Some interesting news:
- Banks in Louisiana, a US state, can now provide crypto storage services to customers.
I don’t know what kind of sheep you have to be to buy a crypto and take it to the bank for safekeeping!. But I once read that one of the main reasons why people are afraid to buy crypto is a lack of understanding of how to store it. So it is useful and works for attracting a new audience.
- Perhaps soon there will be a FUD about the imminent seizure of control over Bitcoin through providers.
- The Chinese are also dispersing FUD - promises to drop Bitcoin to zero. In a publishing by the media outlet Economic Daily, run by the Central Committee of the ruling Chinese Communist Party, in an article yesterday, June 22, warning investors about the risk of Bitcoin prices “heading to zero,” after the carnage of the crypto market, South China Morning Post reported.
According to the article: “Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. (…) In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.” However it’s not 2017 now and the value of the Chinese crypto market has plummeted. Therefore, there will be no special effect.
Lastly - the Bank of England says that the projects that survive in the crypto market during the current difficult period will become dominant players.
As always, 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
- Banks in Louisiana, a US state, can now provide crypto storage services to customers.
I don’t know what kind of sheep you have to be to buy a crypto and take it to the bank for safekeeping!. But I once read that one of the main reasons why people are afraid to buy crypto is a lack of understanding of how to store it. So it is useful and works for attracting a new audience.
- Perhaps soon there will be a FUD about the imminent seizure of control over Bitcoin through providers.
- The Chinese are also dispersing FUD - promises to drop Bitcoin to zero. In a publishing by the media outlet Economic Daily, run by the Central Committee of the ruling Chinese Communist Party, in an article yesterday, June 22, warning investors about the risk of Bitcoin prices “heading to zero,” after the carnage of the crypto market, South China Morning Post reported.
According to the article: “Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. (…) In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.” However it’s not 2017 now and the value of the Chinese crypto market has plummeted. Therefore, there will be no special effect.
Lastly - the Bank of England says that the projects that survive in the crypto market during the current difficult period will become dominant players.
As always, 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 on 24.06. 2022.
Bitcoin maintains the $20,170- $21,230 range, at the time of writing the review Bitcoin is worth $21,220. With a total crypto market capitalization of $950 billion, BTC, ETH dominance index of 42.6% and 15.4%, fear index 11.
Stock markets closed higher yesterday. The Nasdaq rose 1.62%, the Dow Jones gained 0.64%, the S&P 500 added 0.95% and closed at 3795. The dollar index is slightly above 104, while oil continues to decline, Brent is already below 110. Oil is declining on expectations of a recession, and not only in the US market. The ECB also promises a recession for “some EU countries”. In favor of a recession and lower prices for copper and aluminum, which, as a leading indicator, can be used to judge the future growth or decline in the global economy.
Powell also spoke about the risk of a recession. True, he called this risk "not particularly strong." But he also called inflation “temporary”. Nevertheless, by the end of the American session yesterday, the markets turned to growth; now futures on the S&P 500 are already above 3800.
Bitcoin is now at the upper limit of the range that we shared yesterday, there is every chance to go higher. In favor of this development is the extreme fear index for a long time, fans of shorting Bitcoin, which will serve as fuel for the upward movement, and a favorable external background (rising stock markets). If fixing above $21,200 is successful, the next target will be to take $21,700.
With this development of events over the weekend, market capitalization may again approach the psychological level of 1 trillion. or even go higher, while there will be an increase in the entire TOP of altcoins. If an attempt to consolidate above $21,200 is unsuccessful and Bitcoin remains in the same range (the lower limit is at $19,500- $19,200 and the upper limit is at $20,800- $21.200), the growth of altcoins will be selective. Bitcoin short lovers in this case will become fuel for the market growth a little later.
Lastly, CZ stated that it would take Bitcoin several months to two years to reach ATH. “I think given this price drop, from the all-time high of 69K to 20K now, it will probably take a while to get back. It probably will take a few months or a couple of years. No one can predict the future.”
As always, 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 $20,170- $21,230 range, at the time of writing the review Bitcoin is worth $21,220. With a total crypto market capitalization of $950 billion, BTC, ETH dominance index of 42.6% and 15.4%, fear index 11.
Stock markets closed higher yesterday. The Nasdaq rose 1.62%, the Dow Jones gained 0.64%, the S&P 500 added 0.95% and closed at 3795. The dollar index is slightly above 104, while oil continues to decline, Brent is already below 110. Oil is declining on expectations of a recession, and not only in the US market. The ECB also promises a recession for “some EU countries”. In favor of a recession and lower prices for copper and aluminum, which, as a leading indicator, can be used to judge the future growth or decline in the global economy.
Powell also spoke about the risk of a recession. True, he called this risk "not particularly strong." But he also called inflation “temporary”. Nevertheless, by the end of the American session yesterday, the markets turned to growth; now futures on the S&P 500 are already above 3800.
Bitcoin is now at the upper limit of the range that we shared yesterday, there is every chance to go higher. In favor of this development is the extreme fear index for a long time, fans of shorting Bitcoin, which will serve as fuel for the upward movement, and a favorable external background (rising stock markets). If fixing above $21,200 is successful, the next target will be to take $21,700.
With this development of events over the weekend, market capitalization may again approach the psychological level of 1 trillion. or even go higher, while there will be an increase in the entire TOP of altcoins. If an attempt to consolidate above $21,200 is unsuccessful and Bitcoin remains in the same range (the lower limit is at $19,500- $19,200 and the upper limit is at $20,800- $21.200), the growth of altcoins will be selective. Bitcoin short lovers in this case will become fuel for the market growth a little later.
Lastly, CZ stated that it would take Bitcoin several months to two years to reach ATH. “I think given this price drop, from the all-time high of 69K to 20K now, it will probably take a while to get back. It probably will take a few months or a couple of years. No one can predict the future.”
As always, 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 on 27.06. 2022.
Bitcoin moved with the $20,900- $21,900 range over the weekend, and at the time of writing the review, Bitcoin is worth $21,083. Total crypto market capitalisation of $962 billion, BTC, ETH dominance index of 42.5% and 15.5%, fear index 12.
Stock markets opened slightly lower. Futures on the S&P 500 are slightly in the red, the dollar index is showing just as little growth.
The G7 summit took place over the weekend. The main theme is what else can be done against Russia. They are going to impose a ban on gold imports and come up with a scheme with a marginal oil price. Moreover, both oil and gold are not yet particularly responsive to these initiatives. Before that, the BRICS summit was held, where there were also a lot of interesting things. The main idea is that a world dominated by the G7 has bothered many, who have long had the desire and determination to change the situation. The general situation in the world allows us to move from words to deeds.
This week, data on the US real estate market (today), GDP (Wednesday) and labor market (Thursday) will be released. On Wednesday there will be another speech by Powell.
Markets ended last week with a convincing rise. Let's see if they keep the pace this week, or if the S&P 500 goes back below 3800.
Bitcoin tried several times over the weekend to take $21,500. The last attempt was yesterday and ended at almost $21,900. It's now below $21,200.
If Bitcoin cannot gain a foothold above $21,500 on all the external positives and growth, does it mean that it is going to the bottom again? Maybe shorts should be opened?
You can also look at the picture from the other side. We have not gone below $20,800 for three days, we can talk about the formation of support at this level.
That said, there is a lot of negativity on the crypto market - the liquidation of funds, the sale of collateral. Negativity has already gone about NEXO, Harmony was hacked for $100 million. And if, against such a background, Bitcoin has confidently returned above $20K and is trying to grow, this speaks in favor of good prospects even in the short term.
As always, 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 moved with the $20,900- $21,900 range over the weekend, and at the time of writing the review, Bitcoin is worth $21,083. Total crypto market capitalisation of $962 billion, BTC, ETH dominance index of 42.5% and 15.5%, fear index 12.
Stock markets opened slightly lower. Futures on the S&P 500 are slightly in the red, the dollar index is showing just as little growth.
The G7 summit took place over the weekend. The main theme is what else can be done against Russia. They are going to impose a ban on gold imports and come up with a scheme with a marginal oil price. Moreover, both oil and gold are not yet particularly responsive to these initiatives. Before that, the BRICS summit was held, where there were also a lot of interesting things. The main idea is that a world dominated by the G7 has bothered many, who have long had the desire and determination to change the situation. The general situation in the world allows us to move from words to deeds.
This week, data on the US real estate market (today), GDP (Wednesday) and labor market (Thursday) will be released. On Wednesday there will be another speech by Powell.
Markets ended last week with a convincing rise. Let's see if they keep the pace this week, or if the S&P 500 goes back below 3800.
Bitcoin tried several times over the weekend to take $21,500. The last attempt was yesterday and ended at almost $21,900. It's now below $21,200.
If Bitcoin cannot gain a foothold above $21,500 on all the external positives and growth, does it mean that it is going to the bottom again? Maybe shorts should be opened?
You can also look at the picture from the other side. We have not gone below $20,800 for three days, we can talk about the formation of support at this level.
That said, there is a lot of negativity on the crypto market - the liquidation of funds, the sale of collateral. Negativity has already gone about NEXO, Harmony was hacked for $100 million. And if, against such a background, Bitcoin has confidently returned above $20K and is trying to grow, this speaks in favor of good prospects even in the short term.
As always, 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 on 28.06.2022.
Bitcoin was in the range of $21,530- $20,515 during the day, and at the time of writing the review, it's worth $20,580. Total crypto market capitalization of $931 billion, BTC, ETH dominance index of 42.5% and 15.4% fear index 10.
Stock indices were down yesterday. The Nasdaq shed 0.72%, the Dow Jones 0.2%, the S&P 500 lost 0.3% to close at 3900. The dollar index at 103.7.
In the wake of inflation, California residents will receive payments of up to $1,000 as "inflation compensation." Total payments will be $17 billion. Similar events are expected in Colorado. Payments will be made by the end of October (elections in November).
With one hand to raise the rate to fight inflation, and with the other hand to distribute money (and this is not even an increase in wages - this is the distribution of money just like that) - it's like putting out a fire on the one hand, and pouring fuel into it on the other.
US Elections are ahead, and there are no chances for a decent result for democrats, since the results of activities in all areas break through the bottom, then the distribution of money (in fact, the purchase of votes) is the only chance for success. The variant with the distribution of benefits before the elections was a month ago on the stock channel. For the markets, the distribution of money is positive in the short term. If other Democratic states take the initiative (and they will), the S&P 500 may well return above 4,000. After these elections, it is already necessary to think about the presidential elections, that is, to distribute money again. Yes, this is no longer the economy or the market, but some kind of scam.
