Thoughts on the market on 18.05.2022
Bitcoin has been in the $29,800- $30,700 range since yesterday. Last night there was a short-term correction to $29,500, which was immediately bought out. At the time of writing the review, it is trading for $ 30,151. Total crypto market capitalization $1.299 Trillion, BTC & ETH dominance index of 44.3% and 19.1%. Fear index of 12.
Stock markets were up yesterday. The Nasdaq added 2.76%, the Dow Jones rose 1.34%, the S&P 500 gained 2.02% to close at 4088. The dollar index continued to decline and is now at 103.4, and BRENT is about 112.
The market was supported by good data on industrial production, then there was a speech by Powell. He recognized inflation as high and spoke about the need to make it low, spoke about the Fed's readiness to act aggressively and raise the rate above the neutral level, said that it was difficult to make forecasts, everything is unpredictable, geopolitics strongly influences the economy. Seems the markets did not fall on such a speech, because he said what the markets wanted to hear - at the next two meetings, the rate will be increased by 0.5%.
According to the US Treasury, China has been reducing investments in US bonds for the fourth month in a row. This is the same decline in the share of the dollar in reserves, which has long been talked about. The consequences of the theft of reserves of the Central Bank of Russia. I think many countries are doing the same now.
Bitcoin worked out the priority option from yesterday's review. This range is narrowing, and a denouement is close. The priority option for today is similar to yesterday. Expect Bitcoin in a range with a lower border of $29,200- $29,800, and an upper one at $30,800- $31,200.
An alternative option is fixing above $31,200.
Shaking out of the alts has not happened yet. When Bitcoin fixes above 32K, they will begin to recover and make good gains from current levels. True, in the case of working out an alternative option from here, entry prices will be even more interesting. Whether to take them now depends on the attitude to risk. With a conservative approach, for now, you can limit yourself to Bitcoin with Ether. If aggressive, take TOP alts and be ready to top up if Bitcoin goes under $28K.
According to Glassnode, the number of BTC that have not moved in over a year is at an all-time high. This is logical - since the beginning of the year the market has been falling, and the rational action is to accumulate an asset. Or at least not sell. But it is not the majority of Bitcoin owners who behave so rationally, but the owners of the largest amount of Bitcoin.
- Bill Miller, Elon Musk, Taylor and others will not sell Bitcoin at $30K or below. Rather, they will increase their positions. Contrary to the market crowd who will sell below $30K, having bought above $40K (or even above $50K). Crypto-winter is now evident, $20K levels BTC are on sight, it's also good to note there's a known huge forced seller down there. This sounds crazy, but $5K to the 2018 bottom of $3.1K could be taken out. At this point, it is the ability to use the brain for its intended purpose and act rationally.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin has been in the $29,800- $30,700 range since yesterday. Last night there was a short-term correction to $29,500, which was immediately bought out. At the time of writing the review, it is trading for $ 30,151. Total crypto market capitalization $1.299 Trillion, BTC & ETH dominance index of 44.3% and 19.1%. Fear index of 12.
Stock markets were up yesterday. The Nasdaq added 2.76%, the Dow Jones rose 1.34%, the S&P 500 gained 2.02% to close at 4088. The dollar index continued to decline and is now at 103.4, and BRENT is about 112.
The market was supported by good data on industrial production, then there was a speech by Powell. He recognized inflation as high and spoke about the need to make it low, spoke about the Fed's readiness to act aggressively and raise the rate above the neutral level, said that it was difficult to make forecasts, everything is unpredictable, geopolitics strongly influences the economy. Seems the markets did not fall on such a speech, because he said what the markets wanted to hear - at the next two meetings, the rate will be increased by 0.5%.
According to the US Treasury, China has been reducing investments in US bonds for the fourth month in a row. This is the same decline in the share of the dollar in reserves, which has long been talked about. The consequences of the theft of reserves of the Central Bank of Russia. I think many countries are doing the same now.
Bitcoin worked out the priority option from yesterday's review. This range is narrowing, and a denouement is close. The priority option for today is similar to yesterday. Expect Bitcoin in a range with a lower border of $29,200- $29,800, and an upper one at $30,800- $31,200.
An alternative option is fixing above $31,200.
Shaking out of the alts has not happened yet. When Bitcoin fixes above 32K, they will begin to recover and make good gains from current levels. True, in the case of working out an alternative option from here, entry prices will be even more interesting. Whether to take them now depends on the attitude to risk. With a conservative approach, for now, you can limit yourself to Bitcoin with Ether. If aggressive, take TOP alts and be ready to top up if Bitcoin goes under $28K.
According to Glassnode, the number of BTC that have not moved in over a year is at an all-time high. This is logical - since the beginning of the year the market has been falling, and the rational action is to accumulate an asset. Or at least not sell. But it is not the majority of Bitcoin owners who behave so rationally, but the owners of the largest amount of Bitcoin.
- Bill Miller, Elon Musk, Taylor and others will not sell Bitcoin at $30K or below. Rather, they will increase their positions. Contrary to the market crowd who will sell below $30K, having bought above $40K (or even above $50K). Crypto-winter is now evident, $20K levels BTC are on sight, it's also good to note there's a known huge forced seller down there. This sounds crazy, but $5K to the 2018 bottom of $3.1K could be taken out. At this point, it is the ability to use the brain for its intended purpose and act rationally.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 19.05.2022
Bitcoin fell from $30,200 to $28,700. At the time of writing the review, the price of the main cryptocurrency is $28,710. Total crypto market capitalization of $1.223 Trillion, BTC and ETH dominance index 44.8% and 19.0%, fear index 13.
Stock markets fell yesterday. They fell hard. The Nasdaq fell by 4.73%, the Dow Jones fell 3.57%, the S&P 500 lost 4.04% to close at 3923. The dollar index rose slightly and is now at 103.8, while BRENT is slightly above 110.
Tesla has been removed from the S&P 500 ESG index. Interestingly, this came just a day after Elon Musk lambasted Biden for being "teleprompter driven" and government actions that are leading to a depreciation of the dollar. He named the cause of inflation as not Putin, as Biden previously stated. They just printed a lot more dollars than they had real money. Musk said nothing new. Everyone has long known about inflation due to the generation of dollars, and that Biden has long been living in some kind of his own world is not news to anyone.
The priority option for Bitcoin today is trading range with a lower border at $28,700- $28,500 and an upper border at $30,800 - $31,200. An alternative option is fixing below $28,000.
Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses the Terra LUNA and UST Fallout.. “Reading the stories of retail investors who lost their savings in one investment is heart- wrenching,” Novogratz’s blog post explains. “A core tenet in the crypto belief system is equal access to markets. But it’s important that less experienced market participants only risk what they are comfortable losing. I’ve often said people should allocate 1%-5% of their assets to the space.”
Lastly the German Ministry of Finance published a letter stating that if crypto assets were owned for more than a year, their sale is not taxed. If crypto assets were sold in the same year as they were bought, then they are taxed. Buying and holding crypto assets in the medium to long term is a win-win investment strategy (if the assets are right, of course). Germans, who correctly assess the current economic realities, will widely use this opportunity.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin fell from $30,200 to $28,700. At the time of writing the review, the price of the main cryptocurrency is $28,710. Total crypto market capitalization of $1.223 Trillion, BTC and ETH dominance index 44.8% and 19.0%, fear index 13.
Stock markets fell yesterday. They fell hard. The Nasdaq fell by 4.73%, the Dow Jones fell 3.57%, the S&P 500 lost 4.04% to close at 3923. The dollar index rose slightly and is now at 103.8, while BRENT is slightly above 110.
Tesla has been removed from the S&P 500 ESG index. Interestingly, this came just a day after Elon Musk lambasted Biden for being "teleprompter driven" and government actions that are leading to a depreciation of the dollar. He named the cause of inflation as not Putin, as Biden previously stated. They just printed a lot more dollars than they had real money. Musk said nothing new. Everyone has long known about inflation due to the generation of dollars, and that Biden has long been living in some kind of his own world is not news to anyone.
The priority option for Bitcoin today is trading range with a lower border at $28,700- $28,500 and an upper border at $30,800 - $31,200. An alternative option is fixing below $28,000.
Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses the Terra LUNA and UST Fallout.. “Reading the stories of retail investors who lost their savings in one investment is heart- wrenching,” Novogratz’s blog post explains. “A core tenet in the crypto belief system is equal access to markets. But it’s important that less experienced market participants only risk what they are comfortable losing. I’ve often said people should allocate 1%-5% of their assets to the space.”
Lastly the German Ministry of Finance published a letter stating that if crypto assets were owned for more than a year, their sale is not taxed. If crypto assets were sold in the same year as they were bought, then they are taxed. Buying and holding crypto assets in the medium to long term is a win-win investment strategy (if the assets are right, of course). Germans, who correctly assess the current economic realities, will widely use this opportunity.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Good evening, Thoughts on the market on 20.05. 2022
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index 13.
Stock indices were down yesterday. Nasdaq fell 0.26%, Dow Jones fell 0.75%, S&P 500 shed 0.58% to close at 3900. It has since continued to fall today at 3839. The dollar index too fell and is now around 103.14, expecting a correction to 101 levels.
Shares of Walmart Inc and TGT (retail), which crashed the stock market on May 18, continued to decline and lost 2.74% and 5.06% respectively.
Elon Musk reacted to the exclusion of TESLA from the index, which clearly occurred for reasons far from economics. Talking about ESG and all its environmental topics as a scam.
Talking about scams, an oil company i.e ExxonMobil enters the environmental rating, and the largest manufacturer of electric vehicles is thrown out of this same rating, it really looks like a scam. Not to mention the fact that it was the excessive passion for environmental issues that largely caused the current energy crisis in Europe. There is now a new topic: the health matter of monkeypox. Sweden, France and Italy have cases reported. New York authorities have already bought up several million doses of monkeypox vaccine, and Spain is also announcing its intention to do the same.
Interestingly, back in November 2021, Bill Gates spoke about the danger of new pandemics, called smallpox as a threat. Not a conspiracy theorist, but that's weird.
On the past pandemic- what benefits were received by the world elites. It turned out beautifully, it is difficult to resist repetition. Especially against the backdrop of the breakdown of the world order that existed before that, which is happening now.
The Economist magazine, known for its predictions, came out with a cover predicting a food crisis. We have talked about it here already. From an economic point of view, the food crisis is primarily inflation. Since the rise in food prices will force governments to distribute money to the population (otherwise the governments will be demolished), yet inflation is already at its peak.
Bitcoin worked out the priority option of yesterday's review, remaining in the range indicated there. From the lower border at $28,800, the price went above 30K, tested the strength of 30800. The priority option for today is the movement of Bitcoin in the range with the lower border of $28,800- $28,500 and the upper one at $30,800- $31,200. Ranging price movements can be boring.
