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Follow Dat Money | Crypto Projections
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It's Saturday Folks! Financial reports did a number on Bitcoin and the broader market as we've witnessed yet another pull back. The best performing asset in the past 7 days is $SOL believe it or not - down only 2.61%; ranked #11 on Coinmarketcap.com. Most covered news this week was Hong Kong lifting the ban on Crpyto trading and China being okay with it as well as Coinbase launching BASE. Let's review the week shall we?
Monday the price of Bitcoin closed at $24,829.15 and the fear and greed index was 58. The most covered news of the day was
Hong Kong plans to lift ban on retail crypto trading attracting capital & talent; China Supports(9), Solana soars double-digits as Helium Network announces merge date(7), Galois hedge fund shuts operations after losing $40M to FTX collapse(7) and FTX Japan Customers Can Begin Withdrawing Fiat, Crypto on Feb. 21.(7)
Podcast of the Day: Commissioner Peirce on the SEC’s ‘unimaginative’ approach to regulation | The Scoop
Tuesday the price of Bitcoin closed at $24,436.35 and the fear and greed index was 60. The most covered news of the day was Paxos Is Holding a 'Constructive Discussion' With SEC(5), Polygon reduces headcount By 20% as consolidation ramps up(5), and Hope Finance exploit results in $2M stolen from users’ funds.(3)
Podcast of the Day: Read_703 - The Banks Are So F**ked – [Callebtc] | Bitcoin Audible
By Wednesday (Humpday) the price of Bitcoin closed at $24,188.84 and the fear and greed index was 59. The most covered news of the day was New York Attorney General sues CoinEx crypto exchange over registration(6), US lawmaker Rep. Tom Emmer introduces bill aimed at limiting Fed's authority on digital dollar(5), and Voyager being probed for deceptive Crypto marketing, FTC says.(4)
Podcast of the Day: Sidelined crypto VCs are jumping back into the market | The Scoop
Right over the hump on Thursday the price of Bitcoin closed at $23,943.32 and the fear and greed index was 56. The most covered news of the day was Coinbase launched layer 2 Blockchain Base to provide onramp for Ethereum, Solana, and others(9), Sam Bankman-Fried hit with additional bank fraud charges in new indictment(7), and IMF board 'generally agreed' Crypto shouldn't be legal tender.(6)
Podcast of the Day: Scaling Bitcoin Culture with Amanda Cavaleri | What Bitcoin Did
As the week came to a close on Friday the price of Bitcoin closed at $23,186.88 and the fear and greed index right about 53. The most covered news of the day was Bitcoin price stays under $24K as PCE data helps US dollar to near 7-week highs(4), IMF says no crypto as legal tender; community disagree(2), and Bitcoin node connection shuts down: BlueWallet users urged to withdraw funds.(2)
Podcast of the Day: Is Gary Gensler on a Mission to Put Crypto Down for Good? | Unchained
Bottom line: As I type Bitcoin is trading at $23,034.61 and for the week (M-F) Bitcoin gained $1,642.28. So basically we've traded flat since last week it was up nearly $2K for the week. It appeares each dip gets bought so, as with last week I continue to be cautiously optimistic in that we need to get above $25.2K (200 WMA) and close above that for 3 consecutive weeks before I go raging bull :)
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
Inventor of the Web Tim Berners-Lee Explains Why Believes Crypto Is ‘Really Dangerous.’
Bitcoin and Other Crypto Assets Suffer Price Dip After New Report Shows Inflation Metric Rose in January. Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally. Mining difficulty up 9.95% with more machines coming online amid recent rally. Crypto Miner Hive Blockchain Posted Net Loss of $90.4M for Q3 2022. Another Bitcoin Core Maintainer Steps Down After 7 Years. GBTC approval could return a ‘couple billion dollars’ to investors: Grayscale CEO. Majority of Retail Bitcoin Investors Likely Lost Money in Last 7 Years, Finds BIS Report.
Ethereum Shanghai Moves Forward, But Core Dev Sees “Road Yet Long.” Ethereum Developer Announces Plan To Launch New ‘Holli’ Testnet Later This Year. Ethereum Competitor Dominating GitHub Daily Development Activity Amid Flurry of New Improvements.
Solana Network Stumbles, On-Chain Trading Slows After ‘Forking’ Incident; Back online.(5)
U.S. Treasury Janet Yellen calls for 'strong regulatory framework' for crypto activities. SEC’s Coinbase Insider Trading Case Is ‘Backdoor Rulemaking,’ Trade Association’s CEO Says. Coordinated global crypto policies: G20 key financial stability priority. Global Crypto Rules to be Based on Coming FSB & IMF Synthesis Paper, India Says After G20 Meetings. Change lies ahead for haphazard crypto regulation. Crypto Industry Lost Over $650B After Two Major Scandals in 2022: BIS.
Sam Bankman-Fried’s lawyers request extension for bail condition proposal. FTX Japan allows total withdrawal of funds — users rejoice the ‘escape.’ Voyager is selling crypto assets through Coinbase, suggests on-chain data.(2) Coinbase’s In-House Blockchain Launch Followed By Impersonation Tokens. French police arrest 2 people in connection to Platypus attack.(3)