Yesterday the so-called "default of Russia" was announced. It was announced by Bloomberg, they are always known to disperse various FUDs in the crypto market. Many wonder why the stock market did not react to this in any way? A real default is when there is no money. Russia has them, but the United States, taking advantage of control over the payment infrastructure, did not give the opportunity to make payments in dollars. At the same time, Russia offered to make the payment in rubles. In general, now it is a problem of creditors. And the lack of reaction of the markets to this event says best that this default is purely for the headline in Bloomberg.
That said, let's look at Bitcoin. After an unsuccessful attempt to pass $21,500, price dropped lower to the $20,500- $20,700 support area, where it is now. The external negative continues - in the USA, the mining company Compass Mining was disconnected from electricity. Disconnected for lack of payment.
JPMorgan also announces pressure on Bitcoin from forced sales of miners, we are talking about loans for $4 billion. Some funds are trying to decouple USDT from the dollar.
The story of the bankruptcies of funds and the sale of their crypto assets is also not over yet.
All this will pass, Bitcoin will remain. As Sailor says, 1 BTC will always be 1 BTC. USD price volatility does not change anything in the prospects of Bitcoin. Moreover, these prospects are not long-term. Today, expect Bitcoin in a range with a lower limit at $20,100- $19,800 and an upper limit at $21,500- $21,800.
As always, 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 was in the range of $21,530- $20,515 during the day, and at the time of writing the review, it's worth $20,580. Total crypto market capitalization of $931 billion, BTC, ETH dominance index of 42.5% and 15.4% fear index 10.
Stock indices were down yesterday. The Nasdaq shed 0.72%, the Dow Jones 0.2%, the S&P 500 lost 0.3% to close at 3900. The dollar index at 103.7.
In the wake of inflation, California residents will receive payments of up to $1,000 as "inflation compensation." Total payments will be $17 billion. Similar events are expected in Colorado. Payments will be made by the end of October (elections in November).
With one hand to raise the rate to fight inflation, and with the other hand to distribute money (and this is not even an increase in wages - this is the distribution of money just like that) - it's like putting out a fire on the one hand, and pouring fuel into it on the other.
US Elections are ahead, and there are no chances for a decent result for democrats, since the results of activities in all areas break through the bottom, then the distribution of money (in fact, the purchase of votes) is the only chance for success. The variant with the distribution of benefits before the elections was a month ago on the stock channel. For the markets, the distribution of money is positive in the short term. If other Democratic states take the initiative (and they will), the S&P 500 may well return above 4,000. After these elections, it is already necessary to think about the presidential elections, that is, to distribute money again. Yes, this is no longer the economy or the market, but some kind of scam.
Yesterday the so-called "default of Russia" was announced. It was announced by Bloomberg, they are always known to disperse various FUDs in the crypto market. Many wonder why the stock market did not react to this in any way? A real default is when there is no money. Russia has them, but the United States, taking advantage of control over the payment infrastructure, did not give the opportunity to make payments in dollars. At the same time, Russia offered to make the payment in rubles. In general, now it is a problem of creditors. And the lack of reaction of the markets to this event says best that this default is purely for the headline in Bloomberg.
That said, let's look at Bitcoin. After an unsuccessful attempt to pass $21,500, price dropped lower to the $20,500- $20,700 support area, where it is now. The external negative continues - in the USA, the mining company Compass Mining was disconnected from electricity. Disconnected for lack of payment.
JPMorgan also announces pressure on Bitcoin from forced sales of miners, we are talking about loans for $4 billion. Some funds are trying to decouple USDT from the dollar.
The story of the bankruptcies of funds and the sale of their crypto assets is also not over yet.
All this will pass, Bitcoin will remain. As Sailor says, 1 BTC will always be 1 BTC. USD price volatility does not change anything in the prospects of Bitcoin. Moreover, these prospects are not long-term. Today, expect Bitcoin in a range with a lower limit at $20,100- $19,800 and an upper limit at $21,500- $21,800.
As always, 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
Crypto Market Thoughts on 29.06 2022.
Bitcoin was in the range of $20,155- $21,215 during the day and at the time of writing the review, Bitcoin is worth $20,073. Total crypto market capitalization of $903 billion, BTC and ETH dominance index 42.5%, 15.2% , fear index 13.
Stock indices were down yesterday. The Nasdaq fell by 2.98%, the Dow Jones fell 1.56%, the S&P 500 lost 2.01% to close at 3821. The dollar index rose and is now above 104.2
Yesterday the US Consumer Confidence Index came out. The index fell, in the market expectations of recession and stagflation. The Fed started raising the rate too late (previously, the rate hike always started at 2.5% inflation, and now at 8.5%), so it is strange to expect that this will quickly and tangibly affect inflation. Especially when you consider what is happening in the energy sector. A recession is also indicated by the price of copper (a reliable leading indicator), which continues to decline. Either news about the distribution of money, or a sharp improvement in the geopolitical situation can bring positive to the market. The first option is much more likely than the second; besides, they are already starting to do it.
Probably before the release of inflation data for June and the July Fed meeting, there will be no strong movements in the market, the S&P 500 will walk between $4000 and $3600.
Bitcoin, at first glance, demonstrates weakness - it could not overcome $21,500 with a well-growing stock market at the end of last week, but quickly fell below $20,500 on a falling one. This seems to be a weakness. Looking at the wave of negativity that has hit the crypto market since the beginning of May. First Luna's scam, then Celsius' insolvency, then ZAC's default. All during a crash in the stock market. If, with such external factors, Bitcoin only fell from the range of $28,000- $32,000 to $20K, this is not weakness, but perhaps strength and stability. Everything is classic. Large owners do not sell at a loss, many are buying Bitcoin.
According to Glassnode, Bitcoin reserves on exchanges are at their lowest in 3 years.
Robert Kiyosaki, author of best-selling book on financial literacy "Rich Dad, Poor Dad" and a well-known Bitcoin and real-estate investor, has taken to Twitter to voice his new prediction about the BTC price in the near future and share his buy-the dip plans.
"I'm waiting for Bitcoin to test $1,100" Kiyosaki has again tweeted about "winners and losers," saying that winners learn from their mistakes. Therefore, he does expect the global flagship crypto, Bitcoin, to drop further and is "waiting for Bitcoin to test $1,100." He stated that, should BTC recover after that, he will buy more of it. However, another option for him to buy on the dip is waiting for "paper hands," whom he calls "losers," to capitulate.
As always, 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 was in the range of $20,155- $21,215 during the day and at the time of writing the review, Bitcoin is worth $20,073. Total crypto market capitalization of $903 billion, BTC and ETH dominance index 42.5%, 15.2% , fear index 13.
Stock indices were down yesterday. The Nasdaq fell by 2.98%, the Dow Jones fell 1.56%, the S&P 500 lost 2.01% to close at 3821. The dollar index rose and is now above 104.2
Yesterday the US Consumer Confidence Index came out. The index fell, in the market expectations of recession and stagflation. The Fed started raising the rate too late (previously, the rate hike always started at 2.5% inflation, and now at 8.5%), so it is strange to expect that this will quickly and tangibly affect inflation. Especially when you consider what is happening in the energy sector. A recession is also indicated by the price of copper (a reliable leading indicator), which continues to decline. Either news about the distribution of money, or a sharp improvement in the geopolitical situation can bring positive to the market. The first option is much more likely than the second; besides, they are already starting to do it.
Probably before the release of inflation data for June and the July Fed meeting, there will be no strong movements in the market, the S&P 500 will walk between $4000 and $3600.
Bitcoin, at first glance, demonstrates weakness - it could not overcome $21,500 with a well-growing stock market at the end of last week, but quickly fell below $20,500 on a falling one. This seems to be a weakness. Looking at the wave of negativity that has hit the crypto market since the beginning of May. First Luna's scam, then Celsius' insolvency, then ZAC's default. All during a crash in the stock market. If, with such external factors, Bitcoin only fell from the range of $28,000- $32,000 to $20K, this is not weakness, but perhaps strength and stability. Everything is classic. Large owners do not sell at a loss, many are buying Bitcoin.
According to Glassnode, Bitcoin reserves on exchanges are at their lowest in 3 years.
Robert Kiyosaki, author of best-selling book on financial literacy "Rich Dad, Poor Dad" and a well-known Bitcoin and real-estate investor, has taken to Twitter to voice his new prediction about the BTC price in the near future and share his buy-the dip plans.
"I'm waiting for Bitcoin to test $1,100" Kiyosaki has again tweeted about "winners and losers," saying that winners learn from their mistakes. Therefore, he does expect the global flagship crypto, Bitcoin, to drop further and is "waiting for Bitcoin to test $1,100." He stated that, should BTC recover after that, he will buy more of it. However, another option for him to buy on the dip is waiting for "paper hands," whom he calls "losers," to capitulate.
As always, 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 Crypto market as of 01.07.2022
Bitcoin was in the range of $18,630- $20,909 during the day. At the time of writing the review, Bitcoin is worth $19,554. With a total crypto market capitalization of $875 billion, BTC, ETH dominance index of 43.1% and 14.8%, fear index 11.
Stock indices continued to fall yesterday. The Nasdaq fell 1.33%, the Dow Jones 0.82%, the S&P 500 lost 0.88% to close at 3785. Dollar index peaked above 105, now down to 104.6
Markets tumbled yesterday under pressure from a rising dollar index that reached heights not seen since 2003. It is not so much the dollar that is growing, it is the other currencies that are falling. Because the dollar distributes inflation to the whole world, and regional currencies are limited to a specific location.
The ECB cannot raise the rate even as limited as the Fed, due to the high debt burden of some countries (Italy, Greece). Therefore, the euro / dollar is moving towards parity (1 dollar = 1 euro), and the weight of the euro in the dollar index is 57%. Hence the record highs of the dollar index. 105 is really a lot. Prior to that, over the past 5 years, the dollar index was above 100 only in March 2020, during the drain of markets for coronavirus. The dollar index went above 100 again in early April 2022. The results for the 2nd quarter for the US indices: Dow and S&P 500 - the worst quarter since 2020, the NASDAQ is the worst quarter since 2002.
If we take the results from the beginning of 2022, then the S&P 500 has the worst half-year result (a drop of 20.6%) since 1970, the NASDAQ, which has fallen by 29.5%, is the worst result since 1971, the Dow Jones (a drop of 16%) is the worst half a year since 1962.
So bottom?