The alternative option is fixing above $31,200. If the fall of the dollar index, which was noted yesterday, continues, the chances of working out the alternative option are growing. There is a $5,000 range window. The increase in the dominance index too, which is approaching 45%, should also be noted. When Bitcoin exits the range (in any direction), it will be within the $5K window as mentioned. .
Interesting - FTX exchange begins trading in real shares. So far only for the USA.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index 13.
Stock indices were down yesterday. Nasdaq fell 0.26%, Dow Jones fell 0.75%, S&P 500 shed 0.58% to close at 3900. It has since continued to fall today at 3839. The dollar index too fell and is now around 103.14, expecting a correction to 101 levels.
Shares of Walmart Inc and TGT (retail), which crashed the stock market on May 18, continued to decline and lost 2.74% and 5.06% respectively.
Elon Musk reacted to the exclusion of TESLA from the index, which clearly occurred for reasons far from economics. Talking about ESG and all its environmental topics as a scam.
Talking about scams, an oil company i.e ExxonMobil enters the environmental rating, and the largest manufacturer of electric vehicles is thrown out of this same rating, it really looks like a scam. Not to mention the fact that it was the excessive passion for environmental issues that largely caused the current energy crisis in Europe. There is now a new topic: the health matter of monkeypox. Sweden, France and Italy have cases reported. New York authorities have already bought up several million doses of monkeypox vaccine, and Spain is also announcing its intention to do the same.
Interestingly, back in November 2021, Bill Gates spoke about the danger of new pandemics, called smallpox as a threat. Not a conspiracy theorist, but that's weird.
On the past pandemic- what benefits were received by the world elites. It turned out beautifully, it is difficult to resist repetition. Especially against the backdrop of the breakdown of the world order that existed before that, which is happening now.
The Economist magazine, known for its predictions, came out with a cover predicting a food crisis. We have talked about it here already. From an economic point of view, the food crisis is primarily inflation. Since the rise in food prices will force governments to distribute money to the population (otherwise the governments will be demolished), yet inflation is already at its peak.
Bitcoin worked out the priority option of yesterday's review, remaining in the range indicated there. From the lower border at $28,800, the price went above 30K, tested the strength of 30800. The priority option for today is the movement of Bitcoin in the range with the lower border of $28,800- $28,500 and the upper one at $30,800- $31,200. Ranging price movements can be boring.
The alternative option is fixing above $31,200. If the fall of the dollar index, which was noted yesterday, continues, the chances of working out the alternative option are growing. There is a $5,000 range window. The increase in the dominance index too, which is approaching 45%, should also be noted. When Bitcoin exits the range (in any direction), it will be within the $5K window as mentioned. .
Interesting - FTX exchange begins trading in real shares. So far only for the USA.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the Crypto Market on 21.05.2022
Bitcoin once again tested the lower limit of the trading range, as was indicated in yesterday's review, after which it returned above $29,000. At the time of this writing it's trading for $29,266. Total Crypto Market capitalization $1.249 billion, BTC and ETH dominance index of 44.6% , 19.0%. Fear index 13.
Stock indices yesterday started the session with a strong decline, Nasdaq fell 0.3%, Dow Jones rose 0.03%, S&P 500 rose 0.01% to close at 3901. The dollar index closed near 103, Oil BRENT at 112.
At the beginning of the trading session, the S&P 500 updated the annual low, coming close to 3800, but the support once again resisted and the index returned to its original level. To everything else (inflation, energy and food crisis, the threat of a big war), monkeypox has now been added. Given a number of factors (the inadequacy of the WHO response, the US purchase of a vaccine for 119 million from the Danish company Bavarian Nordic, warnings from Bill Gates about the threat of smallpox back in 2021), it is likely that it is being prepared as a replacement for corona psychosis.
In order to be prepared, the health ministers of the G7 countries in Berlin apparently rehearsed the emergency – with a fictitious illness. Health ministers of the seven leading industrialized countries (G7) discussed the fight against global health crises in Berlin. Future pandemics would have to be recognized more quickly and contained in closer coordination, Federal Minister of Health Karl Lauterbach (SPD) had made it clear in advance as the host. According to “Bild”, the ministers want to play through a concrete scenario. The aim is to simulate a smallpox pandemic that was transmitted to a human through a leopard bite. Source: Who and under what circumstances would be bitten by a leopard, anyway this strongly resembles a bat in a market in Wuhan at the start of coronapsychosis. Monkeypox is a viral zoonotic disease that occurs primarily in tropical rainforest areas of Central and West Africa and is occasionally exported to other regions. Monkeypox typically presents clinically with fever, rash and swollen lymph nodes and may lead to a range of medical complications.
Producer prices (PPI) in Germany rose by 33.5% in April. This is the highest since 1949.
From inflation, regional currencies, the issuers of which struggled with economic problems according to the methods of the Fed (generating money out of thin air), will suffer much more than the dollar.
With Bitcoin working out the priority option of our review. The test of the support area at $28,800- $28,700 is taking place for the third time this week. On the thin weekend market, do not rule out corrections towards $28K, butt by Monday we will be in the same range (lower limit $28,800- $28,500, upper limit $30,800- $31,200.
Interestingly, Vitalik Buterin stopped being the youngest billionaire due to the fact that Ethereum fell. This is temporary. I think he will regain this status by the second half of the year. And in 5-10 years, he will be included in the Forbes list. Unless, of course, by that time the fortunes will still be counted in dollars.
- CTO Tether stated that Terra was not a scam, it was just that the project was not well thought out.
- Binance CEO CZ also did a write up “ CZ’s FAQ 8 - On LUNA/UST and Taking the Right Risks” The link: https://www.binance.com/en/blog/leadership/czs-faq-8--on-lunaust-and-taking-the-right-risks-421499824684903883
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin once again tested the lower limit of the trading range, as was indicated in yesterday's review, after which it returned above $29,000. At the time of this writing it's trading for $29,266. Total Crypto Market capitalization $1.249 billion, BTC and ETH dominance index of 44.6% , 19.0%. Fear index 13.
Stock indices yesterday started the session with a strong decline, Nasdaq fell 0.3%, Dow Jones rose 0.03%, S&P 500 rose 0.01% to close at 3901. The dollar index closed near 103, Oil BRENT at 112.
At the beginning of the trading session, the S&P 500 updated the annual low, coming close to 3800, but the support once again resisted and the index returned to its original level. To everything else (inflation, energy and food crisis, the threat of a big war), monkeypox has now been added. Given a number of factors (the inadequacy of the WHO response, the US purchase of a vaccine for 119 million from the Danish company Bavarian Nordic, warnings from Bill Gates about the threat of smallpox back in 2021), it is likely that it is being prepared as a replacement for corona psychosis.
In order to be prepared, the health ministers of the G7 countries in Berlin apparently rehearsed the emergency – with a fictitious illness. Health ministers of the seven leading industrialized countries (G7) discussed the fight against global health crises in Berlin. Future pandemics would have to be recognized more quickly and contained in closer coordination, Federal Minister of Health Karl Lauterbach (SPD) had made it clear in advance as the host. According to “Bild”, the ministers want to play through a concrete scenario. The aim is to simulate a smallpox pandemic that was transmitted to a human through a leopard bite. Source: Who and under what circumstances would be bitten by a leopard, anyway this strongly resembles a bat in a market in Wuhan at the start of coronapsychosis. Monkeypox is a viral zoonotic disease that occurs primarily in tropical rainforest areas of Central and West Africa and is occasionally exported to other regions. Monkeypox typically presents clinically with fever, rash and swollen lymph nodes and may lead to a range of medical complications.
Producer prices (PPI) in Germany rose by 33.5% in April. This is the highest since 1949.
From inflation, regional currencies, the issuers of which struggled with economic problems according to the methods of the Fed (generating money out of thin air), will suffer much more than the dollar.
With Bitcoin working out the priority option of our review. The test of the support area at $28,800- $28,700 is taking place for the third time this week. On the thin weekend market, do not rule out corrections towards $28K, butt by Monday we will be in the same range (lower limit $28,800- $28,500, upper limit $30,800- $31,200.
Interestingly, Vitalik Buterin stopped being the youngest billionaire due to the fact that Ethereum fell. This is temporary. I think he will regain this status by the second half of the year. And in 5-10 years, he will be included in the Forbes list. Unless, of course, by that time the fortunes will still be counted in dollars.
- CTO Tether stated that Terra was not a scam, it was just that the project was not well thought out.
- Binance CEO CZ also did a write up “ CZ’s FAQ 8 - On LUNA/UST and Taking the Right Risks” The link: https://www.binance.com/en/blog/leadership/czs-faq-8--on-lunaust-and-taking-the-right-risks-421499824684903883
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Binance Blog
CZ’s FAQ 8 - On LUNA/UST and Taking the Right Risks
In the past week, it’s been difficult to escape the UST/LUNA crash. In fact, every interview I participated in revolved to some extent around the situation. To clarify my thoughts on the topic, I’ve collected my answers together, including my views, lessons…
Thoughts on the Crypto market on 23.05.2022.
Bitcoin spent the weekend in the $29,000- $30,500 range. In the last 6 hours we have seen 3 attempts to go above $30,500 with no success. At the time of this writing it is trading $30,140. Total Crypto Market capitalization of $1.286 Trillion, BTC and ETH dominance index of 44.6% and 19.1%, fear index of 10.
Stock markets opened higher. Futures on the S&P 500 are in positive territory, the dollar index is below 103 and continues to decline.
What happened over the weekend? The subject of monkeypox is moving - Belgium is already introducing a 21-day quarantine for those with monkeypox. Only less than 100 people have fallen ill in the world. Truth is monkeypox has always existed. Somehow, vaccination programs are already being prepared.
- Back in March, we spoke about the possible intention of Poland to enter the Western Ukrainian regions. It seems that there are movements in this direction.
Today there will be data on CFNAI (inflation and general economic activity). As a rule, it does not particularly affect the market, except that the values will be very different from the forecast. FED Chair Jorome Powell has a speech tomorrow too.
Today is the first day of the economic forum in Davos, where they can give out anything they want and influence the markets quite significantly.
Bitcoin behaved calmly and predictably over the weekend, remaining within the priority option. The resistance area shifted to $30,500, with three unsuccessful attempts to go higher at night.
The priority option for today is a range with an upper border at $30,500- $30,800 and a lower border at $28,800- $28,500. Alternative - fixing above $30,800.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin spent the weekend in the $29,000- $30,500 range. In the last 6 hours we have seen 3 attempts to go above $30,500 with no success. At the time of this writing it is trading $30,140. Total Crypto Market capitalization of $1.286 Trillion, BTC and ETH dominance index of 44.6% and 19.1%, fear index of 10.
Stock markets opened higher. Futures on the S&P 500 are in positive territory, the dollar index is below 103 and continues to decline.
What happened over the weekend? The subject of monkeypox is moving - Belgium is already introducing a 21-day quarantine for those with monkeypox. Only less than 100 people have fallen ill in the world. Truth is monkeypox has always existed. Somehow, vaccination programs are already being prepared.
