CRYPTONAIRE WEEKLY MAGAZINE 222ND EDITION IS OUT NOW
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222nd Latest Crypto News Digital MagazineDu Jun, the co-founder of Huobi, told CNBC that Bitcoin’s bull markets are closely related to the halving cycle. “If this circle continues, we are now at the early stage of a bear market,” Du said. He expects Bitcoin’s next bull market to start either at the end of 2024 or the beginning of 2025.
Stifel's Barry Bannister said in a note that the US Federal Reserve’s tightening cycle is likely to negatively impact Bitcoin’s price. "In 2022, we see bitcoin in
a broad trading range bounded by year-to-date intraday levels with greater downside risk in 2023 if the Fed continues to normalise policy in a 'standard' two-year tightening cycle. If bitcoin divided by gold falls to the low end of its range (Fed tightens) bitcoin could drop to $10,000 by 2023," Bannister explained, Business Insider reported.
While several investors may be getting sleepless nights due to the current fall in Bitcoin, Mexico’s third-richest billionaire, Ricardo Salinas Pliego, views this as a buying opportunity. He urged his Twitter followers to buy Bitcoin when the price was low and hold.
We had mentioned in our previous analysis that bears are unlikely to give up easily and will defend the overhead resistance zone between £32,382.23 and £34,031.76 and that is what happened.
Bitcoin turned down from the resistance zone on February 16 and plunged below the moving averages on February 17. The buyers attempted to stall the decline at the strong support of £29,000 but the failure to achieve a strong rebound off it emboldened the bears.
The selling resumed on February 20 and the bears pulled the price below £29,000. The bulls attempted to push the price back above the breakdown level on February 21 but the bears sold the rally to £29,000.
Both moving averages are sloping down and the relative strength index (RSI) is close to the oversold levels, indicating that bears are in command.
If the support at £26,649.75 cracks, the BTC/GBP pair could extend its slide to £25,000. The first sign of strength will be a break and close above the 20-day exponential moving average (EMA). Until then, rallies are likely to be sold into.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- Reefer Token
- Faith Tribe
- Jimizz
- Diversity
- Fren
- Chosen Ones
- Digital Arms
- Hubble Protocol
- bitcci
- DeepsquareRead More
CRYPTO TRADE OPPORTUNITIES
BTC below 40k, short-term holders drive volatility while geopolitics spook markets
Warren Buffett invests $1B in Bitcoin-friendly neobank, dumps Visa and Mastercard stocks
Coinbase, Polygon Studios Join Jambo’s $7.5 Million Seed Round
Elon Musk Says Tesla Charging Stations Will Accept Dogecoin (DOGE) Payments in the Future
Diversity: DVT is a Unique Token That Has Both Economic & Human Benefits
Fren, Decentralised Social Network, Achieves and Exceeds Key Milestones Integrating networks and technologies to enhance the crypto community!
Faith Tribe: Introducing Web3 to the Fashion Industry
Digital Arms, Disrupting the Gaming Industry
Chosen Ones: The next generation of P2E games!
bitcci: Multiple Trusted IEO Listings
DeepSquare’s HPC solutions for Web 3.0 Platforms
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