The demolition of the old world order and the formation of a new one (this is exactly what is happening in the world now) shocks and unpredictable consequences in all areas. The geopolitical and economic situation in the world is now so unique that all records for falling can be broken. The upside potential is much greater than the downside potential. Especially when you consider the amount of money in the global economy that has nowhere to go. At the same time, the potential for growth in the future does not interfere with falling right now. As evident, a top Indian firm paid for Russian coal in yuan, so more buyers could turn to China's currency. Recently, the People's Bank of China announced earlier this week it is developing a yuan reserve with the Bank for International Settlements and five other nations, including Singapore and Hong Kong. Each of the members will contribute about 15 billion yuan, or $2.2 billion.
Bitcoin, after yesterday's decline below $19K, peaked above $20,900 overnight. Then there was a short consolidation around $20,400 and further decline. Looking at Bitcon from a Macro perspective, this is the first time we have had two consecutive closes below the weekly 200 moving average in the history of cryptocurrency, have a mental note of that. An update on the previous dates we shared: 21st June - BTC hit $21,7XX for the first time since the dump to $17K with a price action followed by -8% after that. 27th June - bulls fail to breakout again, dump from $21,500 to $18,8XX right now. Incoming Dates: 3rd, 7th, and 13th July.
Today, expect it to be in the range with the lower border at $18,800- $18,500 and the upper border at $20,800- $21,200.
The negative sentiments continue.
- The CFTC charged South African pool operator Mirror Trading International Proprietary Limited with a $1.7 billion Bitcoin scam.
- Some hedge funds tried to short USDT, counting on its decoupling from the dollar, by publishing such articles to cause panic and massive withdrawals in fiat.
- According to Glassnode, over 250,000 addresses added at least 0.1 BTC in the last 20 days.
As always, 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 was in the range of $18,630- $20,909 during the day. At the time of writing the review, Bitcoin is worth $19,554. With a total crypto market capitalization of $875 billion, BTC, ETH dominance index of 43.1% and 14.8%, fear index 11.
Stock indices continued to fall yesterday. The Nasdaq fell 1.33%, the Dow Jones 0.82%, the S&P 500 lost 0.88% to close at 3785. Dollar index peaked above 105, now down to 104.6
Markets tumbled yesterday under pressure from a rising dollar index that reached heights not seen since 2003. It is not so much the dollar that is growing, it is the other currencies that are falling. Because the dollar distributes inflation to the whole world, and regional currencies are limited to a specific location.
The ECB cannot raise the rate even as limited as the Fed, due to the high debt burden of some countries (Italy, Greece). Therefore, the euro / dollar is moving towards parity (1 dollar = 1 euro), and the weight of the euro in the dollar index is 57%. Hence the record highs of the dollar index. 105 is really a lot. Prior to that, over the past 5 years, the dollar index was above 100 only in March 2020, during the drain of markets for coronavirus. The dollar index went above 100 again in early April 2022. The results for the 2nd quarter for the US indices: Dow and S&P 500 - the worst quarter since 2020, the NASDAQ is the worst quarter since 2002.
If we take the results from the beginning of 2022, then the S&P 500 has the worst half-year result (a drop of 20.6%) since 1970, the NASDAQ, which has fallen by 29.5%, is the worst result since 1971, the Dow Jones (a drop of 16%) is the worst half a year since 1962.
So bottom?
The demolition of the old world order and the formation of a new one (this is exactly what is happening in the world now) shocks and unpredictable consequences in all areas. The geopolitical and economic situation in the world is now so unique that all records for falling can be broken. The upside potential is much greater than the downside potential. Especially when you consider the amount of money in the global economy that has nowhere to go. At the same time, the potential for growth in the future does not interfere with falling right now. As evident, a top Indian firm paid for Russian coal in yuan, so more buyers could turn to China's currency. Recently, the People's Bank of China announced earlier this week it is developing a yuan reserve with the Bank for International Settlements and five other nations, including Singapore and Hong Kong. Each of the members will contribute about 15 billion yuan, or $2.2 billion.
Bitcoin, after yesterday's decline below $19K, peaked above $20,900 overnight. Then there was a short consolidation around $20,400 and further decline. Looking at Bitcon from a Macro perspective, this is the first time we have had two consecutive closes below the weekly 200 moving average in the history of cryptocurrency, have a mental note of that. An update on the previous dates we shared: 21st June - BTC hit $21,7XX for the first time since the dump to $17K with a price action followed by -8% after that. 27th June - bulls fail to breakout again, dump from $21,500 to $18,8XX right now. Incoming Dates: 3rd, 7th, and 13th July.
Today, expect it to be in the range with the lower border at $18,800- $18,500 and the upper border at $20,800- $21,200.
The negative sentiments continue.
- The CFTC charged South African pool operator Mirror Trading International Proprietary Limited with a $1.7 billion Bitcoin scam.
- Some hedge funds tried to short USDT, counting on its decoupling from the dollar, by publishing such articles to cause panic and massive withdrawals in fiat.
- According to Glassnode, over 250,000 addresses added at least 0.1 BTC in the last 20 days.
As always, 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 03.07.2022.
Bitcoin for the weekend maintains the range of $18916- $19487 and at the time of this Sunday afternoon writing, Bitcoin is worth $19,004. Total Crypto market capitalization 862 billion, BTC , ETH dominance index of 42.1% and 14.8%, fear index 11. Stock indices closed slightly higher on Friday, Nasdaq up 0.9%, Dow Jones up 1.05%, S&P 500 up 1.06% to close at $3825. The dollar index yesterday updated highs of 105.6, but then moved down and closed at 104.88. This coming week we may see a new ATH.
The fact that before the long weekend, market participants did not exit positions, but took positions, is good. Although the point may be that it's just the first day of the month and the funds enter positions. Moreover, growth is within the limits of statistical error.
The decline in the yield of 10-year US bonds, which since June 28, Friday was more intensified - this is a good sign for the stock market. If the trend continues, then after the weekend the markets may continue to grow.
Gold movement is somewhat contrary to the market expectations. . Record inflation, money is depreciating, and gold is falling. Macroeconomics aside, gold tends to fall when 10-year bond yields rise. It has been growing since December 2021, reaching a peak on June 14-16. Now it's falling. Plus, there was also news about a large gold deposit in Uganda, which also puts pressure on the price. But in the event of a recession, the prospects for gold are good. In the case of the return of the Fed to the generation of dollars - too, there is no third option. If it is true about the deposit in Uganda, Uganda should be accepted into the BRICS and a military base should be set up there. Otherwise, there will now begin human rights violations to eliminate and bring democratic values to the people of Uganda. Like in Libya in 2011. Kenya being close by will feel the effect.
Bitcoin does not need a correlation with the stock market to fall, its own negative is enough. Following the bankruptcy and liquidation of 3AC, the crypto-broker Voyager Digital also leaves for the land of shadows. Its leader Stephen Erlich announced the suspension of all operations, deposits and withdrawals. He says that in the current market conditions, the company needs time to "explore strategic alternatives with various stakeholders." In other words, looking for money.
- Information about crypto exchange problems are coming to light, from HUOBI to KuCoin. Kucoin CEO has come out denying rumors that the exchange is insolvent, and traders have been able to withdraw – but is more crypto contagion coming? That’s what some reputable crypto Twitter accounts have been warning of over the past weeks.
- The FTX exchange will not buy Celsius, because there is a hole in the balance of 2 billion. Instead, it will buy BlockFi. The platform was previously valued at $5bn and will now be bought for $240m, plus a credit line.
The market is cleared, everything is classic. The strong and confident devour the weak, the greedy and the cowardly. This applies not only to companies, but also to crypto assets. While some are waiting for Bitcoin at 1100 (as Kiyosaki said), the third largest Bitcoin wallet buys several hundred coins daily. Everyone decides which side to be on.
The Bank of India again spoke about the dangers of cryptocurrencies as they are dangerous and can lead to instability in the financial system. Controversial assertion.
The representatives of the traditional financial system, the FRS, over the past 2 years have generated 9 trillion dollars, and now they are surprised at record inflation and trying to fight it. As a result of the struggle, more than 30% of world GDP has already been destroyed, and the economies of the G7 countries (not only them, but them in the first place) are on the verge of recession. So the main threat to stability is the actions of fiat issuers.
Bitcoin for the weekend maintains the range of $18916- $19487 and at the time of this Sunday afternoon writing, Bitcoin is worth $19,004. Total Crypto market capitalization 862 billion, BTC , ETH dominance index of 42.1% and 14.8%, fear index 11. Stock indices closed slightly higher on Friday, Nasdaq up 0.9%, Dow Jones up 1.05%, S&P 500 up 1.06% to close at $3825. The dollar index yesterday updated highs of 105.6, but then moved down and closed at 104.88. This coming week we may see a new ATH.
The fact that before the long weekend, market participants did not exit positions, but took positions, is good. Although the point may be that it's just the first day of the month and the funds enter positions. Moreover, growth is within the limits of statistical error.
The decline in the yield of 10-year US bonds, which since June 28, Friday was more intensified - this is a good sign for the stock market. If the trend continues, then after the weekend the markets may continue to grow.
Gold movement is somewhat contrary to the market expectations. . Record inflation, money is depreciating, and gold is falling. Macroeconomics aside, gold tends to fall when 10-year bond yields rise. It has been growing since December 2021, reaching a peak on June 14-16. Now it's falling. Plus, there was also news about a large gold deposit in Uganda, which also puts pressure on the price. But in the event of a recession, the prospects for gold are good. In the case of the return of the Fed to the generation of dollars - too, there is no third option. If it is true about the deposit in Uganda, Uganda should be accepted into the BRICS and a military base should be set up there. Otherwise, there will now begin human rights violations to eliminate and bring democratic values to the people of Uganda. Like in Libya in 2011. Kenya being close by will feel the effect.
Bitcoin does not need a correlation with the stock market to fall, its own negative is enough. Following the bankruptcy and liquidation of 3AC, the crypto-broker Voyager Digital also leaves for the land of shadows. Its leader Stephen Erlich announced the suspension of all operations, deposits and withdrawals. He says that in the current market conditions, the company needs time to "explore strategic alternatives with various stakeholders." In other words, looking for money.
- Information about crypto exchange problems are coming to light, from HUOBI to KuCoin. Kucoin CEO has come out denying rumors that the exchange is insolvent, and traders have been able to withdraw – but is more crypto contagion coming? That’s what some reputable crypto Twitter accounts have been warning of over the past weeks.
- The FTX exchange will not buy Celsius, because there is a hole in the balance of 2 billion. Instead, it will buy BlockFi. The platform was previously valued at $5bn and will now be bought for $240m, plus a credit line.
The market is cleared, everything is classic. The strong and confident devour the weak, the greedy and the cowardly. This applies not only to companies, but also to crypto assets. While some are waiting for Bitcoin at 1100 (as Kiyosaki said), the third largest Bitcoin wallet buys several hundred coins daily. Everyone decides which side to be on.