- Back in March, we spoke about the possible intention of Poland to enter the Western Ukrainian regions. It seems that there are movements in this direction.
Today there will be data on CFNAI (inflation and general economic activity). As a rule, it does not particularly affect the market, except that the values will be very different from the forecast. FED Chair Jorome Powell has a speech tomorrow too.
Today is the first day of the economic forum in Davos, where they can give out anything they want and influence the markets quite significantly.
Bitcoin behaved calmly and predictably over the weekend, remaining within the priority option. The resistance area shifted to $30,500, with three unsuccessful attempts to go higher at night.
The priority option for today is a range with an upper border at $30,500- $30,800 and a lower border at $28,800- $28,500. Alternative - fixing above $30,800.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 24. 05. 2022
Bitcoin maintains the trading range, with another test of its lower limit. As of the time of writing the review is worth $29.300. With a total crypto market capitalization of $1.260 Trillion, fear index of 12. BTC and ETH dominance index of 44.2% and 18.9% ,
Stock markets were up yesterday. The Nasdaq rose 1.59%, the Dow Jones added 1.98%, the S&P 500 gained 1.86% to close at 3973. The dollar index continues to decline and is now at 102.24
Shares of Apple saw an increase notably of (more than 4%) and JPMorgan (6.19%). This growth is more likely another dead cat bounce. The S&P 500 has not returned above 4000, is still close to 3800, and ahead of the speeches of the Fed representatives (today 4 speeches) and reports of retail companies, which has all the ingredients to shake the markets. There is also an elevated talk of “freedom of speech” in social networks. Davos, talks are now centered on recession and about the global threat of hunger, we have already talked about this here.
Bitcoin worked out the priority option of yesterday's review while continuing to remain in the indicated trading range. Price failed to pass the resistance area at $30,500- $30,800, there was a test of $28,800 and now a return above 29K.
Alts seem to come to life, this is always the case when Bitcoin is in a range for a long time.
With a further decline in the dollar index, the main cryptocurrency has a chance to soon pass the resistance area at $30,500- $30,700. The priority option for today is the previous trading range with the upper limit at $30,500 - $30,800 and the lower limit at $28,800 - $28,500.
Alternative - fixing above $30,800.
Some data, according to a survey by the US Federal Reserve, in 2021, 12% of Americans owned crypto. We recall the $1,200 stimulus cheques and subsequent deposits of the same amounts on Coinbase at the very beginning of Covid-19.
Lastly, a managing partner at Guggenheim, Scott Minerd talked about Bitcoin at 8K during an interview in the ongoing Davos forum. He said Bitcoin could drop further and fall to $8,000 from its current levels. This would be more than 70% from a price of just over $30,000. If Minerd’s forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Interestingly, at the end of 2020, he announced Bitcoin would rally to $400K. Guggenheim partners have 325 billion dollars in assets under management. He also said that most crypto is “junk” but that bitcoin and ethereum will survive. Minerd’s comments come after European Central Bank President Christine Lagarde said cryptocurrencies are “worth nothing.” I wonder why the interest in Bitcoin, yet reading from their balance sheet he ought to be focusing on what is at hand.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin maintains the trading range, with another test of its lower limit. As of the time of writing the review is worth $29.300. With a total crypto market capitalization of $1.260 Trillion, fear index of 12. BTC and ETH dominance index of 44.2% and 18.9% ,
Stock markets were up yesterday. The Nasdaq rose 1.59%, the Dow Jones added 1.98%, the S&P 500 gained 1.86% to close at 3973. The dollar index continues to decline and is now at 102.24
Shares of Apple saw an increase notably of (more than 4%) and JPMorgan (6.19%). This growth is more likely another dead cat bounce. The S&P 500 has not returned above 4000, is still close to 3800, and ahead of the speeches of the Fed representatives (today 4 speeches) and reports of retail companies, which has all the ingredients to shake the markets. There is also an elevated talk of “freedom of speech” in social networks. Davos, talks are now centered on recession and about the global threat of hunger, we have already talked about this here.
Bitcoin worked out the priority option of yesterday's review while continuing to remain in the indicated trading range. Price failed to pass the resistance area at $30,500- $30,800, there was a test of $28,800 and now a return above 29K.
Alts seem to come to life, this is always the case when Bitcoin is in a range for a long time.
With a further decline in the dollar index, the main cryptocurrency has a chance to soon pass the resistance area at $30,500- $30,700. The priority option for today is the previous trading range with the upper limit at $30,500 - $30,800 and the lower limit at $28,800 - $28,500.
Alternative - fixing above $30,800.
Some data, according to a survey by the US Federal Reserve, in 2021, 12% of Americans owned crypto. We recall the $1,200 stimulus cheques and subsequent deposits of the same amounts on Coinbase at the very beginning of Covid-19.
Lastly, a managing partner at Guggenheim, Scott Minerd talked about Bitcoin at 8K during an interview in the ongoing Davos forum. He said Bitcoin could drop further and fall to $8,000 from its current levels. This would be more than 70% from a price of just over $30,000. If Minerd’s forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Interestingly, at the end of 2020, he announced Bitcoin would rally to $400K. Guggenheim partners have 325 billion dollars in assets under management. He also said that most crypto is “junk” but that bitcoin and ethereum will survive. Minerd’s comments come after European Central Bank President Christine Lagarde said cryptocurrencies are “worth nothing.” I wonder why the interest in Bitcoin, yet reading from their balance sheet he ought to be focusing on what is at hand.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market on 25.05.2022
Bitcoin remained in the same trading range after testing the lower limit of $28,800, later moved to the upper zone and at the time of the writing review, Bitcoin is worth $30,149. Total crypto market capitalization of $1.288 Trillion, BTC and ETH dominance index of 44.6% and 18.0%. Fear index is at 11.
Stock markets saw a strong fall and then partially recovered. As a result, the Nasdaq lost 2.35%, the Dow Jones rose 0.15%, the S&P 500 fell 0.81% to close at 3941. The dollar index continues to decline and is now below 102. Values registered back in April. 5 days ago we spoke about this(https://t.me/decryptedge/1116)
When the reports of companies from different sectors show rising costs, falling profits, and in some places falling revenues- this indicates that the economy is moving in the direction of stagflation. The situation was similar during the oil crisis of the 1970s. The Fed coped with the situation by raising the rate to 19%, reducing government spending and taxes, and reducing regulation. The situation is radically different this time. A huge debt burden will not make it possible to raise the rate even to 5%, and the populism of the Democrats and the upcoming catastrophe in the elections make it impossible even to raise the topic of cutting government spending.
Bitcoin continues to move in the range, having once again worked out its priority option. Support at $28,800 has been tested 5 times in the last 10 days, resistance area $30,500- $30,800- 7 times. This means going out of range is going to be powerful.
Buyers actively take out Bitcoin from $29,000 and below, but lose activity above $30,000. Many too are opening shorts above 30K. So far, the scheme is working in the range. The priority option for today is the same trading range with the upper limit at $30,500- $30,800 and the lower limit at $28,800- $28,500. Alternative - fixing above 30800.
Interestingly, I read a report on the state of the crypto industry from the a16z fund. This is a 19.2 billion fund that manages assets in various areas, including crypto.
Crypto market is now like the Internet in the early 2000s. The a16z fund, based on numbers (in particular, the number of Ethereum users), concludes that the crypto market is now at such a stage as the Internet was in 1995. “Prices are the hook. Numbers stimulate interest. Growing interest stimulates ideas and activity. Ideas, in turn, drive innovation. We call this loop the “ price-innovation cycle ” and it has been the driving force that has propelled the industry forward through several different waves since Bitcoin’s inception in 2009.” Dive into the report shared below.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin remained in the same trading range after testing the lower limit of $28,800, later moved to the upper zone and at the time of the writing review, Bitcoin is worth $30,149. Total crypto market capitalization of $1.288 Trillion, BTC and ETH dominance index of 44.6% and 18.0%. Fear index is at 11.
Stock markets saw a strong fall and then partially recovered. As a result, the Nasdaq lost 2.35%, the Dow Jones rose 0.15%, the S&P 500 fell 0.81% to close at 3941. The dollar index continues to decline and is now below 102. Values registered back in April. 5 days ago we spoke about this(https://t.me/decryptedge/1116)
When the reports of companies from different sectors show rising costs, falling profits, and in some places falling revenues- this indicates that the economy is moving in the direction of stagflation. The situation was similar during the oil crisis of the 1970s. The Fed coped with the situation by raising the rate to 19%, reducing government spending and taxes, and reducing regulation. The situation is radically different this time. A huge debt burden will not make it possible to raise the rate even to 5%, and the populism of the Democrats and the upcoming catastrophe in the elections make it impossible even to raise the topic of cutting government spending.
Bitcoin continues to move in the range, having once again worked out its priority option. Support at $28,800 has been tested 5 times in the last 10 days, resistance area $30,500- $30,800- 7 times. This means going out of range is going to be powerful.
Buyers actively take out Bitcoin from $29,000 and below, but lose activity above $30,000. Many too are opening shorts above 30K. So far, the scheme is working in the range. The priority option for today is the same trading range with the upper limit at $30,500- $30,800 and the lower limit at $28,800- $28,500. Alternative - fixing above 30800.
Interestingly, I read a report on the state of the crypto industry from the a16z fund. This is a 19.2 billion fund that manages assets in various areas, including crypto.
Crypto market is now like the Internet in the early 2000s. The a16z fund, based on numbers (in particular, the number of Ethereum users), concludes that the crypto market is now at such a stage as the Internet was in 1995. “Prices are the hook. Numbers stimulate interest. Growing interest stimulates ideas and activity. Ideas, in turn, drive innovation. We call this loop the “ price-innovation cycle ” and it has been the driving force that has propelled the industry forward through several different waves since Bitcoin’s inception in 2009.” Dive into the report shared below.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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KryptoEdge
Good evening, Thoughts on the market on 20.05. 2022
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index…
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index…
Crypto market thoughts on 26.05.2022.
Bitcoin maintains the trading range of $30,230- $29,350 and at the time of writing this review it is trading for $29,855 with a total crypto market capitalization of $1.265 Trillion. BTC and ETH dominance index of 45.1% and 18.6% fear index at 12.
Stock markets were up yesterday, The Nasdaq added 1.51%, the Dow Jones rose 0.60%, the S&P 500 rose 0.95% to close at 3978. The dollar index stabilized around 102. Closed at 101.646.
FED’s FOMC protocols, all members of the FRS support the reduction of the balance sheet and a 0.5% increase in the rate, i.e. nothing unexpected is planned in the area of monetary policy.
The S&P 500 did not make it back above 4,000. The first 100 days of 2022 have been the worst for the index since 1970, same case with the Nasdaq. Data on US GDP and the labor market will be released. The market will evaluate them in terms of their impact on possible decisions of the Fed in the area of monetary policy.
