No much to add to last week’s comments as Ethereum looks for support in the 40 day cycle trough zone and at the January uptrend support line.
Interestingly crypto is going up while global equity markets slump, typically they are tightly coupled. The preferred view remains for an upside reversal in both Ethereum and Bitcoin. The key level to beat here is US$3,000. We need price to pass up through and find support at this level.
BTC has soared past US$21,000. Also, Justin Sun is looking to spend a billion dollars on DCG's assets, India's RBI head is calling for a complete ban on crypto, and more.
There were US$433 million entering digital asset products last year, down 95% and 90% from US$9.1 billion in 2021 and US$6.6 billion in 2020 respectively.
There has been little action around the two main cryptocurrencies in the past month, and Bitcoin’s dominance of the crypto market still stands at 40.15%. The question on everyone’s minds is whether the crypto market has bottomed, and how long it will take for confidence to return.
2022 has been a tale of two halves for the crypto industry. Here are the most inspiring quotes from crypto industry leaders that haven’t exactly aged well.
Mt Gox first launched in the summer of 2010 but suspended operations in February 2014 after 750,000 Bitcoins went missing
Tokenization giant Ondo Finance is partnering with Noble to bring tokenized U.S. Treasury products to over 90 blockchains in the Cosmos ecocystem
DOGE flashed bullish signals at a key price level with the potential to repeat a previous bullish run that could produce gains of up to 45%.
Though it reached a new high in March, experts surveyed by Blockhead are unsure if it will reach $100,000 this year due to volatility. However, they are bullish on Bitcoin in the long term, expecting it to hit $100,000 next year and $150,000 by the end of 2025.