The Bank of India again spoke about the dangers of cryptocurrencies as they are dangerous and can lead to instability in the financial system. Controversial assertion.
The representatives of the traditional financial system, the FRS, over the past 2 years have generated 9 trillion dollars, and now they are surprised at record inflation and trying to fight it. As a result of the struggle, more than 30% of world GDP has already been destroyed, and the economies of the G7 countries (not only them, but them in the first place) are on the verge of recession. So the main threat to stability is the actions of fiat issuers.
With the long weekend and thin market ahead. Strong movements in the market are possible.
Expect Bitcoin in a range with a lower limit at $18,200- $17,286 and an upper limit at $20,800- $21,800. Alts will grow with a confident fixing of Bitcoin above $20K. A hike to the lower end of the range is not a prerequisite, but a possible option. If we go above 20K from the current levels, the option is postponed.
As always, 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
Expect Bitcoin in a range with a lower limit at $18,200- $17,286 and an upper limit at $20,800- $21,800. Alts will grow with a confident fixing of Bitcoin above $20K. A hike to the lower end of the range is not a prerequisite, but a possible option. If we go above 20K from the current levels, the option is postponed.
As always, 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
Crypto Market Thoughts on 12.07.2022
Bitcoin, yesterday still maintained the range of $19,800- $20,750 and at the time of writing, Bitcoin is worth $19,881. Total crypto market capitalization of $888 billion, BTC, ETH dominance index of 42.8% and 14.9%, fear index 16. Glad to be back, my body gave me, rather forced me for a 1 week break. But you haven't missed much.
Stock markets were down yesterday. The Nasdaq fell 2.26%, the Dow Jones fell 0.52% and the S&P 500 lost 1.15% to close at 3854. The dollar index has once again made new highs and is now above 108.
Shares of Twitter fell more than 11% yesterday, working off the news about the cancellation of the deal with Elon Musk. The fact that the consequences of the cancellation of the deal will affect the entire technology sector, Meta is in the red by almost 5%, Zoom by almost 10%. Investors have realized that the data on the number and behavior of users provided by the companies themselves do not always correspond to reality. Why did Musk pull out of the deal? Why is the dollar index growing, and the euro will soon be cheaper than the dollar? Let me know if you are interested to know.
The Markets are waiting for a fall on US inflation data on Wednesday. In fact, the forecast data of 8.8% suggests that the actual result will be better than the forecast. With the crowd piling up a record number of short leveraged ETFs, developments could be very interesting.
Bitcoin has been declining during the day and has now reached just the lower limit of the 20200-19800 and an upper border at 21500-21800 range. Today Bitcoin is likely to move in the lower border of $19,000- $19,300 and an upper one at $20,600- $20,800. But the real movements will be tomorrow.
To some news:
- Miners in Texas stopped working due to heat and peak load on the power grid.
- Recently, there has been a lot of talk about the regulation of cryptocurrencies. The EU is preparing a whole package on regulation, the need for regulation is stated by the representative of the Bank of England and the Vice-Chairman of the Fed. They want to make crypto an analogue of the banking system. We don't need this kind of hockey, really? My contrarian self nonetheless reminds me: The Golden Rule: He Who Holds the Gold Makes the Rules. In the coming years the regulators will not be up to it. Adopt laws - maybe they will, they will not reach the implementation, and the market will live its own life.
As always, 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, yesterday still maintained the range of $19,800- $20,750 and at the time of writing, Bitcoin is worth $19,881. Total crypto market capitalization of $888 billion, BTC, ETH dominance index of 42.8% and 14.9%, fear index 16. Glad to be back, my body gave me, rather forced me for a 1 week break. But you haven't missed much.
Stock markets were down yesterday. The Nasdaq fell 2.26%, the Dow Jones fell 0.52% and the S&P 500 lost 1.15% to close at 3854. The dollar index has once again made new highs and is now above 108.
Shares of Twitter fell more than 11% yesterday, working off the news about the cancellation of the deal with Elon Musk. The fact that the consequences of the cancellation of the deal will affect the entire technology sector, Meta is in the red by almost 5%, Zoom by almost 10%. Investors have realized that the data on the number and behavior of users provided by the companies themselves do not always correspond to reality. Why did Musk pull out of the deal? Why is the dollar index growing, and the euro will soon be cheaper than the dollar? Let me know if you are interested to know.
The Markets are waiting for a fall on US inflation data on Wednesday. In fact, the forecast data of 8.8% suggests that the actual result will be better than the forecast. With the crowd piling up a record number of short leveraged ETFs, developments could be very interesting.
Bitcoin has been declining during the day and has now reached just the lower limit of the 20200-19800 and an upper border at 21500-21800 range. Today Bitcoin is likely to move in the lower border of $19,000- $19,300 and an upper one at $20,600- $20,800. But the real movements will be tomorrow.
To some news:
- Miners in Texas stopped working due to heat and peak load on the power grid.
- Recently, there has been a lot of talk about the regulation of cryptocurrencies. The EU is preparing a whole package on regulation, the need for regulation is stated by the representative of the Bank of England and the Vice-Chairman of the Fed. They want to make crypto an analogue of the banking system. We don't need this kind of hockey, really? My contrarian self nonetheless reminds me: The Golden Rule: He Who Holds the Gold Makes the Rules. In the coming years the regulators will not be up to it. Adopt laws - maybe they will, they will not reach the implementation, and the market will live its own life.
As always, 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
Crypto Market Thoughts on 13.07.2022.
Inflation data came out - 9.1% per year, which is higher than our figure shared yesterday! The markets immediate reaction was a decline on the indices, the S&P 500 is already below 3800, the dollar index is above 108. Recession and stagflation are no longer a threat, but an imminent reality.
However, the fall does not correspond to the scale of the event. The S&P 500 has lost less than 1%, and the dollar index has not updated its highs.
Perhaps the main reaction will be tomorrow (a month ago, too, everything fell down not on the day the data was released, but later). Or maybe it's a bearish consensus. In this case, the S&P 500 should return above 3800 and then move above 4000. The scenario will become clear by the end of the week. Interestingly, raising the rate by 0.75% will now be positive for the market, as there are already assumptions about raising the rate by 1% at once. The Bank of Canada unexpectedly raised interest rates by 100 bps to 2.5%, the highest rate hike since 1998 and still necessary to continue raising interest rates, reflecting an unusual economic environment created by inflation nearing 8%.
Bitcoin held above 19K, although it briefly fell lower. Market capitalization has fallen to $860 billion, but so far the crypto is holding up pretty well. Maybe because with the official inflation of 9.1% (and in reality it has long been double-digit), “going into cash” and waiting for Bitcoin from Kiyosaki at $1000 is not the smartest thing to do? I am waiting for Bitcoin until tomorrow morning in a range with a lower limit at $18,500- $18,800 and an upper limit at $19,800- $20,200.
Perhaps soon too there will be a FUD on a document on total control over crypto, which supposedly should be adopted at the G20. It looks tough - it is supposed to generally prohibit the anonymous storage of crypto. Acceptance and execution is unlikely, tomorrow we will analyze this topic more closely.
As always, 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
Inflation data came out - 9.1% per year, which is higher than our figure shared yesterday! The markets immediate reaction was a decline on the indices, the S&P 500 is already below 3800, the dollar index is above 108. Recession and stagflation are no longer a threat, but an imminent reality.
However, the fall does not correspond to the scale of the event. The S&P 500 has lost less than 1%, and the dollar index has not updated its highs.
Perhaps the main reaction will be tomorrow (a month ago, too, everything fell down not on the day the data was released, but later). Or maybe it's a bearish consensus. In this case, the S&P 500 should return above 3800 and then move above 4000. The scenario will become clear by the end of the week. Interestingly, raising the rate by 0.75% will now be positive for the market, as there are already assumptions about raising the rate by 1% at once. The Bank of Canada unexpectedly raised interest rates by 100 bps to 2.5%, the highest rate hike since 1998 and still necessary to continue raising interest rates, reflecting an unusual economic environment created by inflation nearing 8%.
Bitcoin held above 19K, although it briefly fell lower. Market capitalization has fallen to $860 billion, but so far the crypto is holding up pretty well. Maybe because with the official inflation of 9.1% (and in reality it has long been double-digit), “going into cash” and waiting for Bitcoin from Kiyosaki at $1000 is not the smartest thing to do? I am waiting for Bitcoin until tomorrow morning in a range with a lower limit at $18,500- $18,800 and an upper limit at $19,800- $20,200.
Perhaps soon too there will be a FUD on a document on total control over crypto, which supposedly should be adopted at the G20. It looks tough - it is supposed to generally prohibit the anonymous storage of crypto. Acceptance and execution is unlikely, tomorrow we will analyze this topic more closely.
As always, 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 on 14.07. 2022.
Bitcoin was in the range of $18,903- $20,427 during the day and at the time of the review writing, Bitcoin is worth $20,250. Total crypto Market capitalization of $901 billion, BTC, ETH dominance index of 42.8% and 15.0% fear index 18.
Stock markets closed lower yesterday. The Nasdaq fell 0.15%, the Dow Jones fell 0.67%, the S&P 500 lost 0.15% to close at 3801. The dollar index is now close to the highs, at 108.252
On yesterday's data about the next record for inflation, the markets were falling, but the scale of the decline did not match the scale of the news. Those who expected a fall similar to that of June were disappointed, but that does not mean it's over.
Why? Given the fall in commodity prices, oil and gasoline, it is possible that the peak of inflation has already passed. There was a bearish consensus in the market, judging by the record number of leveraged short ETFs. The 10-year yield returned below 3 yesterday. If it continues to fall today, it will be positive for the markets. Since the situation in Europe is much worse now, and the prospects are even more gloomy, the flow of funds to the American markets is increasing. The euro for the first time since 2002 fell below parity against the dollar.
In such a situation, I do not see the prospects for a strong fall in the stock market. There will be a probable movement in the 3600-4000 range on the SP 500 in the next few months. Unless, of course, there is a strong aggravation in geopolitics. Company reports start next week:
July 20th Tesla.
July 26th Google Microsoft.
July 27th meta.
July 28th Apple.
August 4th Amazon.
In the reports, market participants will look for answers about the strength and depth of the recession that has begun and the prospects for getting out of it.
Bitcoin not only held above $19K, but also performed better than yesterday's review. We managed to gain a foothold above $20,200 and stay there for more than 6 hours. This is a natural reaction to the emergence of a large number of people who want to short Bitcoin, to the record outflow of Bitcoin from the exchanges and to the influx of stables to the exchanges.
For today - Bitcoin in the range with the lower limit at $19,400- $19,500 and the upper limit at $20,800- $21,200. But the first task will be to fix above $20,400- $20,500.