News from Davos: The Brazilian Minister of Economy noted that the combined GDP of the 7 developing BRICS countries (Brazil, Russia, India, China and South Africa plus Mexico and Indonesia) is greater than the combined GDP of the G7 countries. So there is nothing to be surprised that the anti-Russian sanctions are clearly not working as their authors expected: one of the reasons is that the BRICS countries did not support. We spoke about the fact that the danger of sanctions is greatly exaggerated back in February-March. https://t.me/decryptedge/1034. On the same, the Central Bank of the Russian Federation will hold an extraordinary meeting today.
Bitcoin worked out the priority option from yesterday's review. Good to note that the range is shrinking - and price has held above $29,700 for the last 6 hours. Seems that the situation is approaching a denouement. There’s an expiration of options for Bitcoin and Ethereum today, perhaps by this time an exit from this range will take place. If it does not take place, then we remember that money in the market is moving from active to patient.
SAND gets listed on Coinbase today. The story with LUNA continues, version 2.0 is being launched, Binance and Huobi are already supporting the theme. It is unlikely that there will be something good, since all LUNA holders will use the new theme to exit the old one.
“Luna 2.0 will show the world how stupid crypto market players really are.” This was said by Billy Markus, the creator of Dogecoin.
- According to Glassnode, the number of wallets with a balance of 10K BTC is actively growing despite the decline in the price. The number of wallets with a balance of 100 to 1000 BTC is also growing.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin maintains the trading range of $30,230- $29,350 and at the time of writing this review it is trading for $29,855 with a total crypto market capitalization of $1.265 Trillion. BTC and ETH dominance index of 45.1% and 18.6% fear index at 12.
Stock markets were up yesterday, The Nasdaq added 1.51%, the Dow Jones rose 0.60%, the S&P 500 rose 0.95% to close at 3978. The dollar index stabilized around 102. Closed at 101.646.
FED’s FOMC protocols, all members of the FRS support the reduction of the balance sheet and a 0.5% increase in the rate, i.e. nothing unexpected is planned in the area of monetary policy.
The S&P 500 did not make it back above 4,000. The first 100 days of 2022 have been the worst for the index since 1970, same case with the Nasdaq. Data on US GDP and the labor market will be released. The market will evaluate them in terms of their impact on possible decisions of the Fed in the area of monetary policy.
News from Davos: The Brazilian Minister of Economy noted that the combined GDP of the 7 developing BRICS countries (Brazil, Russia, India, China and South Africa plus Mexico and Indonesia) is greater than the combined GDP of the G7 countries. So there is nothing to be surprised that the anti-Russian sanctions are clearly not working as their authors expected: one of the reasons is that the BRICS countries did not support. We spoke about the fact that the danger of sanctions is greatly exaggerated back in February-March. https://t.me/decryptedge/1034. On the same, the Central Bank of the Russian Federation will hold an extraordinary meeting today.
Bitcoin worked out the priority option from yesterday's review. Good to note that the range is shrinking - and price has held above $29,700 for the last 6 hours. Seems that the situation is approaching a denouement. There’s an expiration of options for Bitcoin and Ethereum today, perhaps by this time an exit from this range will take place. If it does not take place, then we remember that money in the market is moving from active to patient.
SAND gets listed on Coinbase today. The story with LUNA continues, version 2.0 is being launched, Binance and Huobi are already supporting the theme. It is unlikely that there will be something good, since all LUNA holders will use the new theme to exit the old one.
“Luna 2.0 will show the world how stupid crypto market players really are.” This was said by Billy Markus, the creator of Dogecoin.
- According to Glassnode, the number of wallets with a balance of 10K BTC is actively growing despite the decline in the price. The number of wallets with a balance of 100 to 1000 BTC is also growing.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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KryptoEdge
It’s Possible to Have More than One World Reserve Currency!
Thoughts on the market as of 03.03.2022
Bitcoin maintained the $43,430- $44,350 range for the past 12 hours. There have been no movements to attempt $45K. At the time of writing, the price is…
Thoughts on the market as of 03.03.2022
Bitcoin maintained the $43,430- $44,350 range for the past 12 hours. There have been no movements to attempt $45K. At the time of writing, the price is…
Thoughts on the Crypto market on 27.05. 2022.
Bitcoin remains in the same trading range, after a short spill to $28,000 price returned back above $29,000 and at the time of writing the review, its trading for $29,034. Total crypto market capitalization of $1.202 Trillion, BTC and ETH dominance index of 46.0% and 17.9%. Fear index of 12.
Stock markets rose again yesterday. The Nasdaq added 2.68%, the Dow Jones rose 1.61% and the S&P 500 gained 1.99% to close at 4057. The dollar index continued to decline and is now below 101.5. (our target from 20.05 attained:https://t.me/decryptedge/1116) There is a probable downside risk as the markets close for the weekend, as after two days of growth, investors may take profits. On the positive side, a falling dollar index (my target 97) is positive for the wall street market, and/or a bounce back to the ATH of 105, bad for crypto.
Oil too continues to rise and is now above 114. US President Joe Biden sent advisors to Saudi Arabia to persuade the Saudis to increase oil production. Judging by oil prices, the mission failed. Given the Saudis' previous statements about Russia's support as an OPEC member, this is expected. Also consider that Saudi Arabia and Argentina are considering joining the BRICS.
Bitcoin is within the trading range and is still holding, but the last day is clearly under pressure. Yesterday's straight correction to $28,003, seems to have been triggered by a layered stop loss levels placed by most traders who have opened long positions. The correction was redeemed but could not even approach $30K, despite the positive external background. We considered the review for the development of events while Bitcoin is within the priority option. fixing below $28K is a transition to an alternative variant. Altcoins are more likely to see a serious draw down, with most projects going into oblivion and never to see a comeback. This will happen when Bitcoin leaves the range in any direction, the process will intensify. ETH dominance is drastically falling, my target stop is around $1,300 - $1,100 from now. That's a -30% drawdown from $1,770, perhaps a trigger to the altcoin dominos.
-Elon Musk is now being sued in a California court by Twitter shareholders. They will accuse EM of market manipulation.
- Mastercard CEO Michael Miebach said he expects SWIFT to end in five years. Speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland.
- Launch of Terra 2.0 network goes live today. I am skeptical about the prospects. If you hold LUNA and UST, participate and take whatever is given. If you want to buy LUNA or UST now, consider this quote from Billy Markus, the creator of Dogecoin (DOGE) the largest meme token, “It’s quite literally the stupidest thing I have ever seen in my life,” Markus went ahead and called the founders of Terra and Luna “tech bro hubris” and “degenerate gamblers.” “Luna 2.0 will show the world just how truly dumb crypto gamblers really are”. He criticized the new blockchain hurriedly designed to save the collapsed ecosystem and its teeming users. Just buy and hold, BTC, ETH and BNB.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin remains in the same trading range, after a short spill to $28,000 price returned back above $29,000 and at the time of writing the review, its trading for $29,034. Total crypto market capitalization of $1.202 Trillion, BTC and ETH dominance index of 46.0% and 17.9%. Fear index of 12.
Stock markets rose again yesterday. The Nasdaq added 2.68%, the Dow Jones rose 1.61% and the S&P 500 gained 1.99% to close at 4057. The dollar index continued to decline and is now below 101.5. (our target from 20.05 attained:https://t.me/decryptedge/1116) There is a probable downside risk as the markets close for the weekend, as after two days of growth, investors may take profits. On the positive side, a falling dollar index (my target 97) is positive for the wall street market, and/or a bounce back to the ATH of 105, bad for crypto.
Oil too continues to rise and is now above 114. US President Joe Biden sent advisors to Saudi Arabia to persuade the Saudis to increase oil production. Judging by oil prices, the mission failed. Given the Saudis' previous statements about Russia's support as an OPEC member, this is expected. Also consider that Saudi Arabia and Argentina are considering joining the BRICS.
Bitcoin is within the trading range and is still holding, but the last day is clearly under pressure. Yesterday's straight correction to $28,003, seems to have been triggered by a layered stop loss levels placed by most traders who have opened long positions. The correction was redeemed but could not even approach $30K, despite the positive external background. We considered the review for the development of events while Bitcoin is within the priority option. fixing below $28K is a transition to an alternative variant. Altcoins are more likely to see a serious draw down, with most projects going into oblivion and never to see a comeback. This will happen when Bitcoin leaves the range in any direction, the process will intensify. ETH dominance is drastically falling, my target stop is around $1,300 - $1,100 from now. That's a -30% drawdown from $1,770, perhaps a trigger to the altcoin dominos.
-Elon Musk is now being sued in a California court by Twitter shareholders. They will accuse EM of market manipulation.
- Mastercard CEO Michael Miebach said he expects SWIFT to end in five years. Speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland.
- Launch of Terra 2.0 network goes live today. I am skeptical about the prospects. If you hold LUNA and UST, participate and take whatever is given. If you want to buy LUNA or UST now, consider this quote from Billy Markus, the creator of Dogecoin (DOGE) the largest meme token, “It’s quite literally the stupidest thing I have ever seen in my life,” Markus went ahead and called the founders of Terra and Luna “tech bro hubris” and “degenerate gamblers.” “Luna 2.0 will show the world just how truly dumb crypto gamblers really are”. He criticized the new blockchain hurriedly designed to save the collapsed ecosystem and its teeming users. Just buy and hold, BTC, ETH and BNB.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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KryptoEdge
Good evening, Thoughts on the market on 20.05. 2022
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index…
Bitcoin, tested the lower boundary range of $28,800 and headed straight to its upper boundary. Total Crypto market capitalization of $1.231 Trillion, BTC and ETH dominance of 44.6% ETH: 18.9%. Fear index…
Thoughts on the Crypto market as of May 31, 2022
Bitcoin went out of the range and attained a high above $32,220, followed by a rollback to $31,500. At the time of writing this review, Bitcoin is worth $31,553. Total crypto market capitalization of $1.307 Trillion, BTC and ETH dominance index of 46.0% and 18.2% , fear index at 16.
Yesterday, inflation data in Germany came out - 7.9%, a record for 50 years. In Belgium 9%, in Spain - 8.7%. Against this background, the ECB is only going to abandon the negative rate by September. It is very likely that by the second half of the year inflation in the EU will already be double-digit. Especially if they impose an embargo on oil and thereby disperse its price towards 130-150. BRENT is already above 118 amid reports that a partial embargo has been reached. We mentioned yesterday about the EU's inability to defend its economic interests. I forgot to post it but did so on LinkedIn(https://www.linkedin.com/feed/update/urn:li:activity:6936992221611061248)
Biden and Powell will meet today, perhaps there will be important statements, while the markets are moderately positive. Tough rhetoric, about fighting inflation at any cost can plunge the markets into negative and falling. Given that Biden can say whatever he wants (because his "cognitive abilities are already a threat to national security" - Congressman Ronnie Jackson), the risks of such an outcome are also present. The S&P 500 futures are in a slight positive, Asian indices too, the dollar index, has seen a bounce back too, it's not clear yet which way it will swing. On either outcome read here(https://t.me/decryptedge/1124)
Bitcoin worked out the priority option of our review, having consolidated above $31,500. At the same time, local highs reached above $32,200, followed by a rollback to $31,500 with a retest of this level. For further growth, it is necessary to pass the resistance area at $31,800- $32,200. The priority option for today is Bitcoin in the range with the upper limit of $32,000- $32,200 and the lower one at $30,500- $30,200. An alternative option is fixing above $32,200 and further growth.
