Kristalina Georgieva: IMF chief says Having ‘coin’ in its name doesn’t mean Bitcoin is ‘money’ (Finbold)
  • Gita Gopinath: IMF Official Remarks on ‘Very Quick Moves’ in Crypto Market (BIC)
  • Blockchain community breaks stereotypes at Davos (Cointelegraph)
  • Latest updates from the Cointelegraph Davos team (Cointelegraph)
  • WEF 2022: Trust and clarity are missing in discussions of carbon emissions and crypto (Cointelegraph)
  • Ripple CEO Brad Garlinghouse Meets With Georgian Prime Minister To Discuss Adoption of Blockchain (Decrypt)

BITCOINS

  • Bitcoin, Ethereum Exchange Inflows Suggest Sell-Offs Are Far From Over (NewsBTC)
  • Bitcoin price returns to weekly lows under $29K as Nasdaq leads fresh US stocks dive (Cointelegraph)
  • Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level (Cointelegraph)
  • Bitcoin dives to fill CME gap amid claim new all-time highs will take 2 years (Cointelegaph)

BITCOIN AND THE SOUL-SEEKING OF HUMANITY

ALTCOINS

  • Bloodbath: Half of Top 30 Cryptocurrencies 80% Below ATH (CryptoPotato)
  • Cardano Whale Tells Institutional Investors ‘Here for the Long Term’ Why They Should Buy $ADA (CryptoGlobe)
  • 22 Billion Shiba Inu ($SHIB) Were Burned Over the Past Week, Data Shows (Cryptoglobe | UToday)
  • Assuming Bitcoin plays nice, higher timeframe analysis points to $90 Solana (SOL) price (Cointelegraph)
  • FTX Token Becomes Second-Largest Holdings Among Ethereum Whales (Bitcoinist)
  • TRON records double-digit gains as number of accounts approaches 100 million (Finbold)
  • Top 3 cryptocurrencies that are faring the best in the 2022 bear market (Cointelegraph)
  • Anthony Scaramucci Takes Large Position in Algorand (ALGO) (UToday)

STABLECOINS

  • TerraUSD (UST), Tether (USDT) Not as Stable and Cannot Guarantee Their Peg at All Times – ECB Crypto Asset Report (EWN)
  • Over $10 Billion Pulled From USDT As Stablecoin Crises Continues (Bitcoinist)

ANALYST'S CORNER

  • Mike McGlone: Three Factors That Will Favor Bitcoin Vs Crude Oil This Decade: Bloomberg’s Chief Expert (UToday)
  • Kevin Svenson: Crypto Strategist Says Bitcoin (BTC) Primed for a Bounce as US Stock Market Flashes Bullish Signals (TDH)
  • Benjamin Cowen: Analyst Forecasts Bitcoin Rally As BTC Follows 2018 Market Structure ‘Move for Move’ (TDH)
  • Michael van de Poppe: Chainlink, Decentraland and $RUNE Gearing Up for Breakouts (TDH)
  • Pentoshi: $AVAX $SOL Gearing Up for Rallies As Crypto Looks Turbo Bullish: Top Analyst (TDH)
  • CoinShares: Institutional Investors Accumulate Cardano (ADA) and Polkadot (DOT) As Bitcoin Sees Major Outflows (TDH)

NOTABLE VOICES

  • Kevin O'Leary: Shark Tank Investor Says ‘Nightmarish’ Crypto Correction Good for Industry – Here’s Why (Decrypt)
  • Jim Rogers: Veteran Investor Optimistic About Future of Crypto Money (Bitcoin.com)
  • Mike Sonnenshein: Grayscale CEO: Recent crypto sell-off hasn’t deterred investors (Finbold | TDH)
  • Ted Cruz: 'I want Texas to be the oasis on planet Earth for bitcoin and crypto' (TB)
  • Charles Hoskinson: “Cardano Is Getting Too Big,” As ADA Network Flares With Activity Ahead Of Vasil Hardfork (ZyCrypto)
  • Martin Shkreli: Pharma Bro Ethereum’s Vitalik Buterin 'Brilliant' But Also 'Full of Shit' (Decrypt | EWN)