In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500.
In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could be buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500.
Lastly, Tencent, China's largest internet company, has shut down one of its digital collection (NFT) platforms, and another platform is not doing well. The reason is that the Chinese government does not allow users to conduct private transactions after purchasing
As always, 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 was in the range of $18,903- $20,427 during the day and at the time of the review writing, Bitcoin is worth $20,250. Total crypto Market capitalization of $901 billion, BTC, ETH dominance index of 42.8% and 15.0% fear index 18.
Stock markets closed lower yesterday. The Nasdaq fell 0.15%, the Dow Jones fell 0.67%, the S&P 500 lost 0.15% to close at 3801. The dollar index is now close to the highs, at 108.252
On yesterday's data about the next record for inflation, the markets were falling, but the scale of the decline did not match the scale of the news. Those who expected a fall similar to that of June were disappointed, but that does not mean it's over.
Why? Given the fall in commodity prices, oil and gasoline, it is possible that the peak of inflation has already passed. There was a bearish consensus in the market, judging by the record number of leveraged short ETFs. The 10-year yield returned below 3 yesterday. If it continues to fall today, it will be positive for the markets. Since the situation in Europe is much worse now, and the prospects are even more gloomy, the flow of funds to the American markets is increasing. The euro for the first time since 2002 fell below parity against the dollar.
In such a situation, I do not see the prospects for a strong fall in the stock market. There will be a probable movement in the 3600-4000 range on the SP 500 in the next few months. Unless, of course, there is a strong aggravation in geopolitics. Company reports start next week:
July 20th Tesla.
July 26th Google Microsoft.
July 27th meta.
July 28th Apple.
August 4th Amazon.
In the reports, market participants will look for answers about the strength and depth of the recession that has begun and the prospects for getting out of it.
Bitcoin not only held above $19K, but also performed better than yesterday's review. We managed to gain a foothold above $20,200 and stay there for more than 6 hours. This is a natural reaction to the emergence of a large number of people who want to short Bitcoin, to the record outflow of Bitcoin from the exchanges and to the influx of stables to the exchanges.
For today - Bitcoin in the range with the lower limit at $19,400- $19,500 and the upper limit at $20,800- $21,200. But the first task will be to fix above $20,400- $20,500.
In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500.
In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could be buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500.
Lastly, Tencent, China's largest internet company, has shut down one of its digital collection (NFT) platforms, and another platform is not doing well. The reason is that the Chinese government does not allow users to conduct private transactions after purchasing
As always, 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 on 15.07. 2022
Bitcoin was in the range of $19,630- $20,895 during the day and at the time of writing the review, Bitcoin is worth $20,676. Total crypto market capitalization of $931 billion, BTC, ETH dominance index 42.5% and 15.8% fear index 15.
Stock markets closed in a mixed up manner yesterday. The Nasdaq was up 0.03%, the Dow Jones was down 0.46% and the S&P 500 was down 0.30% to close at 3790.
The dollar index yesterday updated a high above 109.1. Data on industrial inflation was released yesterday, as well as on consumer inflation the day before, which came out above our expectations. The dollar index has since soared to highs, the euro not only reached parity with the dollar, but even fell lower, but the markets survived the situation quite normally. During the trading session, the S&P 500 fell to 2%, but then beat off most of the losses. US 10-year bond yields continue to decline, which is good for the markets. On the negative side, it looks like they are again dispersing the topic of coronavirus. Heads up, $1.9 trillion of options are set to expire today. The monthly event includes $925 billion of S&P - linked contracts, $395 billion of derivatives across single stocks scheduled to run out, Goldman sachs Group Inc estimates. Will this be the break or continuation of Bitcoin correlation to the stock market.?
The head of WHO is still calling for the return of the mask regime, but there is not far from lockdowns. The WHO will also hold a meeting on monkeypox on 21 June. It seems that someone really needs a new reason to introduce quarantines and restrictions, and then start “saving the economy” in the usual way. Why the euro fell so much, why right now more and more countries want to join the BRICS, what is happening on the Russian stock market are questions that should be popping in your heads.
Bitcoin worked out yesterday's review: (https://t.me/decryptedge/1158), having reached just the upper limit of the range indicated in it. Two attempts to consolidate above $20,800 have been unsuccessful so far, but as long as Bitcoin holds above $20,400- $20,500, there is a chance to try again. The dominance index is falling, alts are rising. If we leave for the weekend with Bitcoin above $20,500, we will see good gains in altcoins.
Over the weekend, expect Bitcoin in a range with a lower border at $19,800- $19,500 and an upper border at $21,800- $22,000.
As always, 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 was in the range of $19,630- $20,895 during the day and at the time of writing the review, Bitcoin is worth $20,676. Total crypto market capitalization of $931 billion, BTC, ETH dominance index 42.5% and 15.8% fear index 15.
Stock markets closed in a mixed up manner yesterday. The Nasdaq was up 0.03%, the Dow Jones was down 0.46% and the S&P 500 was down 0.30% to close at 3790.
The dollar index yesterday updated a high above 109.1. Data on industrial inflation was released yesterday, as well as on consumer inflation the day before, which came out above our expectations. The dollar index has since soared to highs, the euro not only reached parity with the dollar, but even fell lower, but the markets survived the situation quite normally. During the trading session, the S&P 500 fell to 2%, but then beat off most of the losses. US 10-year bond yields continue to decline, which is good for the markets. On the negative side, it looks like they are again dispersing the topic of coronavirus. Heads up, $1.9 trillion of options are set to expire today. The monthly event includes $925 billion of S&P - linked contracts, $395 billion of derivatives across single stocks scheduled to run out, Goldman sachs Group Inc estimates. Will this be the break or continuation of Bitcoin correlation to the stock market.?
The head of WHO is still calling for the return of the mask regime, but there is not far from lockdowns. The WHO will also hold a meeting on monkeypox on 21 June. It seems that someone really needs a new reason to introduce quarantines and restrictions, and then start “saving the economy” in the usual way. Why the euro fell so much, why right now more and more countries want to join the BRICS, what is happening on the Russian stock market are questions that should be popping in your heads.
Bitcoin worked out yesterday's review: (https://t.me/decryptedge/1158), having reached just the upper limit of the range indicated in it. Two attempts to consolidate above $20,800 have been unsuccessful so far, but as long as Bitcoin holds above $20,400- $20,500, there is a chance to try again. The dominance index is falling, alts are rising. If we leave for the weekend with Bitcoin above $20,500, we will see good gains in altcoins.
Over the weekend, expect Bitcoin in a range with a lower border at $19,800- $19,500 and an upper border at $21,800- $22,000.
As always, 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.
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Thoughts on the market on 14.07. 2022.
Bitcoin was in the range of $18,903- $20,427 during the day and at the time of the review writing, Bitcoin is worth $20,250. Total crypto Market capitalization of $901 billion, BTC, ETH dominance index of 42.8% and…
Bitcoin was in the range of $18,903- $20,427 during the day and at the time of the review writing, Bitcoin is worth $20,250. Total crypto Market capitalization of $901 billion, BTC, ETH dominance index of 42.8% and…
Thoughts on the market on 18.07.2022.
Bitcoin spent the weekend in the $20,500- $21,670 range and at the time of writing this review, Bitcoin is worth $22,227. Market capitalization $1.013 Trillion, BTC, ETH dominance index of 41.9%, and 17.7% fear index 20. Stock markets opened with a moderate positive. Asian indices are growing, the dollar index is slightly decreasing and is now at 107.7, the futures on the SP 500 are also in a slight plus.
This week there will be a lot of important data for the market. Tomorrow there will be data on consumer inflation in the EU, on Wednesday - production inflation in Germany and TESLA report, on Thursday WHO will announce something on monkeypox. How can this affect the crypto market? Data on inflation in the EU affect the euro against the dollar. The exchange rate of the euro against the dollar affects the dollar index (and strongly influences, given the 57% share of the euro in the basket of currencies). The dollar index, in turn, has an inverse correlation with Bitcoin (i.e., Bitcoin rises when the dollar index falls, and vice versa).
The TESLA report is interesting in that it will indicate whether the Bitcoins previously purchased by Musk remained on the company's balance sheet. If they suddenly become smaller, it will be negative for the market. I don't think it will. Musk is not a deer, selling Bitcoin for a penny. Monkeypox - a possible scenario was discussed back in May.
For the markets, this will be positive, as the dollar will be generated out of thin air again. Bitcoin worked out the weekend forecast given on friday(https://t.me/decryptedge/1160) After a small rollback overnight to $20,800, Bitcoin is now again above 21K and is very likely to test the $22,700 area today. For further growth, it is necessary to firmly consolidate above. Altcoins rose as expected over the weekend. Market capitalization is now at the $1 trillion mark, and the dominance index has fallen. Most of this growth belongs to Ethereum, which is already above 1400.
For today - Bitcoin in the range with the lower limit at $19,800- $19,500 and the upper limit at $21,900- $22,800.
Lastly to some news, Former Ripple Labs founder Jed McCaleb has finally ended the eight-year dump of his XRP holdings, around 18.6% of the total circulating supply of XRP, leaving only 46.7 XRP left sitting in his famed “~tacostand” wallet. The price of XRP is currently sitting at 0.3564, up 0.82% over the last 24 hours. The asset is down almost 90% from its January 2018 all-time high of $3.40. Last week, the SEC suffered a blow in its case against Ripple after a U.S. judge ruled that the SEC must produce internal documents relating to the “Hinman speech,” which could be a pivotal piece of evidence in support of Ripple’s defense. Should Ripple be successful in arguing that #XRP is not a security, some believe this ruling could set a precedent for other similar crypto token issuers while boosting #XRP prices.
As always, 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 spent the weekend in the $20,500- $21,670 range and at the time of writing this review, Bitcoin is worth $22,227. Market capitalization $1.013 Trillion, BTC, ETH dominance index of 41.9%, and 17.7% fear index 20. Stock markets opened with a moderate positive. Asian indices are growing, the dollar index is slightly decreasing and is now at 107.7, the futures on the SP 500 are also in a slight plus.
This week there will be a lot of important data for the market. Tomorrow there will be data on consumer inflation in the EU, on Wednesday - production inflation in Germany and TESLA report, on Thursday WHO will announce something on monkeypox. How can this affect the crypto market? Data on inflation in the EU affect the euro against the dollar. The exchange rate of the euro against the dollar affects the dollar index (and strongly influences, given the 57% share of the euro in the basket of currencies). The dollar index, in turn, has an inverse correlation with Bitcoin (i.e., Bitcoin rises when the dollar index falls, and vice versa).
