"In three words I can sum up everything I've learned about life: it goes on."
Powered by Forward - Finally, a doctor dedicated to your long-term health
FOLLOW DAT MONEY! $7B
It's Saturday Folks! Bitcoin continues to trade around the $16K level that I discussed last week. The FTX Aftermath seems to be calming down but there is still some concern around DCG; it's the dark cloud still having over this market. Let's recap the week, shall we?
Monday the price of Bitcoin closed at $15,787.28 and the sentiment was still negative as the market was still reeling from the FTX explosion; calls for $14K, $12K, even $10K was mentioned. The most covered news of the day was about the 'FTX drainer' swapping another 20,000 $ETH for $BTC.
Podcast of the Day: 145 - Is the Fed Corrupt? with Christopher Leonard (Bankless)
Tuesday the price of Bitcoin closed at $16,610.71 and the sentiment turned a bit positive. The most covered news of the day was that Senators once again ask Fidelity to stop offering Bitcoin in 401(k)s. In addition, FTX Group's cash balance is $1.24 billion according to the bankruptcy filing.
Podcast of the Day: The Top 5 Times Bitcoin Was Supposed to Die, With Dan McArdle | The Breakdown
By Wednesday (Humpday) the price of Bitcoin closed at $16,669.44 and the sentiment continued to be positive as a large volume spike shoed up and Bitcoin continued to rally higher. The most covered news of the day was about the New York Governor signing a PoW mining moratorium into law.
Podcast of the Day: Finding Bitcoin Signal with Jeff Booth | What Bitcoin Did
Right over the hump on Thursday the price of Bitcoin closed at $16,604.46 and I took the day off because it was Thanksgiving and I decided to take the day off to enjoy it with family, friends, had great food, and the Cowboys won!
As the week came to a close on Friday the price of Bitcoin closed at $16,521.84 and the sentiment remained positive as Bitcoin addresses holding at least 1 BTC close in to a million. The most covered news of the day was Belgium says $BTC, $ETH, and other decentralized coins are not securities.
Podcast of the Day: Why Ernst & Young Is Already All In On Crypto | Paul Brody, Global Blockchain Leader At EY | The Wolf of All Streets
Bottom line is this folks, it's not over until it's over. Yes there are still folks talking about a more significant pull back toward $10K but until that happens, there is also the change Bitcoin could do the unthinkable and rally toward $20K. I still believe that Bitcoin is offering the "normal" person the opportunity to stack sats at drastically reduced cost than where it was at the all time high this time last year. As you can see things can change drastically in 1 year time.
- It’s time for crypto fans to stop supporting cults of personality (Cointelegraph)
- Crypto Investors Are Cashing Out: Over $3.5 Billion Stablecoins Redeemed (BIC)
- Here are the top three cryptocurrency stories from last week (TB)
- Most Americans Turn Extremely Bearish on Bitcoin (UToday)
- Bitcoin Futures Market Now Flashing Historically Bullish Signal, According to Crypto Analytics Firm IntoTheBlock (TDH)
- How low can the Bitcoin price go? (Cointelegraph)
- Bitcoin’s new ‘worst case scenario’ puts BTC bear market bottom near $6K (Cointelegraph)
- Here’s When the Bitcoin and Crypto Bear Market Will End, According to deVere Group CEO Nigel Green (TDH)
- Fundstrat’s Tom Lee Says He’s Still a Bitcoin Bull, Predicts Crypto Firms Emerge Stronger From Market Turmoil (TDH)
- VC Firm Partner: “’Crypto’ Industry Will Be Purged by a Successful Bitcoin Industry” (Cryptoglobe)
- How much bitcoin does El Salvador have? Good luck getting an answer. (TB)
- New York’s mayor seeks balance with regulators after PoW mining moratorium (Cointelegraph)
- Bitcoin mining revenue lowest in two years, hash rate on the decline (Cointelegraph)
- Metalla Royalty director warns most crypto entities to go bankrupt, says gold to hit $2k by 2023 (Finbold)
- Ethereum Software Firm ConsenSys Addresses Concerns Over Plans To Collect MetaMask Wallet Users’ Data (TDH)
- What is an Ethereum Virtual Machine (EVM) and how does it work? (Cointelegraph)
- Are XRP & XRPL Centralized? Ripple Executives Argue (UToday)
- XRP Looks Ready for Big Move, Here Might Be Potential Catalysts (UToday)
- Ripple Lawsuit: Crypto Lawyer Sheds Light On The Value Of XRP Despite Brutal SEC Case (ZyCrypto)
- Matt Hamilton on ‘Source of Most of the Disinformation Spread About XRP’ (Cryptoglobe)
- Dogecoin Pumps 15% as Elon Musk Says He May Launch Alternative Smartphone (UToday)
- $DOGE Price Surges After Elon Musk Suggests Twitter 2.0 Will Support Payments (Cryptoglobe | BIC | UToday)
- Cardano (ADA) Next Big Thing Revealed, Here's Surprising Aspect (UToday)
- $ADA: There Are Currently 1,146 Projects Building on Cardano (Cryptoglobe | Finbold)
- Cardano (ADA) Hits New Milestone as Native Tokens Reach 7 Million (UToday)
- SEC Chair Gary Gensler Criticized for Approach to Crypto Regulation by US Lawmaker (BIC | Cointelegraph)
- Canada crypto regulation: Bitcoin ETFs, strict licensing and a digital dollar (Cointelegraph)
- Circle Warns About Scammers Baiting USDC Users (CryptoPotato)
- Coinsquare confirms data breach, says customer assets 'not at risk': CoinDesk (TB)
- Alameda Research withdrew $204M ahead of bankruptcy filing - Arkham Intelligence (Cointelegraph | BIC)
- Digital Currency Group (DCG) Clarifies Financial Position, Reveals $2B Loan (BIC)One Crypto Firm Poses Bigger Risk to Markets Than FTX, According to Ava Labs President Says (TDH)