From an interesting: Dogecoin co-creator Jackson Palmer said in a new interview he wishes “it was the end of crypto, but it’s not,” and that “increasingly people are doing nothing but making money off doing nothing, it’s kind of fucked us all up.” He also shot down the idea there might be a “crypto winter” around the corner saying: “I still see heaps of money being funneled in by crypto promoters. They’re waiting for a fresh batch of fools to come in. This happens in cycles.” At the end of the interview however, contrary to his earlier comment he said, “I think there’s going to need to be a crash. I think we’re well overdue for some sort of pop, and I don’t think it’s going to be a big boom. It’s going to be a lot more painful, and unfortunately, it will probably affect minorities and those [at the] lower end of the socioeconomic spectrum when it happens.”
So be the judge, you know our bias.(https://t.me/decryptedge/1104) This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin went out of the range and attained a high above $32,220, followed by a rollback to $31,500. At the time of writing this review, Bitcoin is worth $31,553. Total crypto market capitalization of $1.307 Trillion, BTC and ETH dominance index of 46.0% and 18.2% , fear index at 16.
Yesterday, inflation data in Germany came out - 7.9%, a record for 50 years. In Belgium 9%, in Spain - 8.7%. Against this background, the ECB is only going to abandon the negative rate by September. It is very likely that by the second half of the year inflation in the EU will already be double-digit. Especially if they impose an embargo on oil and thereby disperse its price towards 130-150. BRENT is already above 118 amid reports that a partial embargo has been reached. We mentioned yesterday about the EU's inability to defend its economic interests. I forgot to post it but did so on LinkedIn(https://www.linkedin.com/feed/update/urn:li:activity:6936992221611061248)
Biden and Powell will meet today, perhaps there will be important statements, while the markets are moderately positive. Tough rhetoric, about fighting inflation at any cost can plunge the markets into negative and falling. Given that Biden can say whatever he wants (because his "cognitive abilities are already a threat to national security" - Congressman Ronnie Jackson), the risks of such an outcome are also present. The S&P 500 futures are in a slight positive, Asian indices too, the dollar index, has seen a bounce back too, it's not clear yet which way it will swing. On either outcome read here(https://t.me/decryptedge/1124)
Bitcoin worked out the priority option of our review, having consolidated above $31,500. At the same time, local highs reached above $32,200, followed by a rollback to $31,500 with a retest of this level. For further growth, it is necessary to pass the resistance area at $31,800- $32,200. The priority option for today is Bitcoin in the range with the upper limit of $32,000- $32,200 and the lower one at $30,500- $30,200. An alternative option is fixing above $32,200 and further growth.
From an interesting: Dogecoin co-creator Jackson Palmer said in a new interview he wishes “it was the end of crypto, but it’s not,” and that “increasingly people are doing nothing but making money off doing nothing, it’s kind of fucked us all up.” He also shot down the idea there might be a “crypto winter” around the corner saying: “I still see heaps of money being funneled in by crypto promoters. They’re waiting for a fresh batch of fools to come in. This happens in cycles.” At the end of the interview however, contrary to his earlier comment he said, “I think there’s going to need to be a crash. I think we’re well overdue for some sort of pop, and I don’t think it’s going to be a big boom. It’s going to be a lot more painful, and unfortunately, it will probably affect minorities and those [at the] lower end of the socioeconomic spectrum when it happens.”
So be the judge, you know our bias.(https://t.me/decryptedge/1104) This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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Thoughts on the market as of 30.05. 2022
Bitcoin remained in the range that was last indicated on Friday. A few hours ago,it touched the upper range...
Bitcoin remained in the range that was last indicated on Friday. A few hours ago,it touched the upper range...
Thoughts on the Crypto market as of 1st June 2022, Happy Madaraka Day!
Bitcoin updated a high above $32,420 and held above 32K for several hours, before falling back to $31,755. TOtal crypto market capitalization of $1.307 Trillion, BTC and ETH dominance index of 46.3% and 18.1%, fear index 17.
US indices were down yesterday. The Nasdaq shed 0.41%, the Dow Jones shed 0.67%, while the S&P 500 lost by 0.63% to close at 4132. As of this writing it's shading the gains and heading back to 4000. The dollar index has seen a bounce but still remains below 102. The Fed's rhetoric is still quite tough (raising rates, fighting inflation). In addition, the previously agreed reduction of the balance sheet will begin from today (by $47.5 billion a month for the time being, then, if nothing changes, by $95 billion). Biden's meeting with Powell was all about the need to fight inflation, declaring it a "top economic priority." At the same time, Biden stated several times that he respects the independence of the Fed and will not interfere in its work.
This could mean the following:
1. Biden has identified the fight against inflation as a priority for the Fed, rates will be raised, despite the fall of the markets. For the consequences in the form of falling markets (of which at least half of the voters are participants), let the Fed be responsible, as they are independent.
2. They will work out this option (to soften the rhetoric, the priority is the growth of markets before the elections in November). Let the Fed be responsible for the consequences of even higher inflation.
3. Biden, due to the deterioration of "cognitive abilities" (as Congressman Ronnie Jackson spoke about), mixed up the texts and said the wrong thing.
For markets, option 2 is best. Which path the Fed will take and whether they will implement an option that allows the Democrats to avoid defeat in the elections in November will be clear from the Fed meeting on June 15. That they will raise the rate by 0.5% is understandable. The question is what will be said.
Bitcoin hit new highs again and held above 32K for several hours. The consolidation failed, the resistance area at 32200-32500, which Bitcoin could not pass on May 10-11, has withstood even now. Price is working out the priority variant of yesterday's review, and in case of a negative external background, it may move to the lower border of the range, i.e. to $30,500- $30,200. Movement in the range with the lower border at $30,500- $30,200 and the upper at $32,200- $32,500 will be a priority option for today. Fixing above 32500 is an alternative option. The Bitcoin Dominance Index continues to rise. Money moves from alts to Bitcoin. With the rapid growth of Bitcoin above 35K, some altcoins may see growth values of 50% and above.
- Fidelity (which is one of the four largest asset management companies in the world) now offers ETH trading and storage services.
- Do Kwon (owner of LUNA and LUNA 2.0), is about to launch another stablecoin. In total disregard of the losses suffered by investors and a full-scale investigation by the Supreme Prosecutors' Office Republic of South Korea. One of the main reasons behind the investigation is that Do Kwon allegedly knew the risks of launching an algorithmic stablecoin and the potential for its collapse. The prosecution affirmed that a statement was issued against the launch of TerraUSD (UST) because the pilot model had failed before. An individual familiar with the matter said: "If you pay interest of several tens of percent to investors without a stable collateral or profit model, people may flock to you at the beginning," but "at a certain point in time, it has no choice but to collapse because it cannot handle interest payments and fluctuations in value." What is that commonly referred to?
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin updated a high above $32,420 and held above 32K for several hours, before falling back to $31,755. TOtal crypto market capitalization of $1.307 Trillion, BTC and ETH dominance index of 46.3% and 18.1%, fear index 17.
US indices were down yesterday. The Nasdaq shed 0.41%, the Dow Jones shed 0.67%, while the S&P 500 lost by 0.63% to close at 4132. As of this writing it's shading the gains and heading back to 4000. The dollar index has seen a bounce but still remains below 102. The Fed's rhetoric is still quite tough (raising rates, fighting inflation). In addition, the previously agreed reduction of the balance sheet will begin from today (by $47.5 billion a month for the time being, then, if nothing changes, by $95 billion). Biden's meeting with Powell was all about the need to fight inflation, declaring it a "top economic priority." At the same time, Biden stated several times that he respects the independence of the Fed and will not interfere in its work.
This could mean the following:
1. Biden has identified the fight against inflation as a priority for the Fed, rates will be raised, despite the fall of the markets. For the consequences in the form of falling markets (of which at least half of the voters are participants), let the Fed be responsible, as they are independent.
2. They will work out this option (to soften the rhetoric, the priority is the growth of markets before the elections in November). Let the Fed be responsible for the consequences of even higher inflation.
3. Biden, due to the deterioration of "cognitive abilities" (as Congressman Ronnie Jackson spoke about), mixed up the texts and said the wrong thing.
For markets, option 2 is best. Which path the Fed will take and whether they will implement an option that allows the Democrats to avoid defeat in the elections in November will be clear from the Fed meeting on June 15. That they will raise the rate by 0.5% is understandable. The question is what will be said.
Bitcoin hit new highs again and held above 32K for several hours. The consolidation failed, the resistance area at 32200-32500, which Bitcoin could not pass on May 10-11, has withstood even now. Price is working out the priority variant of yesterday's review, and in case of a negative external background, it may move to the lower border of the range, i.e. to $30,500- $30,200. Movement in the range with the lower border at $30,500- $30,200 and the upper at $32,200- $32,500 will be a priority option for today. Fixing above 32500 is an alternative option. The Bitcoin Dominance Index continues to rise. Money moves from alts to Bitcoin. With the rapid growth of Bitcoin above 35K, some altcoins may see growth values of 50% and above.
- Fidelity (which is one of the four largest asset management companies in the world) now offers ETH trading and storage services.
- Do Kwon (owner of LUNA and LUNA 2.0), is about to launch another stablecoin. In total disregard of the losses suffered by investors and a full-scale investigation by the Supreme Prosecutors' Office Republic of South Korea. One of the main reasons behind the investigation is that Do Kwon allegedly knew the risks of launching an algorithmic stablecoin and the potential for its collapse. The prosecution affirmed that a statement was issued against the launch of TerraUSD (UST) because the pilot model had failed before. An individual familiar with the matter said: "If you pay interest of several tens of percent to investors without a stable collateral or profit model, people may flock to you at the beginning," but "at a certain point in time, it has no choice but to collapse because it cannot handle interest payments and fluctuations in value." What is that commonly referred to?
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the Crypto market on 02.06.2022
Bitcoin, after yesterday's decline during the American session, did not stay above 30K, reaching a low around $29,350. Total Crypto market capitalization of $1.234 Trillion, BTC and ETH dominance index of 46.11, 17.8%, fear index 13.