The TESLA report is interesting in that it will indicate whether the Bitcoins previously purchased by Musk remained on the company's balance sheet. If they suddenly become smaller, it will be negative for the market. I don't think it will. Musk is not a deer, selling Bitcoin for a penny. Monkeypox - a possible scenario was discussed back in May.
For the markets, this will be positive, as the dollar will be generated out of thin air again. Bitcoin worked out the weekend forecast given on friday(https://t.me/decryptedge/1160) After a small rollback overnight to $20,800, Bitcoin is now again above 21K and is very likely to test the $22,700 area today. For further growth, it is necessary to firmly consolidate above. Altcoins rose as expected over the weekend. Market capitalization is now at the $1 trillion mark, and the dominance index has fallen. Most of this growth belongs to Ethereum, which is already above 1400.
For today - Bitcoin in the range with the lower limit at $19,800- $19,500 and the upper limit at $21,900- $22,800.
Lastly to some news, Former Ripple Labs founder Jed McCaleb has finally ended the eight-year dump of his XRP holdings, around 18.6% of the total circulating supply of XRP, leaving only 46.7 XRP left sitting in his famed “~tacostand” wallet. The price of XRP is currently sitting at 0.3564, up 0.82% over the last 24 hours. The asset is down almost 90% from its January 2018 all-time high of $3.40. Last week, the SEC suffered a blow in its case against Ripple after a U.S. judge ruled that the SEC must produce internal documents relating to the “Hinman speech,” which could be a pivotal piece of evidence in support of Ripple’s defense. Should Ripple be successful in arguing that #XRP is not a security, some believe this ruling could set a precedent for other similar crypto token issuers while boosting #XRP prices.
As always, 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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Thoughts on the market on 15.07. 2022
Bitcoin was in the range of $19,630- $20,895 during the day and at the time of writing the review, Bitcoin is worth $20,676. Total crypto market capitalization of $931 billion, BTC, ETH dominance index 42.5% and 15.8%…
Bitcoin was in the range of $19,630- $20,895 during the day and at the time of writing the review, Bitcoin is worth $20,676. Total crypto market capitalization of $931 billion, BTC, ETH dominance index 42.5% and 15.8%…
Thoughts on the market on 19.07.2022
Bitcoin was in the range of $22,960- $21,800 during the day. At the time of writing the review, Bitcoin is worth $21,670. Total Crypto market capitalization of $1.070 Trillion, BTC, ETH dominance index of 41.3% and 18.3% , fear index 30
Stock markets closed lower yesterday. Nasdaq down 0.81%, Dow Jones down 0.69%, S&P 500 down 0.84% to close at 3830. Interestingly, the markets started yesterday's trading session higher, the S&P 500 almost reached 3900, after which the markets turned to fall on Apple's announcement of cost cuts and the transition to a recession.
Today there will be data on inflation in the EU. Another record is possible. At the same time, the ECB cannot act decisively and raise the rate by more than 0.5% due to problems with the debt of Italy and Greece. The Fed is expected to raise rates by 0.75% at the next meeting. This means that a quick return of the dollar index to growth is likely due to the continued fall of the euro against the dollar. Why this might be important for the crypto market.
Oil has turned to growth, Brent is already above 106, this despite the expectations of a recession. What will happen when at least something good happens in the economy and speaks of a transition to growth, or at least an end to the fall? The price of copper (a leading indicator of the state of the economy) has been rising since 15.07. This is a good sign for the markets, as is the yield on 10-year bonds, which is still below 3.
Bitcoin got rejected by 171 points ($22,971) past our upper limit range at $21,900- $22,800. It got rejected twice during the day, with this fail it returned to the range indicated. There will probably be another try. But in case of failure, we remain in the same range and it would be logical to test its lower limit of $19,800- $19,500.
The forecast for today is Bitcoin in a range with an upper limit at $22,800- $23,000 and a lower limit at $19,800- $19,500. Ethereum is now fixed above 1500. It's aligned for growth. I am waiting for Thursday for significant moves. There is a 0.9 correlation of Bitcoin to the stock market. After the dollar index cool off we may revisit the highs of 109.284.
Lastly, Mt. Gox payouts are coming up probably next month, the company holds around 141,686 BTC, 142,846 bitcoin cash (BCH) and 69,776,002,441 yen (~$3.2 billion). No one knows exactly what will happen, these are bitcoins that were bought when price was at $1000 in 2014 to date; 2022 when price is at $20K. What would you do if were you?
As always, 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 was in the range of $22,960- $21,800 during the day. At the time of writing the review, Bitcoin is worth $21,670. Total Crypto market capitalization of $1.070 Trillion, BTC, ETH dominance index of 41.3% and 18.3% , fear index 30
Stock markets closed lower yesterday. Nasdaq down 0.81%, Dow Jones down 0.69%, S&P 500 down 0.84% to close at 3830. Interestingly, the markets started yesterday's trading session higher, the S&P 500 almost reached 3900, after which the markets turned to fall on Apple's announcement of cost cuts and the transition to a recession.
Today there will be data on inflation in the EU. Another record is possible. At the same time, the ECB cannot act decisively and raise the rate by more than 0.5% due to problems with the debt of Italy and Greece. The Fed is expected to raise rates by 0.75% at the next meeting. This means that a quick return of the dollar index to growth is likely due to the continued fall of the euro against the dollar. Why this might be important for the crypto market.
Oil has turned to growth, Brent is already above 106, this despite the expectations of a recession. What will happen when at least something good happens in the economy and speaks of a transition to growth, or at least an end to the fall? The price of copper (a leading indicator of the state of the economy) has been rising since 15.07. This is a good sign for the markets, as is the yield on 10-year bonds, which is still below 3.
Bitcoin got rejected by 171 points ($22,971) past our upper limit range at $21,900- $22,800. It got rejected twice during the day, with this fail it returned to the range indicated. There will probably be another try. But in case of failure, we remain in the same range and it would be logical to test its lower limit of $19,800- $19,500.
The forecast for today is Bitcoin in a range with an upper limit at $22,800- $23,000 and a lower limit at $19,800- $19,500. Ethereum is now fixed above 1500. It's aligned for growth. I am waiting for Thursday for significant moves. There is a 0.9 correlation of Bitcoin to the stock market. After the dollar index cool off we may revisit the highs of 109.284.
Lastly, Mt. Gox payouts are coming up probably next month, the company holds around 141,686 BTC, 142,846 bitcoin cash (BCH) and 69,776,002,441 yen (~$3.2 billion). No one knows exactly what will happen, these are bitcoins that were bought when price was at $1000 in 2014 to date; 2022 when price is at $20K. What would you do if were you?
As always, 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 on 20.07. 2022
Bitcoin was in the range of $22,400- $23,800 during the day and at the time of writing the review, Bitcoin is worth $23,575
Market capitalization $1.071 Trillion,
BTC, ETH Dominance index of 42.3% and 17.7%
Fear index 31.
Stock markets continued their growth yesterday. The Dow Jones index rose by 2.43% by the close of the market, the S&P 500 rose by 2.76% and reached 3936 points. Nasdaq 3.11%. Well, this is not surprising, since the quarterly reports of companies were not as weak as many feared, plus the weakening of the dollar also supported the growing markets.
European markets also finished trading with growth, despite the released data on inflation in the euro area, which confirmed that the indicator is at its maximum level since the beginning of its calculation.
Oil, gold, silver and natural gas have lost a little, only copper is growing and this is good. Everything is fine on the crypto market, bitcoin confidently consolidated above $23,000 and reached highs at $23,800. Ethereum tried to fight for $1600, but so far it has not worked out, I’m sure there will be another attempt today.
For today, since the price has now been fixed above $23,000, there is every chance to go further, up to 27-28K, but let's not be overzealous, we are still in a macro bear trend. If we go lower and lose $23K, we shall return to the previous range of 22-23K and lower this time.
The United States, Germany and Switzerland entered the top 3 cryptocurrency-friendly countries, while Singapore and Australia closed the top five. Only CAR, South Africa & Nigeria feature for Africa! @Coincub I wonder why Kenya is absent? Full details here: It's a good read (https://coincub.com/ranking/the-coincub-q2-global-crypto-ranking-categories-2022/).
As always, 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 was in the range of $22,400- $23,800 during the day and at the time of writing the review, Bitcoin is worth $23,575
Market capitalization $1.071 Trillion,
BTC, ETH Dominance index of 42.3% and 17.7%
Fear index 31.
Stock markets continued their growth yesterday. The Dow Jones index rose by 2.43% by the close of the market, the S&P 500 rose by 2.76% and reached 3936 points. Nasdaq 3.11%. Well, this is not surprising, since the quarterly reports of companies were not as weak as many feared, plus the weakening of the dollar also supported the growing markets.
European markets also finished trading with growth, despite the released data on inflation in the euro area, which confirmed that the indicator is at its maximum level since the beginning of its calculation.
Oil, gold, silver and natural gas have lost a little, only copper is growing and this is good. Everything is fine on the crypto market, bitcoin confidently consolidated above $23,000 and reached highs at $23,800. Ethereum tried to fight for $1600, but so far it has not worked out, I’m sure there will be another attempt today.
For today, since the price has now been fixed above $23,000, there is every chance to go further, up to 27-28K, but let's not be overzealous, we are still in a macro bear trend. If we go lower and lose $23K, we shall return to the previous range of 22-23K and lower this time.
The United States, Germany and Switzerland entered the top 3 cryptocurrency-friendly countries, while Singapore and Australia closed the top five. Only CAR, South Africa & Nigeria feature for Africa! @Coincub I wonder why Kenya is absent? Full details here: It's a good read (https://coincub.com/ranking/the-coincub-q2-global-crypto-ranking-categories-2022/).
As always, 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
Coincub
Q2 2022 Global Crypto Ranking. Germany goes head to head with the USA, but Germany is leading the crypto world in a different way than its American counterpart.
Thoughts on the Crypto market on 22.07. 2022
Bitcoin was in the range of $23,440- $22,340 during the day and at the time of writing the review, Bitcoin is worth 23,116.
Market capitalization $1.052 Trillion,
BTC, ETH Dominance index of 42.0% and 18.3%,
Fear index 33.
Stock markets were up yesterday. The Dow Jones rose 0.51% to a one-month high, the S&P 500 rose 0.99% and the NASDAQ advanced 1.36%. The dollar index fell 0.40% to 106.52.
The European Central Bank, following a meeting on Thursday, raised interest rates for the first time in 11 years, by 50 basis points at once, in order to stabilize inflation at the target level of 2% in the medium term. Bitcoin, after yesterday's setup from Mask, found support at $22,800, and now it is surprisingly trying to gain a foothold above $23,000. Ethereum can be said not to flinch, and now it has almost returned to its recent high.
