Monday, January 31, 2022

Your Weekly Update On All Things Crypto

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TL;DR

IMF Urges El Salvador to Remove Bitcoin As Legal Tender Over Concerns Of Diminishing Global Control
Cardano Continues Its DevelopmentAmongst Wave Of Criticisms And Technical Problems
Fidelity Investments has submitted an application for a new Metaverse ETF
Hackers Target And Steal $80M From Qubit Finance
Bitcoin: A Reminder To Zoom Out... 200 Week Moving Average In Persistent Uptrend Since Inception
Alt Dominance In Decisive Downtrend For Second Straight Week

MACRO NEWS

IMF Urges El Salvador to Remove Bitcoin As Legal Tender Over Concerns Of Diminishing Global Control

El Salvador has been encouraged by the International Monetary Fund (IMF) to revoke is legislation making Bitcoin (BTC) legal tender...

Cardano Continues Its Development Amongst Wave Of Criticisms And Technical Problems...

Cardano (ADA) is a project by Charles Hoskinson that had a lot of promise when it was first introduced as an alternative to Ethereum (ETH). Over the past few years, Charles Hoskinson’s initiative skyrocketed in terms of popularity and usage, even reaching the top 3 global cryptocurrencies by market capitalization once upon a time.

However, therein lies the problem...

Fidelity Investments Has Submitted Application For Metaverse ETF...

Fidelity Investments has submitted an application for a new Metaverse ETF (Exchange Traded Fund) which will track publicly traded firms with exposure to the blockchain-oriented network of three-dimensional digital worlds.

As per the filing, the Fidelity Metaverse ETF shall hence...

Hackers Target And Steal $80M From Qubit Finance...

Hackers have recently targeted Qubit Finance, a DeFi (Decentralised Finance) network. The culprits gained access to the network, which is based on BSC (Binance Smart Chain), and stole roughly around $80 million...

CONTENT OF THE WEEK

Microsoft Will Own The Metaverse

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Crypto News: Bitcoin Regulations and NFT Mania!

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The Crypto Market Is About To Go ABSURD | Raoul Pal Interview

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TECHNICAL ANALYSIS

Bitcoin: A Reminder To Zoom Out... 200 Week Moving Average In Persistent Uptrend Since Inception

As this mid-cycle correction for Bitcoin continues, we wanted to take a second to appreciated the consistent uptrend in the Bitcoin 200 week moving average. Since Bitcoin's inception, the trend has been overwhelmingly positive. It continues to drive the importance of 'HODLing' for the long term. Over time the most consistent way to win in the crypto market has been to buy and hold Bitcoin.

It is also worth noting that this price scale is logarithmic. Meaning the price on the y axis is increasing exponentially. This makes the consistent 200 week increase even more impressive.

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Alt Dominance In Decisive Downtrend For Second Straight Week

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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space.