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Happy Saturday Folks! Well the large green candle I was hoping to see last weekend, didn't materialize and in fact Bitcoin appears to be the new Stablecoin. Week over week Bitcoin is trading at the same level which is a great thing for those who are accumulating. Last week Bitcoin was trading around $19,866.00 and as I type it's trading around $19,073.00. Let's recap the week shall we?
Monday the price of Bitcoin closed at $19,544.13 and the sentiment was mostly negatives with some hint of optimism. Analysts were mostly negative and it appears Capo isn't doing that great on predicting market movement as well as van de Poppe since the Vasil Hard fork didn't material $1 for $ADA. Do Kwon on the run dominated the news cycle as he hinted that he wasn't running but authorities in South Korea asked Interpol to issue a "red notice" for him.
POD: What Bitcoin Did: The Quantum Threat to Bitcoin Revisited with Richard Murray
On Tuesday the price of Bitcoin closed at $18,890.79 and the sentiment was mainly neutral. Analysts were neutral as well with some continue hinting Bitcoin is near a bottom and others believing it could sink "another leg lower" to $12,000. Wintermute being hacked for $160MM dominated the news cycle as MicroStrategy BTFD once again now HODLing 130K $BTC.
POD: Bitcoin Audible: Guy's Take #59 - We're Not Going Anywhere
By Wednesday the price of Bitcoin closed at $18,547.40 and the sentiment was negative. Analysts were leaning more positive in their outlook. The White Hat hacker that saved Arbitrum dominated the news as US Courts once again are looking into what is backing Tether.
POD: Bitcoin Fundamentals - BTC096: Fractional Reserve Banking Vs Bitcoin w/ Mike Stroup (Bitcoin Podcast)
Right over the hump on Thursday the price of Bitcoin closed at $19,413.55 and the sentiment was mainly neutral. Analysts were mixed as talk of the bottom continues. Coinbase refuting claims it tested proprietary trading dominated the news cycle as Binance hired big-name former government officials to set up advisory board in preparation of a hot regulatory environment. Definitely listen to the podcast of the day!
POD: Bitcoin Audible: Read_655 - The Legendary Treasure of Satoshi Nakamoto [Tomer Strolight]
As the week came to a close on Friday the price of Bitcoin closed at $19,297.64 and the sentiment was positive. Analysts seemed to be upbeat about the market in general. Cardano Vasil Hard Fork went live and dominated the news cycle as XRP continued to surge.
POD: Unchained: Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto
The amount of activity happening around the top 10 Crypto assets is far greater so check out the previous days blogs. Lastly, Bitcoin continues to be range bounded between $18K and 19K it's a great zone to continue accumulating. On the weekly chart, $23K is overhead resistance with $15K being lower bound support. As we zoom out what really is impacting the market is the Fed's attempt at controlling inflation with rate raising and the regulatory environment globally. Keep in mind that the true building and work is done in bear markets so Follow Dat Money and it will tell you where the puck is headed. I will be airing the Bitcoin is Freedom show tomorrow at 3PM CST so follow JDalmulder on twitter.