US indices were down yesterday, Nasdaq lost 0.72%, Dow Jones lost 0.54%, S&P 500 lost 0.75% to close at 4101. The dollar index continues the bounce back reaching 102.618
Bullard from the Fed said that it would be ideal to reach the peak rate as early as this year, not to raise it above 3.5%, and to start cutting the rate at the end of 2023. This is but a verbal intervention of intention. We shall see real moves this month. We talked about the options yesterday. The price of oil fell by 2%. Reasons - investors figured out that the embargo on Russian oil is somewhat decorative and the real reduction in supply will occur in 6-8 months. There will be an OPEC meeting today, and data on oil reserves in the US, so strong price movements are possible. Secondly, there is a threat of falling demand for oil due to the expected recession in the US.
There was news that part of the US administration is against the confiscation of blocked Russian assets. In particular, Treasury Secretary Yelen fears that this could undermine the US reputation as a "safe haven for investment."
The priority option for today is Bitcoin in the range with the lower border of $28,300-$28,000 and the upper one at $30,300- $30500. Alternative - fixing above $30,500. In the case of Bitcoin moving towards 28K, an increase in the dominance index is possible, since altcoins will fall much more strongly. ETH dominance is notably falling. The growth of the dollar index will lead to a fall in the exchange rates of national currencies and strong inflation.
Lastly, a former OpenSea CEO Nate Chastain was arrested and charged in New York. U.S. prosecutors in Manhattan on Wednesday charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.
There is a negative about STEPN - allegedly one of the founders was arrested in London and the equipment was confiscated, no confirmation yet on this news, maybe just FUD. It has seen a -12.4% draw down in price already. SOL prices too have taken a massive hit, tanking almost 14% over the past 12 hours or so in a fall below $40, according to CoinGecko. The network’s native token has now slumped 85% from its November 2021 all-time high of $260. It suffered its fifth outage of 2022, and the year is only five months old. A bug-related consensus failure was the culprit this time.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin, after yesterday's decline during the American session, did not stay above 30K, reaching a low around $29,350. Total Crypto market capitalization of $1.234 Trillion, BTC and ETH dominance index of 46.11, 17.8%, fear index 13.
US indices were down yesterday, Nasdaq lost 0.72%, Dow Jones lost 0.54%, S&P 500 lost 0.75% to close at 4101. The dollar index continues the bounce back reaching 102.618
Bullard from the Fed said that it would be ideal to reach the peak rate as early as this year, not to raise it above 3.5%, and to start cutting the rate at the end of 2023. This is but a verbal intervention of intention. We shall see real moves this month. We talked about the options yesterday. The price of oil fell by 2%. Reasons - investors figured out that the embargo on Russian oil is somewhat decorative and the real reduction in supply will occur in 6-8 months. There will be an OPEC meeting today, and data on oil reserves in the US, so strong price movements are possible. Secondly, there is a threat of falling demand for oil due to the expected recession in the US.
There was news that part of the US administration is against the confiscation of blocked Russian assets. In particular, Treasury Secretary Yelen fears that this could undermine the US reputation as a "safe haven for investment."
The priority option for today is Bitcoin in the range with the lower border of $28,300-$28,000 and the upper one at $30,300- $30500. Alternative - fixing above $30,500. In the case of Bitcoin moving towards 28K, an increase in the dominance index is possible, since altcoins will fall much more strongly. ETH dominance is notably falling. The growth of the dollar index will lead to a fall in the exchange rates of national currencies and strong inflation.
Lastly, a former OpenSea CEO Nate Chastain was arrested and charged in New York. U.S. prosecutors in Manhattan on Wednesday charged a former product manager at OpenSea, the largest online marketplace for non-fungible tokens, with insider trading, the first such case involving digital assets.
There is a negative about STEPN - allegedly one of the founders was arrested in London and the equipment was confiscated, no confirmation yet on this news, maybe just FUD. It has seen a -12.4% draw down in price already. SOL prices too have taken a massive hit, tanking almost 14% over the past 12 hours or so in a fall below $40, according to CoinGecko. The network’s native token has now slumped 85% from its November 2021 all-time high of $260. It suffered its fifth outage of 2022, and the year is only five months old. A bug-related consensus failure was the culprit this time.
This is not traditional investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 03.06.2022
Bitcoin maintains the $29,600- $30,700 and at the time of this writing its trading for $29,530. Total crypto market capitalization of $1.262 Trillion, BTC and ETH dominance index of 46.3% and 17.5% fear index 10.
American indices grew yesterday. The Nasdaq rose 2.69%, the Dow Jones rose 1.33% and the S&P 500 gained 1.84% to close at 4176 where it currently is. The dollar index is falling and is now at 101.77 The Fed's Mester said that inflation has not peaked yet, and the rate needs to be raised quickly to 2.5% and possibly more. She sees a need for Aggressive rate hikes at next two meetings
It is difficult to call it positive, but the market liked the sentiments, the S&P 500 returned to the levels of early May, and the fall of the volatility index to a monthly low indicates a decrease in fear among market participants, but let's not get comfortable. JPMorgan Chase & Co.CEO Jamie Dimon is less optimistic. He talks about a hurricane that will soon cover the American economy, and the Fed may not be able to cope with the situation. He promises oil at 175, and sees the quantitative tightening of unprecedented proportions as the main risk.
Quantitative tightening is carried out for the second time in history. What happened for the first time you may be wondering. Will share it on our telegram channel later tonight.
Bitcoin worked out yesterday’s priority review, with a correction below $29,800. Bitcoin has since held above 30K for over 12 hours and it just lost that support as of this writing.
If fixing above $30,500 is not possible, Bitcoin will return to the previous trading range (lower limit at $28,300- $28,000 and upper limit at $30,300- $30,500).
Some news, - The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the Gemini exchange. The reason is that CFTC employees were allegedly misled back in 2017 when the Gemini exchange product was used to determine the price of Chicago Board Options Exchange (CBOE) Bitcoin settlement futures. Why the topic has become relevant now, after 5 years, is not clear, but Gemini clearly has problems, they are reducing their staff. So I won't be surprised if there is some FUD around this exchange.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin maintains the $29,600- $30,700 and at the time of this writing its trading for $29,530. Total crypto market capitalization of $1.262 Trillion, BTC and ETH dominance index of 46.3% and 17.5% fear index 10.
American indices grew yesterday. The Nasdaq rose 2.69%, the Dow Jones rose 1.33% and the S&P 500 gained 1.84% to close at 4176 where it currently is. The dollar index is falling and is now at 101.77 The Fed's Mester said that inflation has not peaked yet, and the rate needs to be raised quickly to 2.5% and possibly more. She sees a need for Aggressive rate hikes at next two meetings
It is difficult to call it positive, but the market liked the sentiments, the S&P 500 returned to the levels of early May, and the fall of the volatility index to a monthly low indicates a decrease in fear among market participants, but let's not get comfortable. JPMorgan Chase & Co.CEO Jamie Dimon is less optimistic. He talks about a hurricane that will soon cover the American economy, and the Fed may not be able to cope with the situation. He promises oil at 175, and sees the quantitative tightening of unprecedented proportions as the main risk.
Quantitative tightening is carried out for the second time in history. What happened for the first time you may be wondering. Will share it on our telegram channel later tonight.
Bitcoin worked out yesterday’s priority review, with a correction below $29,800. Bitcoin has since held above 30K for over 12 hours and it just lost that support as of this writing.
If fixing above $30,500 is not possible, Bitcoin will return to the previous trading range (lower limit at $28,300- $28,000 and upper limit at $30,300- $30,500).
Some news, - The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the Gemini exchange. The reason is that CFTC employees were allegedly misled back in 2017 when the Gemini exchange product was used to determine the price of Chicago Board Options Exchange (CBOE) Bitcoin settlement futures. Why the topic has become relevant now, after 5 years, is not clear, but Gemini clearly has problems, they are reducing their staff. So I won't be surprised if there is some FUD around this exchange.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 04.06.2022
Bitcoin yesterday was in the range of $30,700- $29,300 and at the time of writing the review it is trading for $29,654. Total crypto market capitalization of $1.214 Trillion, BTC and ETH dominance index 46.4% and 17.5%, fear index 14.
American indices fell yesterday, the Nasdaq shed 2.47%, the Dow Jones lost 1.05% and the S&P 500 fell 1.63% to close at 4108. The dollar index returned above 102 to close at 102.185. TESLA shares fell 9.22% and Apple shares, which have a significant weight in the indices, fell by 3.86%. Elon Musk prospects for the twitter deal are still not clear, since Musk either wants to buy Twitter much cheaper than agreed, or after the audit, this idea has ceased to seem attractive to him at all. Remember too the recent bad GDP data coming out and the markets going up? They grew not because the worse things are in the economy, but more likely it's that the Fed will not get involved in tightening monetary policy.
The situation was reversed yesterday- good data on the US labor market came out. This means that there are more chances that the Fed will raise rates and reduce the balance sheet in the near future. This is negative for the markets. In the past, markets grew on good statistics: the better things are in the economy, the more profitable the activities of companies will be, the more their shares and the market as a whole will grow. Rational and logical.
On the contrary the markets are rising on bad data - the worse things are in the economy, the sooner the Fed will start pouring money into it. Markets fall on good data, because in this case the Fed will start fighting inflation and withdraw money from the economy.
This irrationality appeared after the crisis of 2008-2009.
Bitcoin failed to gain a foothold above $30,500 and remains in the same trading range. Inside the large range of 28K-32K, which has been for almost a month, an intermediate support has formed at $29,300-$29,500. If it holds in the thin weekend market, it will be a good base for another test of the upper end of the range, ie. areas of $31,800-$32,200.
The Bitcoin Dominance Index continues to rise while altcoins fall. There is growing fear and uncertainty in the market, which will peak if Bitcoin moves to $28K. If the support at $29,300- $29,500 is stable and Bitcoin goes above $30K, altcoins will show growth, but I think that Bitcoin dominance will not fall significantly yet, as it is clearly preparing for strong movements in the wait.
Yesterday I talked about the past Fed's balance sheet cut, this is the second time in history. The first time was at the end of 2017-2018. Then the S&P 500 fell 16%. Many believe that the markets are now waiting for an equally sad outcome which is rational.
There may not be a strong drop from current levels, the main reason being that there is too much money in the market, which, in conditions of record inflation, simply has nowhere to go.
As Ray Dalio (billionaire and founder of a fund with assets of $160 billion) said, cash is trash.
He only said this when inflation is 4 times less than now. This statement is now 4 times more true.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Great weekend ahead.
Bitcoin yesterday was in the range of $30,700- $29,300 and at the time of writing the review it is trading for $29,654. Total crypto market capitalization of $1.214 Trillion, BTC and ETH dominance index 46.4% and 17.5%, fear index 14.
American indices fell yesterday, the Nasdaq shed 2.47%, the Dow Jones lost 1.05% and the S&P 500 fell 1.63% to close at 4108. The dollar index returned above 102 to close at 102.185. TESLA shares fell 9.22% and Apple shares, which have a significant weight in the indices, fell by 3.86%. Elon Musk prospects for the twitter deal are still not clear, since Musk either wants to buy Twitter much cheaper than agreed, or after the audit, this idea has ceased to seem attractive to him at all. Remember too the recent bad GDP data coming out and the markets going up? They grew not because the worse things are in the economy, but more likely it's that the Fed will not get involved in tightening monetary policy.
