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FOLLOW DAT MONEY! $10B
Monday the price of Bitcoin closed at $19,345.57 and the sentiment was quite positive given the fact that Bitcoin had barely moved and continued to be stable at around $19K. Opinions from the Analysts, Traders, and Strategists were leaning positive as well retail investors increasing their investment, 6-8 from a breakout, Hyperbitcoinization, etc; there was also talk that a bottom is not in yet. The most covered news of the day was about the Chinese intelligence that tried to bribe a U.S. Official with Bitcoin; imagine that.
Podcast of the Day: The Debate Around SBF’s Regulatory Ideas (The Breakdown)
Tuesday the price of Bitcoin closed at $20,095.86 and the sentiment continued to be positive as the price breaks above $20K. The one trader who decided to voice his opinion appears to be wrong for now - Peter Brandt while long term bullish was short term bearish believing Bitcoin will visit $13K first; I just don't see that happening. The most covered news of the day was prosecutors reportedly seeking an 8-year jail term for Bithumb founder for over $70MM in fraud.
Podcast of the Day: SLP426 Morgen Rochard Why You Want to Live in a Bitcoin World (Stephen Livera)
By Wednesday (Humpday) the price of Bitcoin closed at $20,770.44 and the sentiment was the bulls were back on parade as Bitcoin neared $21K and the overall Crypto market cap breaches $1T once again. Opinions from Analysts, Traders, and Strategist ranged from the rally starting in 2023 to Bitcoin reaching $24K; traders should brace for the next bull run. The most covered news of the day was the price movement of Bitcoin liquidating over $1B.
Podcast of the Day: BTC101: 4th Quarter Macro Overview w/ Luke Gromen (Bitcoin Fundamental)
Right over the hump on Thursday the price of Bitcoin closed at $ 20,285.84 and the sentiment was neutral as Bitcoin was not able to move above $21K and the begin to pull back. However, some were very bullish pulling $1.6B worth off an exchange some believe it was Binance. The most covered news of the day was the horrible news of Core Scientific possibly filing for bankruptcy; not a good day for the publicly traded miner.
Podcast of the Day: Crypto Markets Put the ‘Pump’ in ‘Pumpkin’ (The Breakdown)
As the week came to a close on Friday the price of Bitcoin closed at $20,595.35 and the sentiment was neutral once again as Bitcoin's failed attempt at breaking $21K. The most covered news of the day was Visa entering the Metaverse.
Podcast of the Day: Why Bitcoin’s Bear Market Hashrate Surge May Not Be Bullish (The Breakdown)
Bottom line is that it was a good week for Bitcoin as it continues to make a push higher. The current price of Bitcoin is $20,711 nearly the highest price for the week. The broader market is still above $1T which we all celebrated greatly the first time it broke; now it's a joke. If you remember last week I highlighted that we are sill in the same zone so nothing has fundamentally changed about this market structure and until Bitcoin breaks $22K and remains above it for 3 consecutive days - don't get too excited (speaking to the traders in the room ONLY) - investors continue to ignore all this nonsense. With that I say enjoy your weekend and I will be back on Monday.
Oh btw it's election season here in the US. I held a show on Thursday: Bitcoin & Politics (subscribe, thumbs up, and leave me a comment) and I wrote a blog highlighting the most competitive races. I will be following that up discussing all of the politicians and candidates who favorably support Bitcoin in this upcoming election so you don't wanna miss that. Tomorrow I might air my Bitcoin is Freedom show stay tune...
WEEKEND NEWS
- Here are the five biggest crypto stories of the past week (TB)
- Elon begins reign at Twitter
- Meta's giant losses
- Google offers Ethereum blockchain node service
- VCs hit by drop in crypto prices
- MakerDAO passes vote to break its DAO
- Franklin Templeton Exec: Digital Assets Are ‘Frontier Risk Alternatives’ (Blockworks)
- Crypto exchange Coincheck plans Nasdaq listing in July 2023 (Cointelegraph)
- Huobi Top Executives Reportedly Resign as Justin Sun Takes Over (BIC | EWN)
- Bank of America seeks crypto public policy expert to draft bills, spot 'key risks' to business (TB)
- About 70% of Crypto Millionaires Used These 5 Tools to Maximize Gains (BIC)
- ‘Uptober’ for Bitcoin in play as BTC gains 8% in October adding $30 billion to its market cap (Finbold)
- Bitcoin hits new 6-week high as Ethereum liquidates $240M more shorts (Cointelegraph)
- Bitcoin metric warns of $21K profit-taking as decade-old BTC wakes up (Cointelegraph)
- Bitcoin Reclaims $20,500; Here Are The Levels You Should Pay Attention To (NewsBTC)
- Saylor Explains How MicroStrategy Stock Has Done Since They Adopted Bitcoin Standard (Cryptoglobe)
- Bitcoin price broke out this week, but has the trend changed? (Cointelegraph)
- How to earn passive crypto income with Ethereum? (Cointelegraph)
- Here is why strong post-Merge fundamentals could benefit Ethereum price (Cointelegraph)
- Ethereum Devs Try To Leverage Price Surge As Smart Contracts Reach New High (NewsBTC)
- Is Ripple Ready? SWIFT, Payment Platforms To Enact Upgrade in Coming Months (UToday)
- Charles Hoskinson Invites Dogecoin to Migrate to Cardano for Free (BIC | UToday)
- Dogecoin price rallies 150% in 4 days, but DOGE now most 'overbought' since April 2021 (Cryptoglobe | Cointelegraph | CryptoPotato)
- MassMutual, BlockFi are among bitcoin miner Core Scientific's biggest creditors (TB)
