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"Where there's a will, there's a way.
- old English proverb
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Happy Saturday Folks! While the storm isn't over, it does appears to be a silver lining in the clouds. Bitcoin has decided to change course for now and is currently trading $21,200.00; last week at this time it was around $20,237.26. Sentiment is that it could pull back to that region to find support and if it does things will look better - if not, it could revisit sub $19K once again. Let's recap the week shall we?
the price of Bitcoin closed at $19,812.37 and the sentiment while mix, definitely had some bullish tones to it. In fact an article from UToday said Bitcoin was ready for a big move. 6,000 $BTC were moved off Binance, open interest climbed, on-chain indicators suggested $BTC had reached a bottom, and Coindesk said a parabolic $BTC bull run was likely after dormant coin supply peaked. Analyst's were overall focused on altcoins. The most covered news of the day was BINANCE pulling support of USDC and converting several Stablecoins to BUSD.
Podcast of the Day:The Wolf Of All Streets: The Future Of Crypto With Jeff Garzik
the price of Bitcoin closed at $18,837.67 and the sentiment was leaning more bullish for the second day despite the price continuing to drop. 5-year returns of $BTC dwarf major bank stocks' with ROI by over 500% despite Crypto winter. Long-term holder supply surges up to near ATH showing HODLers have diamond hands; investors continued BTFD as the price went below $19K. Mike McGlone said Bitcoin was still in a bull market, Capo said $BTC price bounce was overdue after a "massive" long position appeared. The most covered news of the day was Ethereum's "Bellatrix" upgrade going live.
Podcast of the Day:What Bitcoin Did: Has the Bitcoin Price Bottomed Out? With The Rational Root
Wednesday the price of Bitcoin closed at $19,290.32 the sentiment lagged price as the news was overall bearish. Bitcoin fell 5% as the sell off continued and risks fall to June lows as percent of profit reached bottom territory, market cap dominance falls to levels last since in Jan 2018, ancient 15,000 BTC moved 10 days prior to the massive drop, and futures bets looked bearish. Analyst's were once again focused on Altcoins. The most covered news of the day was about Celsius "misleading" investors about their financial health according to Vermont regulator.
Podcast of the Day:The Scoop - How the multi-trillion dollar derivatives industry could be disrupted by decentralized technology
Right over the hump on the price of Bitcoin closed at $19,329.83 and the sentiment once again leans more bullish. Bitcoin bounced at $19K support, dormant Bitcoin supply hit new ATH, Whales sent $BTC to futures exchanges in "classic" bottom signal, and short-term bull run could be sparked by seasonality. Analyst's were bullish as Mike McGlone things $BTC is a "wild card" and set to outperform, Dave the Wave flipped bullish and said "now is the time" Rekt Capital said Bitcoin could spark massive 200% rally after it bottoms. Most covered news of the day was Republican lawmakers calling for answers on digital dollar from Fed Vice Chair.
Podcast of the Day:The Wolf Of All Streets: Daily Howl: Bitcoin To Crash After The Merge? Guest: Dave Weisberger, CoinRoutesETH
As we closed out the week on the price of Bitcoin closed at $21,361.26 and the market was getting excited. Bullishness was in the air as short-term technicals indicate a "buy," 9% surge cause sharp increase in open interest, and price metrics suggest the pump marked the final cycle bottom. Analyst's believed the bottom is in and was quote bullish except Peter Schiff and Ben Cowen who thinks Bitcoin likely to face a "final capitulation" event by the end of 2022. The most covered news of the day was Bitcoin pushing past $20K.
Podcast of the Day:The Wolf Of All Streets - Trading The Ethereum Merge | Macro Vs. Fundamentals With Joshua Frank (The Tie) And Jeff Dorman (Arca)
WEEKEND NEWS
- Three biggest crypto stories from the past week (
- MicroStrategy to reinvest $500M stock sales into Bitcoin: SEC filing (CointelegraphCryptoPotato
- BTC price nears $21.7K as whales boost Bitcoin 'almost perfectly' (CointelegraphCryptoPotato
- White House Report Recommends Banning Bitcoin Mining to Slash GHG Emissions (CryptoPotato
- $BTC: deVere Group CEO Says Bitcoin ‘Whale Watching’ Is Telling Him to Buy the Dip (Cryptoglobe
- $BTC: Cardano Founder Says White House Report Suggests Bitcoin Could be Banned in U.S. (Cryptoglobe
- Ethereum’s staking yield after The Merge will be lower than expected (
- Final Ethereum Shadow Fork Before Merge Goes Live (Cointelegraph
- Is Cardano Expanding? Charles Hoskinson Is Working on “Something Really Cool” in Papua New Guinea (
- CZ Explains Says Binance Has No Connection to the Chinese Government (Cryptoglobe
- DBS Bank To Embrace Crypto For Its Premium Tier Clients Amidst Market Turmoil (Bitcoinist
- Bitcoin Miners’ Revenue Drops Below $1B Amid Bearish Market & Increasing Mining Difficulty (
