Disclaimer: If you take anything I post as financial advice that's on you boo! I curate news information daily (with the knowledge I've acquired since 2011) to provide you a view of what is happening around the Digital Asset space. If YOU decided to buy, hold, or trade Digital Assets as a result of reading what I've posted, that is YOUR decision and this isn't advice. You should discuss any investments with your financial advisor and if you don't have one, find one.
"What you feed your mind, will lead your life."
- Kemi Sogunle
Powered by Super Coffee - Positive Energy!
Happy Saturday Folks! A week ago Bitcoin was struggling to maintain above $20K and here we are again and this time lower than last week. Bitcoin is currently trading around $20,237.26 and the same bearish sentiment is still ruling the markets; Bears are on parade. Jerome Powell was hawkish in his Jackson Hole speech which gave the markets and upset stomach it appears and they just puked all over the place. Let's recap the week shall we?
Monday the price of Bitcoin closed at $21,398.91 and the outlook was gloomy, but keep in mind that dormant Bitcoin addresses now hodl largest-ever amount of BTC and long position interest hovered around the highest levels in the past 12 months. In addition, the Hash Ribbons indicator gave a buy signal. Most of the Analyst were talking positive with a couple being very bearish on $ETH. The most covered news was Anthony Scaramucci's outlook on the market; mentioning the impact of BlackRock.
POD: Stephan Livera Podcast: SLP408 Jeff Booth Bitcoin’s Signal in the Noise
On Tuesday the price of Bitcoin closed at $21,528.09 and Bitcoin continued to struggle to move higher. The overall sentiment was negative with Analyst being longer term bullish. The most covered news of the day was Celsius suing KeyFi. In addition, Rep Tom Emmer asking the Treasury Department to explain the Tornado Cash sanctions was right behind it and a very big issues that deserves a lot of attention not only from politicians but everyday citizens globally.
POD: Bitcoin Magazine: Bitcoin's Incentives Are Perfect w/ Tomer Strolight and Nico
By Wednesday the price of Bitcoin closed at $21,395.02 as Bitcoin appeared to be in consolidation mode; acting like a stablecoin. The overall sentiment continued to lean negative with a couple articles hinting that Bitcoin could rise. Pentoshi warned that Bitcoin was poised to trap bulls. The most covered news was Tether saying it would not freeze sanctioned Tornado Cash addresses unless instructed by law enforcement. In addition, bugs were discovered in the Ethereum clients' mainnet updates and the Foundation confirmed September dates for "The Merge."
POD: Bankless: The Death of Crypto Privacy? with Jake Chervinsky
Right over the hump on Thursday the price of Bitcoin closed at $21,600.90 giving mixed signals on which direction is was heading. The overall sentiment leaned a bit positive as there was a bit of 'Hopium' in the air, but we now know it was a head fake. Smart Contracter was not fooled as he indicated a new low incoming for Bitcoin at $20.5K and we've dropped lower since. Charlie Burton said $20.8K was a critical level so let's see how this plays out. The most covered news of the day was Bitcoin Depot going public as the first Bitcoin ATM company to do so. In addition, the Taliban shutting down 16 Crypto exchanges also received a good amount of coverage. Oh and the stupid BitBoy drama of him suing Atozy supposedly is over.
POD: The Wolf Of All Streets: Daily Howl: When To Expect Institutional Crypto Adoption | Guest: James Stickland, CEO Of Elwood
As the week came to a close on Friday the price of Bitcoin closed at $20,260.02 but when you look back its not too far off from where it was trading on Monday right? Overall sentiment continues to lean bearish and the bears are definitely peacocking right now but what goes down will come back up eventually; be patient. InvestAnswers believe the market can rally next week. The most covered news of the day was about the Tornado Cas developer being hired by a firm linked to Russia's FSB security service.
POD: Unchained: With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold?
WEEKEND NEWS
- Here are the three biggest crypto stories of the week (TB)
- Over $500 billion outflows Bitcoin’s market cap in 2022 as BTC grasps to hold at $20k (Finbold | Cointelegraph | Decrypt | TB | Bitcoinist | NewsBTC)
- Bitcoin, ETH, XRP, ADA Get Stuck In Tight Ranges As Investors Attune To The Jackson Hole Symposium (ZyCrypto)
- Crypto will become an inflation hedge — just not yet (Cointelegraph)
- CEO of Company Behind Avalanche Says Capital Sitting on the Sidelines Waiting To Jump Into Crypto – Here’s Why (TDH)
- Shark Tank’s Kevin O’Leary Says Bitcoin (BTC) Won’t Break $25,000 Until Clear Regulation (TDH | ZyCrypto)
- Capo: Analyst Who Called 2022 Bitcoin Collapse Flips Bullish on BTC – But There’s a Catch (TDH)
- Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder (Cointelegraph)
- $ETH: Pantera Capital Explains How the Merge Could Make Ethereum a ‘Deflationary Asset’ (Cryptoglobe)
- $ETH: Where Analysts Are Expecting Ethereum Price to Go in Short to Medium Term (Cryptoglobe)
- Analytics Firm Santiment Issues Ethereum Alert, Details Potential Price Path Based on Protocol Growth (TDH)
- TA- Binance Coin (BNB) Loses $300 Key Support, Are Bears Taking Over? (NewsBTC)
- Worldwide Crypto Ownership Cross 320 Million, Here Are The Countries Leading The Charge (NewsBTC)
- The Merge May Negatively Impact DeFi Protocols, Stablecoins: Report (Coindesk)
- AntPool won't maintain client assets on Ethereum after The Merge amid 'risk of censorship' (TB)
- Ether May Continue to Lose Momentum Until Merge Is Completed, BofA Says (Coindesk)
- Ethereum Could Get Kicked Off Cloud Host That Powers 10% of Crypto Network (Coindesk)
- 3AC Co-Founder Concerned About Facing Prison Time (Report) (CryptoPotato)
- Bankrupt Crypto Broker Voyager’s Native Token VGX Skyrockets by Over 125% in 24 Hours Amid Takeover Rumors (TDH)
- Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K (Cointelegraph | Cryptoglobe)
- Lesson: What is a seed phrase and why is it important? (Cointelegraph)
- SEC seeks info from Grayscale about three crypto trusts: CoinDesk (TB)
- $ADA: Re Vasil Upgrade Preparation, IOG CEO Says ‘Things Are Moving Along Very Quickly’ (Cryptoglobe)
- Coming Soon: The Cardano Hard Fork (Decrypt)
- Cardano Users Can Now Track Vasil's Progress in Real Time on This Newly Launched Platform: Details (UToday)
- Charles Hoskinson Addresses Return of Cardano “Ghost Chain” FUD (UToday)