The situation was reversed yesterday- good data on the US labor market came out. This means that there are more chances that the Fed will raise rates and reduce the balance sheet in the near future. This is negative for the markets. In the past, markets grew on good statistics: the better things are in the economy, the more profitable the activities of companies will be, the more their shares and the market as a whole will grow. Rational and logical.
On the contrary the markets are rising on bad data - the worse things are in the economy, the sooner the Fed will start pouring money into it. Markets fall on good data, because in this case the Fed will start fighting inflation and withdraw money from the economy.
This irrationality appeared after the crisis of 2008-2009.
Bitcoin failed to gain a foothold above $30,500 and remains in the same trading range. Inside the large range of 28K-32K, which has been for almost a month, an intermediate support has formed at $29,300-$29,500. If it holds in the thin weekend market, it will be a good base for another test of the upper end of the range, ie. areas of $31,800-$32,200.
The Bitcoin Dominance Index continues to rise while altcoins fall. There is growing fear and uncertainty in the market, which will peak if Bitcoin moves to $28K. If the support at $29,300- $29,500 is stable and Bitcoin goes above $30K, altcoins will show growth, but I think that Bitcoin dominance will not fall significantly yet, as it is clearly preparing for strong movements in the wait.
Yesterday I talked about the past Fed's balance sheet cut, this is the second time in history. The first time was at the end of 2017-2018. Then the S&P 500 fell 16%. Many believe that the markets are now waiting for an equally sad outcome which is rational.
There may not be a strong drop from current levels, the main reason being that there is too much money in the market, which, in conditions of record inflation, simply has nowhere to go.
As Ray Dalio (billionaire and founder of a fund with assets of $160 billion) said, cash is trash.
He only said this when inflation is 4 times less than now. This statement is now 4 times more true.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Great weekend ahead.
Thoughts on the Crypto market as of 06.06.2022.
The weekend registered a period of minimal volatility, which saw bitcoin move up to highs above $31K, at the time of writing the review, it was trading for $30,956.
Total Crypto Market capitalization of $1.269 Trillion, BTC and ETH dominance index of 46.4% and 17.8% , fear index 13.
Stock markets opened positive. Futures on the S&P 500 show a slight increase, the dollar index is slightly above 102, oil is above 120.
The Fed's balance sheet cuts began last week. As long as the markets bear it normal, there was not even a decline to the May lows. The principle of “the worse, the better” is visible, and vice versa. A negative forecast for GDP causes growth, while strong data on the labor market causes a fall. Data about the weakening economy increases the likelihood that the Fed will begin to rescue it in the usual way, with a strong economy, the likelihood of further tightening of monetary policy to combat inflation increases.
I think there will be a similar story this week. Data on the US trade balance and labor market will be released, the main event for the market will be the release of inflation data for May on Friday. Biden has already stated that it is impossible to lower the prices of gasoline and groceries. If he shifts the blame and states this fact is on Putin, then the Democrats have no chance at the November elections. Especially if the stock market also collapses due to the actions of the Fed. On the other hand if the Fed does not put much pressure on gas with a tightening of the monetary policy, stock indices will grow by 10-15%, and some benefits will begin to be distributed to combat rising prices, this will be a chance to avoid defeat in the upcoming elections in November.
Bitcoin spent the weekend with minimal volatility. The intermediate support at $29,300- $29,500 that we talked about on Saturday held and ended up with an upward momentum. At the moment, Bitcoin is already above 31K. It seems that the next test of the upper limit of the trading range, in which Bitcoin has been for almost a month, will take place today. For further growth, it is necessary to gain a foothold above the resistance area at $31,800- $32,200. This is the priority for the week. Let's see if it happens in the next few days.
The priority option for today is the growth of Bitcoin to the area of $31,800- $32,200, further depending on the reaction to this level. An alternative option is movement in the range with the upper border $31,500- $31,800 and the lower one at $29,500- $29,300.
To some news, - The head of the Central Bank of India said that CBDC (Central Bank Digital Currencies) will kill private cryptocurrencies. Strange statement. CBDC’s is a completely different asset class that does not have any of the inherent advantages of cryptocurrencies. A digital dollar, euro to rupee clearly does not pose a threat to Bitcoin or Ethereum.
- From June 9 to 12, an event that has been held 2015. It has been recognized as the most important and influential for the crypto market. The Consensus Festival by (https://www.coindesk.com/consensus2022/) CoinDesk will take place in Austin, Texas. There will be many well-known people, significant statements for the market are possible.
- Microstrategy CEO Mike Saylor, spoke about Bitcoin noting the following:.
;most do not understand what BTC is
;short-term volatility in BTC is irrelevant
;Microstrategy is not going to sell BTC
I couldn't agree more with that. Many people really do not understand the essence of this asset, otherwise they would not expect Bitcoin at 8K in the current geopolitical situation. Bitcoin at $28K is no different from Bitcoin at $50K or 7K. Therefore, it doesn’t matter how much Bitcoin costs, it matters how much you have. Microstrategy's plans not to sell are a consequence of Sailor getting it all right.
The weekend registered a period of minimal volatility, which saw bitcoin move up to highs above $31K, at the time of writing the review, it was trading for $30,956.
Total Crypto Market capitalization of $1.269 Trillion, BTC and ETH dominance index of 46.4% and 17.8% , fear index 13.
Stock markets opened positive. Futures on the S&P 500 show a slight increase, the dollar index is slightly above 102, oil is above 120.
The Fed's balance sheet cuts began last week. As long as the markets bear it normal, there was not even a decline to the May lows. The principle of “the worse, the better” is visible, and vice versa. A negative forecast for GDP causes growth, while strong data on the labor market causes a fall. Data about the weakening economy increases the likelihood that the Fed will begin to rescue it in the usual way, with a strong economy, the likelihood of further tightening of monetary policy to combat inflation increases.
I think there will be a similar story this week. Data on the US trade balance and labor market will be released, the main event for the market will be the release of inflation data for May on Friday. Biden has already stated that it is impossible to lower the prices of gasoline and groceries. If he shifts the blame and states this fact is on Putin, then the Democrats have no chance at the November elections. Especially if the stock market also collapses due to the actions of the Fed. On the other hand if the Fed does not put much pressure on gas with a tightening of the monetary policy, stock indices will grow by 10-15%, and some benefits will begin to be distributed to combat rising prices, this will be a chance to avoid defeat in the upcoming elections in November.
Bitcoin spent the weekend with minimal volatility. The intermediate support at $29,300- $29,500 that we talked about on Saturday held and ended up with an upward momentum. At the moment, Bitcoin is already above 31K. It seems that the next test of the upper limit of the trading range, in which Bitcoin has been for almost a month, will take place today. For further growth, it is necessary to gain a foothold above the resistance area at $31,800- $32,200. This is the priority for the week. Let's see if it happens in the next few days.
The priority option for today is the growth of Bitcoin to the area of $31,800- $32,200, further depending on the reaction to this level. An alternative option is movement in the range with the upper border $31,500- $31,800 and the lower one at $29,500- $29,300.
To some news, - The head of the Central Bank of India said that CBDC (Central Bank Digital Currencies) will kill private cryptocurrencies. Strange statement. CBDC’s is a completely different asset class that does not have any of the inherent advantages of cryptocurrencies. A digital dollar, euro to rupee clearly does not pose a threat to Bitcoin or Ethereum.
- From June 9 to 12, an event that has been held 2015. It has been recognized as the most important and influential for the crypto market. The Consensus Festival by (https://www.coindesk.com/consensus2022/) CoinDesk will take place in Austin, Texas. There will be many well-known people, significant statements for the market are possible.
- Microstrategy CEO Mike Saylor, spoke about Bitcoin noting the following:.
;most do not understand what BTC is
;short-term volatility in BTC is irrelevant
;Microstrategy is not going to sell BTC
I couldn't agree more with that. Many people really do not understand the essence of this asset, otherwise they would not expect Bitcoin at 8K in the current geopolitical situation. Bitcoin at $28K is no different from Bitcoin at $50K or 7K. Therefore, it doesn’t matter how much Bitcoin costs, it matters how much you have. Microstrategy's plans not to sell are a consequence of Sailor getting it all right.
Thoughts on the Crypto Market 07.06.2022.
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of 46.3% and 17.5%, fear index 15.
American indices showed significant growth at the beginning of the session, which soon gave way to a decline. The Nasdaq gained 0.41%, the Dow Jones added 0.05% and the S&P 500 rose 0.31% to close at 4121. Dollar index is growing and is already above 102.6
For the markets, the Fed's rhetoric remains the main factor. Growth at the beginning of the session on the positive from China was leveled by the statements of the Fed representatives about the need to raise the rate above 2.5%. Although this is of no practical importance - for a real impact on inflation, the rate must be raised above 8%, but this is impossible due to the heavy debt burden. There is fear and uncertainty in the market amid talk of an impending hurricane (as Dimon, Elon Musk and many others have been talking about lately). Markets are waiting for the US inflation data, which is to be released on Friday, and could have a strong impact on the markets. Next week too a meeting of the Fed, that's where the indices with the direction will be finally determined. By the way, the topic of monkeypox is gradually developing - there has been information that the United States is again buying vaccines for it, WHO declares an increase in the number of cases.
Bitcoin after the test of $31,800 rolled back $29,300- $29,400.
What was it all about?
There is nothing unusual in the situation. Bitcoin failed to pass the resistance area at 31800-32200, after which it returned to the old, well-known range. This happened quickly and abruptly against the background of FUD around Binance, which is clearly being deliberately dispersed. First, there was an article from Reuters about money laundering. Then Korean hackers who hacked into the Slovak exchange and withdrew money through Binance, sending them to finance the nuclear program - this in itself is strong. There was also Hydra A certain “Alexandra from Moscow '' tells how easily and quickly she brought meth through Binance, and then switched to cannabis. All “An Inconvenient Truth” read the blog shared yesterday.
Almost simultaneously, news came out that the SEC was investigating the BNB token. The subject of the investigation is whether this token was a security when it was sold in 2017? This is already news from Bloomberg. Obviously, we are talking about a targeted attack on the largest crypto exchange. The likely goal is to persuade people to take certain actions. It is clear that there is nothing good in this, regulation in crypto is evil, but, unfortunately, evil is inevitable.
With Bitcoin returning to the middle of the 28K-32K range, in which it has been for almost a month, if it stays above $29,500, it will again tag the upper border. A fixation below $29,300 will lead to a test of the lower boundary of the range and an exit to $25,600.