PEOPLE ON THE MOVE

  • Shiba Inu Metaverse's Team Adds Former Technicolor Executive (UToday)

ACCEPTANCE/ADOPTION

  • Brazilians can now buy apartments with Bitcoin from listed property developer (Finbold | Cryptoglobe)
  • El Salvador’s Bitcoin play: What does the current slump mean for adoption? (Cointelegraph)

SURVEY: COMPANIES ACCEPTING BITCOIN, CRYPTO HAVE POSITIVE IMPACT ON THEIR IMAGE

WEB 3

  • Merit Circle DAO proposal seeks to ‘trim the fat’ by booting early-stage investor (TB)
  • Boss Cat Rocket Club Builds First All-Inclusive Metaverse on Cardano (Decrypt)
  • Metaverse, NFT Tokens Take Hit as Crypto Market Battles Bears (Decrypt)

BLOCKCHAINS

  • Terra 2.0 is Not a Hardfork But the Genesis of a New Blockchain, says The Team Behind LUNA (EWN)
  • Core Ethereum developer details changes to expect after the Merge (Cointelegraph)
  • Optimism cracks down on airdrop farmers, removing 17,000 addresses (TB)
  • This Is When Cardano Vasil Hard Fork Might Be Available on Testnet (UToday)

EXCHANGES/WALLETS

  • Brave Adds Solana Support and Ramp Wallet Functionality in Latest Browser Update (Decrypt)
  • South Korean Crypto Exchanges Issue Investment Warnings After Litecoin’s MWEB Update (CryptoPotato)
  • DEX protocol Uniswap hits $1 trillion cumulative trading volume milestone (TB)
  • Japan's Bitbank to set up a custody firm to facilitate institutional entry to local markets (Cointelegraph | BIC)
  • Ex-Deutsche Telekom Team Launch Liquid Staking Division at Crypto Custodian Finoa (Coindesk)

MINING

  • The State of Crypto Mining in China, Europe and Texas (Coindesk)
  • Russia's updated crypto mining bill cuts tax amnesty for Bitcoin miners (Cointelegraph)

BITCOIN’S ‘DIFFICULT’ PAST: EXPONENTIAL NETWORK GROWTH POWERED BY PERFECT COMPETITION

LEGISLATION/REGULATION/TAXATION

  • CFPB establishes new innovation unit to give clarity on existing rules (TB)
  • Bipartisan Crypto Bill to Hit Congress Within Weeks (Blockworks)
  • Congress Mulling Stablecoin Regulation After Terra Crash (Blockworks)
  • Terra’s 'vortex of death' brings scrutiny from South Korean regulators (TB | CryptoPotato)
  • Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean? (Cointelegraph)
  • Ukraine’s Vice Prime Minister Asks for More Crypto Via Catchy Rap Collab (BIC)
  • India’s Central Bank warns against the risks of crypto following Terra (LUNA) collapse (Finbold)

ACQUISITIONS/PARTNERSHIPS

  • FTX reportedly shopping for brokerages in preparation for stock trading (Cointelegraph)
  • Polkadot Partners With Frank McCourt’s Project Liberty to Democratize Social Media Data (CryptoPotato)
  • Internet That’s out of This World: Lockheed Martin Teams up With Filecoin and Protocol Labs (BIC)

FOLLOW DAT MONEY

  • Common Raises $20M to Build DAO Management Platform, Launch Token (Decrypt)
  • Gaming platform Bud raises $37 million in round led by Sequoia Capital India (TB)

THE BAD

  • Wright Vs. McCormack, The Bitcoin Trial Of The Year Began In London (Bitcoinist)

PODCASTS

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post. If you want to sign up for SMS alerts - text CRYPTO to +1 (214) 380-2013.


The Crypto Curator
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