WEEKEND NEWS
Trending
- Veritaseum Sued Coinbase Over Patent Infringement, Seeks $350 M For Settlement (Bitcoinist | BIC | Coindesk | CryptoPotato | TB | TDH | Cointelegraph | Finbold)
- California Gov. Newsom nixes crypto license bill (TB | Coindesk | NewsBTC | BIC | Blockworks | Coindesk | TDH | Bitcoinist)
- Vitalik Buterin: Expects Zcash and Dogecoin to migrate to proof-of-stake model (TB | Cryptoglobe | CryptoPotato | Bitcoinist | ZyCrypto)
Gaining Traction
- U.S. Department of Defense taps intelligence firm to evaluate crypto threat to national security (TB | TDH | Bitcoinist | Coindesk)
- Tether's USDT stablecoin goes live on Polkadot (TB | CryptoPotato | Bitcoinist | TDH)
Other News
- The week ahead's three biggest cryptocurrency stories (TB)
- Nakamoto almost opted to name Bitcoin as Netcoin, domain data reveals (Finbold)
- Bitcoin risks worst weekly close since 2020 as BTC price dices with $19K (Cointelegraph)
- Bitcoin Faces $9,100 ‘Max Pain’ Price Level As BTC Risks 50% Drop (ZyCrypto)
- Bear Market FUD Could Signal More Blood for These Large Cap Cryptos (BIC)
- 20 Ethereum Validators Slashed in Three Hours: Reasons (UToday)
- Ethereum 2.0 Deposit Contract Hits New All-Time High of 13.9M ETH (BIC)
- Ethereum Supply Slowed After Upgrade, Will It Ever Trigger Growth? (Bitcoinist)
- Post-Merge ETH has become obsolete (Cointelegraph)
- 20 Ethereum Validators Slashed in Three Hours: Reasons (UToday)
- Is post-Merge Ethereum PoS a threat to Bitcoin's dominance? (Cointelegraph)
- DOGE 8% Price Increase Puts Memecoin at Top of Crypto Market (UToday | UToday | Bitcoinist)
- DOGE, LINK, BTC Might Be Potential Candidates for Breakout, Here's Why (UToday)
- Pentoshi: Crypto Strategist Predicts Big Bounces for Bitcoin and One Ethereum Rival – Here Are His Targets (TDH)
- DonAlt: Crypto Analyst Issues Massive Price Target for XRP As Ripple and SEC Ask Judge To Pick a Side (TDH)
- Arthur Hayes: BitMEX Founder Says Ethereum Will ‘Definitely’ Outperform BTC, Outlines Danger Zone for Bitcoin Bulls (TDH | CryptoGlobe)
- Mike McGlone: Bloomberg Analyst Says Bitcoin’s Relationship to Commodities Could Hint at a Price Recovery – Here’s Why (TDH)
- Charles Hoskinson: Cardano Founder: Hydra Is ‘Everything Lightning Wanted To Be When It Grows Up’ (Cryptoglobe)
- Charles Hoskinson: Cardano Creator Names Catalyst That He Believes Could End Crypto Downturn and Trigger ‘Mega Bull Market’ (TDH)
- Guy: Coin Bureau on Crypto Market: ‘This Winter Is Going To Suck’ (Cryptoglobe)
- Benjamin Cowen: ‘Regulatory Concerns for the Altcoin Market’ Could Make Alts ‘Go Down a Lot’ (Cryptoglobe)
- Michael Saylor: Bitcoin Is ‘100 Times Better Than Gold,’ Michael Saylor Says – Here’s Why (Bitcoinist)
- Charles Hoskinson: Cardano Creator Claims Ethereum Would Have Been Better Off with "Snow White" (UToday)
- Brad Garlinghouse: Ripple CEO Reveals Crypto Portfolio, Calls Out SEC’s Latest Stance on Ethereum (TDH)
- The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price? (Cointelegraph)
- Bitcoin Miner Cipher Looks to Sell Up to $250M in Stock (Coindesk)
- Brazilian Federal Police Raids 6 Crypto Exchanges in Money Laundering Investigation (Coindesk)
- Congress Presses State Department for Info on Costs, Benefits of Crypto (Blockworks)
- Biden's anemic crypto framework offered us nothing new (Cointelegraph)
- Guatemalan Town Cleans Local Lake Using Bitcoin Miners (CryptoPotato)
- Optimism For Groundbreaking Ripple Win Against SEC Fuels XRP Price Surge As Whales Load Up Heavily (ZyCrypto)
- South Korea Seized $183 Million Worth of Crypto From Tax Evaders (Report) (CryptoPotato)
- CFO of Insolvent Crypto Lender Voyager Resigns (Coindesk)