Judging by the fear-greed index, the information about Tesla selling its bitcoins did not scare the market participants. But the crowd drew conclusions and a bunch of memes with Musk and his promises not to sell bitcoin are already walking on the Internet. The crowd already understands the medium-term prospects of bitcoin and therefore is in no hurry to throw it off at such prices.
By the way, yesterday, the leaders of growth among the components of the S&P 500 index following the results of trading were Tesla shares, which rose in price by 9.78%.
For today expect Bitcoin in the range of $22,500- $24,000. The next key date I am looking at is 27th July. The fact that Bitcoin has succeeded to reclaim $23300 after 35 days of breaking down and hit $241xx yesterday, but failed to hold there and went down again to $228xx people connected it to Tesla reports about Q2 and selling 75% of their own BTC contrary of the diamond hands earlier stated. TSLA sold 75% of their Bitcoin for an average price of $28,888 - nearly a 9% discount from their average entry of $31,620. ‘He who sells first sells best’!
Current daily performance looks bad price action and which support chance for retest $21,500 as first support below $23k! So if price fails to reclaim $24k again before weekly end and bears make BTC close weekly below or near $21k this will be a sign for another sell-off wave next week.
Vitalik Buterin spoke about his plan to improve Ethereum after switching to a POS algorithm, the final result will be the processing of 100,000 transactions per second. Everything is gearing up to launch to new highs. Former top manager of @Coinbase was arrested (https://www.justice.gov/usao-sdny/pr/three-charged-first-ever-cryptocurrency-insider-trading-tipping-scheme) on charges of insider trading. The defendants made illegal trades in at least 25 different crypto assets and realized ill-gotten gains totaling approximately $1.5 million.
As always, 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 was in the range of $23,440- $22,340 during the day and at the time of writing the review, Bitcoin is worth 23,116.
Market capitalization $1.052 Trillion,
BTC, ETH Dominance index of 42.0% and 18.3%,
Fear index 33.
Stock markets were up yesterday. The Dow Jones rose 0.51% to a one-month high, the S&P 500 rose 0.99% and the NASDAQ advanced 1.36%. The dollar index fell 0.40% to 106.52.
The European Central Bank, following a meeting on Thursday, raised interest rates for the first time in 11 years, by 50 basis points at once, in order to stabilize inflation at the target level of 2% in the medium term. Bitcoin, after yesterday's setup from Mask, found support at $22,800, and now it is surprisingly trying to gain a foothold above $23,000. Ethereum can be said not to flinch, and now it has almost returned to its recent high.
Judging by the fear-greed index, the information about Tesla selling its bitcoins did not scare the market participants. But the crowd drew conclusions and a bunch of memes with Musk and his promises not to sell bitcoin are already walking on the Internet. The crowd already understands the medium-term prospects of bitcoin and therefore is in no hurry to throw it off at such prices.
By the way, yesterday, the leaders of growth among the components of the S&P 500 index following the results of trading were Tesla shares, which rose in price by 9.78%.
For today expect Bitcoin in the range of $22,500- $24,000. The next key date I am looking at is 27th July. The fact that Bitcoin has succeeded to reclaim $23300 after 35 days of breaking down and hit $241xx yesterday, but failed to hold there and went down again to $228xx people connected it to Tesla reports about Q2 and selling 75% of their own BTC contrary of the diamond hands earlier stated. TSLA sold 75% of their Bitcoin for an average price of $28,888 - nearly a 9% discount from their average entry of $31,620. ‘He who sells first sells best’!
Current daily performance looks bad price action and which support chance for retest $21,500 as first support below $23k! So if price fails to reclaim $24k again before weekly end and bears make BTC close weekly below or near $21k this will be a sign for another sell-off wave next week.
Vitalik Buterin spoke about his plan to improve Ethereum after switching to a POS algorithm, the final result will be the processing of 100,000 transactions per second. Everything is gearing up to launch to new highs. Former top manager of @Coinbase was arrested (https://www.justice.gov/usao-sdny/pr/three-charged-first-ever-cryptocurrency-insider-trading-tipping-scheme) on charges of insider trading. The defendants made illegal trades in at least 25 different crypto assets and realized ill-gotten gains totaling approximately $1.5 million.
As always, 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
www.justice.gov
Three Charged In First Ever Cryptocurrency Insider Trading Tipping
Thoughts on the market on 23.07.2022
Bitcoin was in the range of $23,750- $22,500 yesterday and at the time of writing the review, Bitcoin is worth $22,266.
Market capitalization $1.025 Trillion,
BTC, ETH Dominance index of 41.8% and 18.2%
Fear index 31.
Stock markets fell yesterday. The Dow Jones fell 0.43%, the S&P 500 fell 0.93% and the NASDAQ fell 1.87%. The dollar index fell 0.33% to 106.46.
Bitcoin clearly worked out yesterday's analysis and remained in the specified range. After an unsuccessful attempt to get to $24K, Bitcoin started to decline, reaching a local minimum at $22,500, saw a little bounce back from this level to $23,0000. Ethereum clearly follows Bitcoin and repeats its movements.
Over the weekend, expect Bitcoin in the range of $21,500 - $24,000, with possible momentum both ways in the thin weekend market. Our bias is more to the downside to $21,100.
Otherwise, nothing interesting happened save for some news about #FTX is in advanced talks to buy South Korea’s Bithumb. Bloomberg said. FTX is also raising funds. Binance & Huobi have considered acquiring Bithumb before. Currently, 90% of the trading volume in South Korea is concentrated on Upbit.
A newly sworn-in Securities and Exchange Commission (SEC) commissioner is a former staffer for House Speaker Nancy Pelosi, D-Calif. SEC commissioner Jaime Lizárraga was sworn in on Monday to his position in the financial regulatory body.
As always, 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 was in the range of $23,750- $22,500 yesterday and at the time of writing the review, Bitcoin is worth $22,266.
Market capitalization $1.025 Trillion,
BTC, ETH Dominance index of 41.8% and 18.2%
Fear index 31.
Stock markets fell yesterday. The Dow Jones fell 0.43%, the S&P 500 fell 0.93% and the NASDAQ fell 1.87%. The dollar index fell 0.33% to 106.46.
Bitcoin clearly worked out yesterday's analysis and remained in the specified range. After an unsuccessful attempt to get to $24K, Bitcoin started to decline, reaching a local minimum at $22,500, saw a little bounce back from this level to $23,0000. Ethereum clearly follows Bitcoin and repeats its movements.
Over the weekend, expect Bitcoin in the range of $21,500 - $24,000, with possible momentum both ways in the thin weekend market. Our bias is more to the downside to $21,100.
Otherwise, nothing interesting happened save for some news about #FTX is in advanced talks to buy South Korea’s Bithumb. Bloomberg said. FTX is also raising funds. Binance & Huobi have considered acquiring Bithumb before. Currently, 90% of the trading volume in South Korea is concentrated on Upbit.
A newly sworn-in Securities and Exchange Commission (SEC) commissioner is a former staffer for House Speaker Nancy Pelosi, D-Calif. SEC commissioner Jaime Lizárraga was sworn in on Monday to his position in the financial regulatory body.
As always, 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 on 25.07.2022.
Bitcoin spent the weekend with the $21,900-$23,000 range and at the time of writing the review, Bitcoin is worth $21,900.
Market capitalization $1.009 Trillion,
BTC, ETH dominance index of 41.5% and 18.4%
Fear index 30.
Stock markets opened lower. Asian indices are trading in different directions, the dollar index is at 106.6, the S&P 500 futures are down 0.20%, gold, silver, and oil also showing a slight negative. The only commodity showing growth is natural gas.
Bitcoin is also falling, and pulling the rest of the market with it. After Bitcoin failed to gain a foothold at $23,000, a drain began, to a low of $21,737, its now trading around $21,900. Alts followed the main cryptocurrency, some lost up to 10%.
For today, expect Bitcoin with a lower border range at $20,000-$20,500 and an upper border at $22,000- $22,500.
Citigroup analysts report that the situation in the digital asset market has begun to stabilize. While Celsius Network filed for bankruptcy protection, the conversion of stablecoins to fiat and the outflow of funds from ETFs began, the use of leverage decreased, all these events indicate that the panic in the digital asset market is coming to an end. This is a consensus that's now getting empirical and bound to be abused, also known as manipulation. Need I remind you that, as we mentioned last week here: https://t.me/decryptedge/1165 If price fails to reclaim $24k again before weekly end and bears make BTC close weekly below or near $21k this will be a sign for another sell-off wave next week. This will open up a high probability for BTC to go below $18,000 weekly, followed by $16K, next levels will be ($10,875 - $12,688 - $14,600)
As always, 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 spent the weekend with the $21,900-$23,000 range and at the time of writing the review, Bitcoin is worth $21,900.
Market capitalization $1.009 Trillion,
BTC, ETH dominance index of 41.5% and 18.4%
Fear index 30.
Stock markets opened lower. Asian indices are trading in different directions, the dollar index is at 106.6, the S&P 500 futures are down 0.20%, gold, silver, and oil also showing a slight negative. The only commodity showing growth is natural gas.
Bitcoin is also falling, and pulling the rest of the market with it. After Bitcoin failed to gain a foothold at $23,000, a drain began, to a low of $21,737, its now trading around $21,900. Alts followed the main cryptocurrency, some lost up to 10%.
For today, expect Bitcoin with a lower border range at $20,000-$20,500 and an upper border at $22,000- $22,500.
Citigroup analysts report that the situation in the digital asset market has begun to stabilize. While Celsius Network filed for bankruptcy protection, the conversion of stablecoins to fiat and the outflow of funds from ETFs began, the use of leverage decreased, all these events indicate that the panic in the digital asset market is coming to an end. This is a consensus that's now getting empirical and bound to be abused, also known as manipulation. Need I remind you that, as we mentioned last week here: https://t.me/decryptedge/1165 If price fails to reclaim $24k again before weekly end and bears make BTC close weekly below or near $21k this will be a sign for another sell-off wave next week. This will open up a high probability for BTC to go below $18,000 weekly, followed by $16K, next levels will be ($10,875 - $12,688 - $14,600)
As always, 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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Thoughts on the Crypto market on 22.07. 2022
Bitcoin was in the range of $23,440- $22,340 during the day and at the time of writing the review, Bitcoin is worth 23,116.
Market capitalization $1.052 Trillion,
BTC, ETH Dominance index of 42.0% and 18.3%,…
Bitcoin was in the range of $23,440- $22,340 during the day and at the time of writing the review, Bitcoin is worth 23,116.