In summary, major key dates to watch, 7th June(today), 10th, 14th and 21st June. Major Support levels $28K, a good trading area if price holds. Below $28K on a weekly time frame, will see $22/$19K as the next support. Our personal opinion and a biased view, is bearish as long as price did not reclaim $45/47K weekly. There are levels below $20K, but perhaps the herd is not ready to adjust to that, we shall update when that time comes.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
A few hours ago, Bitcoin fell sharply to $29,350- $29,400. At the time of writing the review, it's trading for $29,372 with a total crypto market capitalization of $1.207 Trillion, BTC and ETH dominance index of 46.3% and 17.5%, fear index 15.
American indices showed significant growth at the beginning of the session, which soon gave way to a decline. The Nasdaq gained 0.41%, the Dow Jones added 0.05% and the S&P 500 rose 0.31% to close at 4121. Dollar index is growing and is already above 102.6
For the markets, the Fed's rhetoric remains the main factor. Growth at the beginning of the session on the positive from China was leveled by the statements of the Fed representatives about the need to raise the rate above 2.5%. Although this is of no practical importance - for a real impact on inflation, the rate must be raised above 8%, but this is impossible due to the heavy debt burden. There is fear and uncertainty in the market amid talk of an impending hurricane (as Dimon, Elon Musk and many others have been talking about lately). Markets are waiting for the US inflation data, which is to be released on Friday, and could have a strong impact on the markets. Next week too a meeting of the Fed, that's where the indices with the direction will be finally determined. By the way, the topic of monkeypox is gradually developing - there has been information that the United States is again buying vaccines for it, WHO declares an increase in the number of cases.
Bitcoin after the test of $31,800 rolled back $29,300- $29,400.
What was it all about?
There is nothing unusual in the situation. Bitcoin failed to pass the resistance area at 31800-32200, after which it returned to the old, well-known range. This happened quickly and abruptly against the background of FUD around Binance, which is clearly being deliberately dispersed. First, there was an article from Reuters about money laundering. Then Korean hackers who hacked into the Slovak exchange and withdrew money through Binance, sending them to finance the nuclear program - this in itself is strong. There was also Hydra A certain “Alexandra from Moscow '' tells how easily and quickly she brought meth through Binance, and then switched to cannabis. All “An Inconvenient Truth” read the blog shared yesterday.
Almost simultaneously, news came out that the SEC was investigating the BNB token. The subject of the investigation is whether this token was a security when it was sold in 2017? This is already news from Bloomberg. Obviously, we are talking about a targeted attack on the largest crypto exchange. The likely goal is to persuade people to take certain actions. It is clear that there is nothing good in this, regulation in crypto is evil, but, unfortunately, evil is inevitable.
With Bitcoin returning to the middle of the 28K-32K range, in which it has been for almost a month, if it stays above $29,500, it will again tag the upper border. A fixation below $29,300 will lead to a test of the lower boundary of the range and an exit to $25,600.
In summary, major key dates to watch, 7th June(today), 10th, 14th and 21st June. Major Support levels $28K, a good trading area if price holds. Below $28K on a weekly time frame, will see $22/$19K as the next support. Our personal opinion and a biased view, is bearish as long as price did not reclaim $45/47K weekly. There are levels below $20K, but perhaps the herd is not ready to adjust to that, we shall update when that time comes.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Thoughts on the market as of 08.06.2022
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of 46.6% and 17.5%, fear index 17.
US markets were up yesterday, Nasdaq added 0.94% , Dow Jones rose 0.8% , S&P 500 rose 0.95% to close at 4150. Oil remains above 120, dollar index 102.55. US Treasury Secretary Helen said yesterday that inflation in the US is unacceptable, but it must be fought in a way that does not weaken the economy. This is good rhetoric. The volatility index fell to a monthly low, which indicates a decrease in the level of fear in the stock market.
Elon Musk seems to have stopped looking for money to buy Twitter due to the fact that he did not receive evidence of the real number of fake accounts on the network. Either he lowers the price, or he delays the purchase.
Bitcoin clearly worked out the priority option of yesterday's review. It held above $29,500, after which it turned to growth, reaching above $31,580. After that, a drain to $30,300. It has seen a second return above $31K and a decline over the past few hours. The FUD around Binance continues. Cointelegraph escalates the situation by promising a drop in BNB in a publishing titled: “BNB price risks 40% drop as SEC launches probe against Binance” it further states that: Downside risks for BNB also come from a recent Reuter exposé that claims Binance laundered "at least $2.35 billion in illicit funds."
But in fact, both BNB and the market as a whole are resistant to such a significant FUD. Binance feels confident - Binance US, despite the investigation, is launching staking, intending to give rates higher than American exchanges. You have a trading opportunity back to $325
The priority option for today is Bitcoin in a range with a lower border at $29,300- $29,500 and an upper border at $31,500- $31,800. An alternative option is fixing below $29,300. The Bitcoin Dominance Index continues to rise.
Interesting: PayPal made it possible to transfer purchased crypto assets to external wallets. The feature is available for select US users in the first instance. Back in October 2020 we had concerns as to why they would not allow users to do so. (https://t.me/decryptedge/35) seems it's being fixed.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of 46.6% and 17.5%, fear index 17.
US markets were up yesterday, Nasdaq added 0.94% , Dow Jones rose 0.8% , S&P 500 rose 0.95% to close at 4150. Oil remains above 120, dollar index 102.55. US Treasury Secretary Helen said yesterday that inflation in the US is unacceptable, but it must be fought in a way that does not weaken the economy. This is good rhetoric. The volatility index fell to a monthly low, which indicates a decrease in the level of fear in the stock market.
Elon Musk seems to have stopped looking for money to buy Twitter due to the fact that he did not receive evidence of the real number of fake accounts on the network. Either he lowers the price, or he delays the purchase.
Bitcoin clearly worked out the priority option of yesterday's review. It held above $29,500, after which it turned to growth, reaching above $31,580. After that, a drain to $30,300. It has seen a second return above $31K and a decline over the past few hours. The FUD around Binance continues. Cointelegraph escalates the situation by promising a drop in BNB in a publishing titled: “BNB price risks 40% drop as SEC launches probe against Binance” it further states that: Downside risks for BNB also come from a recent Reuter exposé that claims Binance laundered "at least $2.35 billion in illicit funds."
But in fact, both BNB and the market as a whole are resistant to such a significant FUD. Binance feels confident - Binance US, despite the investigation, is launching staking, intending to give rates higher than American exchanges. You have a trading opportunity back to $325
The priority option for today is Bitcoin in a range with a lower border at $29,300- $29,500 and an upper border at $31,500- $31,800. An alternative option is fixing below $29,300. The Bitcoin Dominance Index continues to rise.
Interesting: PayPal made it possible to transfer purchased crypto assets to external wallets. The feature is available for select US users in the first instance. Back in October 2020 we had concerns as to why they would not allow users to do so. (https://t.me/decryptedge/35) seems it's being fixed.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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KryptoEdge
#decryptedge Thoughts on the market on 22.10.2020: #PayPal Embraces #Crypto, Igniting Market as Mainstream Adoption Inches Closer. ⚠️
#Bitcoin exceeded expectations from yesterday's review, not only consolidated above 12K, but also updated annual highs above…
#Bitcoin exceeded expectations from yesterday's review, not only consolidated above 12K, but also updated annual highs above…
Thoughts on the market on 09.06.2022
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%, 17.6%, fear index 11.
US indices were down yesterday, Nasdaq down 0.73% , Dow Jones shed 0.81% , S&P 500 down 1.08% to close at 4115. Oil above 123.8, dollar index 102.63 Interestingly, the Nasdaq fell less than the rest of the indices, although the opposite is usually the case. This is in favor of the attractiveness of technology stocks for purchases in the medium term. In an attempt to influence inflation, the US is considering lowering duties on Chinese goods. If this idea is implemented, then it will be positive for the market. Twitter announced its readiness to provide Elon Musk with the information he requested (data on social network users and bots). Whether the transaction will take place depends on the conclusions that Musk will make from this information. Most likely, he will conclude that the price of the transaction should be lowered.
The subject of monkeypox is gradually being rocked. WHO has stated that it can be re-infected and that there are already more than 1,000 cases worldwide. Considering the peculiarities of infection with this disease, I think that it is possible to get infected for the third time. Markets are waiting for data on inflation in the US, as well as the Fed meeting next week. These data will set the direction of the market for the next couple of weeks.
Bitcoin worked out the priority option from yesterday's review. (https://t.me/decryptedge/1134) At the same time, it did not decrease below $29820, and for the last 9 hours Bitcoin has been holding above $30K. It is oscillating within the large range of 28K-32K, where Bitcoin has been for almost a month after the drain in early May, a small range has formed with a lower border of $29,800 and an upper at $31,500. I think that soon, within 2 days or so Bitcoin will leave this small range. The priority option for today is Bitcoin in the range with the lower border at $29,800- $29,500 and the upper border at $31,500- $31,800. Alternative - fixing below $29,500.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
Bitcoin during the day moved in the range of $29,830- $30,868. At the time of writing the review, it's trading for $30,120. Total crypto market capitalization of $1.235 Trillion, BTC and ETH dominance index of 46.5%, 17.6%, fear index 11.
US indices were down yesterday, Nasdaq down 0.73% , Dow Jones shed 0.81% , S&P 500 down 1.08% to close at 4115. Oil above 123.8, dollar index 102.63 Interestingly, the Nasdaq fell less than the rest of the indices, although the opposite is usually the case. This is in favor of the attractiveness of technology stocks for purchases in the medium term. In an attempt to influence inflation, the US is considering lowering duties on Chinese goods. If this idea is implemented, then it will be positive for the market. Twitter announced its readiness to provide Elon Musk with the information he requested (data on social network users and bots). Whether the transaction will take place depends on the conclusions that Musk will make from this information. Most likely, he will conclude that the price of the transaction should be lowered.
The subject of monkeypox is gradually being rocked. WHO has stated that it can be re-infected and that there are already more than 1,000 cases worldwide. Considering the peculiarities of infection with this disease, I think that it is possible to get infected for the third time. Markets are waiting for data on inflation in the US, as well as the Fed meeting next week. These data will set the direction of the market for the next couple of weeks.
Bitcoin worked out the priority option from yesterday's review. (https://t.me/decryptedge/1134) At the same time, it did not decrease below $29820, and for the last 9 hours Bitcoin has been holding above $30K. It is oscillating within the large range of 28K-32K, where Bitcoin has been for almost a month after the drain in early May, a small range has formed with a lower border of $29,800 and an upper at $31,500. I think that soon, within 2 days or so Bitcoin will leave this small range. The priority option for today is Bitcoin in the range with the lower border at $29,800- $29,500 and the upper border at $31,500- $31,800. Alternative - fixing below $29,500.
This is not investment advice, and ought not to be considered as a financial recommendation. Must always do your own research. #decryptedge #bitcoin #markets #dollar #oil #research
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KryptoEdge
Thoughts on the market as of 08.06.2022
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of…
Bitcoin held above$ 29,500 and moved to growth, returning above $30K and as at the time of writing the Review is worth $30,496. Total Crypto market capitalization of $1.267 Trillion, BTC and ETH dominance index of…