Market capitalization $1.052 Trillion,
BTC, ETH Dominance index of 42.0% and 18.3%,…
Thoughts on the Crypto market on 26.07.2022
Bitcoin was in the range of $22,660- $20,850 during the day and at the time of this writing is trading for $21,096
Market capitalization $971 billion,
BTC, ETH Dominance index of 41.7% and 17.9%
Fear index 26.
The stock market ended trading in different directions. The Dow Jones rose 0.28%, the S&P 500 gained 0.13% and the NASDAQ lost 0.43%. Oil, gas, gold and silver showed growth. The USD index fell 0.29% to 106.31.
The market is waiting for the next meeting of the Fed and the publication of statements of the largest companies in the technology sector (#AMAZON, #APPLE, #INTEL, #VISA, #GOOGLE). The Fed meeting will take place today and continue tomorrow, and market participants expect the Central Bank to raise the base interest rate by 75 basis points to 2.25-2.5%, but the option of raising it immediately by 100 bp is not ruled out.
In a word, there will be many events, and they will set the direction of the market for the next couple of weeks. On the crypto market, everything is according to the plan outlined yesterday. Bitcoin fell below $21K to a low price of $20,856. The capitalization of the entire market again fell below a trillion, everyone is waiting for news from the Fed and data on the report, as mentioned above.
The situation with Coinbase could also have influenced, yesterday it was reported that the SEC launched an investigation into the exchange due to trading in unregistered securities. And the most interesting thing is that this FUD comes from Bloomberg, on which CZ (the owner of Binance) filed a libel suit and requires apologies, monetary compensation and the removal of fake articles about the exchange and BNB. The defamation lawsuit filed by CZ highlights Bloomberg Businessweek’s 250th issue about CZ. The cover of the issue was misleading and was titled “Changpeng Zhao’s Ponzi Scheme.” The lawsuit also cites the 250th issue along with social media posts on Facebook and Twitter.
For today. Bitcoin is in the range of $20,000 - $22,000. Our bias take is bearish to a $20,096 and $19,070 price tag for tomorrow.. Those ahead of the curve and wanted to sell before the news and meetings have already done so. With little trading volume present, price spikes will be erratic.
As always, 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 was in the range of $22,660- $20,850 during the day and at the time of this writing is trading for $21,096
Market capitalization $971 billion,
BTC, ETH Dominance index of 41.7% and 17.9%
Fear index 26.
The stock market ended trading in different directions. The Dow Jones rose 0.28%, the S&P 500 gained 0.13% and the NASDAQ lost 0.43%. Oil, gas, gold and silver showed growth. The USD index fell 0.29% to 106.31.
The market is waiting for the next meeting of the Fed and the publication of statements of the largest companies in the technology sector (#AMAZON, #APPLE, #INTEL, #VISA, #GOOGLE). The Fed meeting will take place today and continue tomorrow, and market participants expect the Central Bank to raise the base interest rate by 75 basis points to 2.25-2.5%, but the option of raising it immediately by 100 bp is not ruled out.
In a word, there will be many events, and they will set the direction of the market for the next couple of weeks. On the crypto market, everything is according to the plan outlined yesterday. Bitcoin fell below $21K to a low price of $20,856. The capitalization of the entire market again fell below a trillion, everyone is waiting for news from the Fed and data on the report, as mentioned above.
The situation with Coinbase could also have influenced, yesterday it was reported that the SEC launched an investigation into the exchange due to trading in unregistered securities. And the most interesting thing is that this FUD comes from Bloomberg, on which CZ (the owner of Binance) filed a libel suit and requires apologies, monetary compensation and the removal of fake articles about the exchange and BNB. The defamation lawsuit filed by CZ highlights Bloomberg Businessweek’s 250th issue about CZ. The cover of the issue was misleading and was titled “Changpeng Zhao’s Ponzi Scheme.” The lawsuit also cites the 250th issue along with social media posts on Facebook and Twitter.
For today. Bitcoin is in the range of $20,000 - $22,000. Our bias take is bearish to a $20,096 and $19,070 price tag for tomorrow.. Those ahead of the curve and wanted to sell before the news and meetings have already done so. With little trading volume present, price spikes will be erratic.
As always, 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 on 28.07.2022
Bitcoin was in the range of $23,460- $21,040 during the day and at the time of writing the review, Bitcoin is worth $22,966.
Market capitalization $1.052 Trillion,
BTC, ETH dominance index of 41.8% and 18.8%.
Fear index 32.
Stock markets were up yesterday. The Dow Jones rose 1.37% to hit a monthly high, the S&P 500 gained 2.62% and the NASDAQ gained 4.06%. Gold, silver, oil and gas are also showing growth. The dollar index fell 0.68% to 106.31. The markets are positive and I must say thanks to the US Federal Reserve for raising the rate by only 0.75%, now its range is 2.25-2.5% per annum. Jerome Powell did not frighten anyone with his speech and did not say anything new.
The key points Powell said at the press conference: inflation is too high, the Fed will continue to reduce the balance sheet, another serious (big) rate hike is possible at the next meeting, if inflation continues to rise, they can raise the rate by 100 bp. In 2023, they may also continue to raise the rate.
We are waiting for more reports on US GDP today, which will show a recession in the US or not, although Powell assured in his speech that there is no recession in the country and he does not believe in its onset.
The crypto market is growing after the stock market, Bitcoin at the moment rose to $23,460 and is now trying to gain a foothold at 23K. Altcoins pulled after Bitcoin, even slightly ahead of it, Ethereum not only returned to its recent high, but also exceeded it, approaching almost $1,700 per coin. For Bitcoin’s further growth, it needs to overcome the resistance area at $23,800-$24,200 and gain a foothold above. In this case, the most likely option is an increase to $27,000- $28,000.
If price does not take out the resistances, it's likely to remain in the range with the upper limit at $24,000-$24,200 and if rejected the lower limit at $20,800-$21,000 all the way to $20/19K.
Interestingly Cathy Wood Ark Invest Fund sold (https://www.coindesk.com/markets/2022/07/27/cathie-woods-ark-invest-offloads-over-14m-coinbase-shares-as-coin-price-falls /) 1.4 million Coinbase shares. Apparently, Katie realized that she smelled fear and decided to throw off shares and go into bitcoin. All the same, Coinbase went slightly negative. This SEC investigation at the end will not lead to good. Perhaps Cathy knows something and she is out of the woods, even so happy with Bitcoin.
The Biden administration is considering declaring a public health emergency over monkeypox. We talked about this topic a while back and it would be blown up. Biden, who is already controlled remotely, is going to run in the elections in 2024. WHO is thinking about how to rename monkeypox. This comes from a New York Health Commissioner Ashwin Vasan who approached the World Health Organization (WHO) with a proposal to rename monkeypox. The idea to change the name was born out of tolerant considerations, so as not to injure representatives of the LGBT community and black people. That's all you need to know about where the world is heading.
Lastly, the IMF is intimidating the Crypto markets warning of a possible strong drop and stablecoin problems. Sighting that crypto markets could see further selling pressure and more failures of coin offerings, including stablecoins. “We could see further selloffs, both in crypto assets and in risky asset markets, like equities,” Tobias Adrian, Director of Monetary and Capital Markets for the IMF, told Yahoo Finance in an interview. “There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail.” If a recession ensues, crypto would drop even further, says Adrian.
Bitcoin was in the range of $23,460- $21,040 during the day and at the time of writing the review, Bitcoin is worth $22,966.
Market capitalization $1.052 Trillion,
BTC, ETH dominance index of 41.8% and 18.8%.
Fear index 32.
Stock markets were up yesterday. The Dow Jones rose 1.37% to hit a monthly high, the S&P 500 gained 2.62% and the NASDAQ gained 4.06%. Gold, silver, oil and gas are also showing growth. The dollar index fell 0.68% to 106.31. The markets are positive and I must say thanks to the US Federal Reserve for raising the rate by only 0.75%, now its range is 2.25-2.5% per annum. Jerome Powell did not frighten anyone with his speech and did not say anything new.
The key points Powell said at the press conference: inflation is too high, the Fed will continue to reduce the balance sheet, another serious (big) rate hike is possible at the next meeting, if inflation continues to rise, they can raise the rate by 100 bp. In 2023, they may also continue to raise the rate.
We are waiting for more reports on US GDP today, which will show a recession in the US or not, although Powell assured in his speech that there is no recession in the country and he does not believe in its onset.
The crypto market is growing after the stock market, Bitcoin at the moment rose to $23,460 and is now trying to gain a foothold at 23K. Altcoins pulled after Bitcoin, even slightly ahead of it, Ethereum not only returned to its recent high, but also exceeded it, approaching almost $1,700 per coin. For Bitcoin’s further growth, it needs to overcome the resistance area at $23,800-$24,200 and gain a foothold above. In this case, the most likely option is an increase to $27,000- $28,000.
If price does not take out the resistances, it's likely to remain in the range with the upper limit at $24,000-$24,200 and if rejected the lower limit at $20,800-$21,000 all the way to $20/19K.
Interestingly Cathy Wood Ark Invest Fund sold (https://www.coindesk.com/markets/2022/07/27/cathie-woods-ark-invest-offloads-over-14m-coinbase-shares-as-coin-price-falls /) 1.4 million Coinbase shares. Apparently, Katie realized that she smelled fear and decided to throw off shares and go into bitcoin. All the same, Coinbase went slightly negative. This SEC investigation at the end will not lead to good. Perhaps Cathy knows something and she is out of the woods, even so happy with Bitcoin.
The Biden administration is considering declaring a public health emergency over monkeypox. We talked about this topic a while back and it would be blown up. Biden, who is already controlled remotely, is going to run in the elections in 2024. WHO is thinking about how to rename monkeypox. This comes from a New York Health Commissioner Ashwin Vasan who approached the World Health Organization (WHO) with a proposal to rename monkeypox. The idea to change the name was born out of tolerant considerations, so as not to injure representatives of the LGBT community and black people. That's all you need to know about where the world is heading.
Lastly, the IMF is intimidating the Crypto markets warning of a possible strong drop and stablecoin problems. Sighting that crypto markets could see further selling pressure and more failures of coin offerings, including stablecoins. “We could see further selloffs, both in crypto assets and in risky asset markets, like equities,” Tobias Adrian, Director of Monetary and Capital Markets for the IMF, told Yahoo Finance in an interview. “There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail.” If a recession ensues, crypto would drop even further, says Adrian.
CoinDesk
Cathie Wood's Ark Invest Offloads Over 1.4M Coinbase Shares as COIN Price Falls
Coinbase shares have taken a big hit following disappointing results and a report the exchange is being investigated by the U.S. Securities and Exchange Commission.