Cryptonaire weekly magazine 221st edition is out now
Although crypto investors believe that Bitcoin is an uncorrelated asset and a store of value similar to gold, its recent price action has been closely correlated to the US tech stocks. According to data compiled by Bloomberg, Bitcoin’s 40-day correlation coefficient with the Nasdaq 100 is close to its all-time highs, indicating that Bitcoin is behaving as a large tech company.
However, MicroStrategy CEO Michael Saylor is unfazed by the fall in Bitcoin. In a recent interview on Irish economist David McWilliams' podcast, Saylor said that if investors are not prepared to hold Bitcoin for a decade, then they should not hold it even for ten minutes.
SoFi CEO Anthony Noto told CNBC that he and his family own Bitcoin, Ethereum and a few other cryptocurrencies but added that it was a “very small part” of their overall portfolio as “it’s an unproven asset and highly volatile.” Noto warned companies that “if you don't innovate, and you don't use cryptocurrency as a technology platform, you'll get left behind."
We had mentioned in our previous analysis that Bitcoin is likely to face stiff resistance in the zone between £32,382.23 and £34,031.76 and that is what happened.
The BTC/GBP pair dropped to the 20-day exponential moving average on February 14, which has acted as strong support. This suggests a change in sentiment from sell on
rallies to buy on dips.
The bulls will again attempt to drive the price above the overhead zone. If they manage to do that, the pair could start a rally to £36,000 and then to the stiff overhead resistance at £39,299.
However, the bears are unlikely to give up easily. They will try to defend the overhead zone aggressively. If the price turns down from the zone, the bears will try to pull the pair below the 20-day EMA. If they succeed, the pair could drop to the strong support at £29,000.
Short-term traders may look for buying opportunities on dips as long as the price remains above the 20-day EMA.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- Deepsquare
- Jimizz
- BOUJEE LEOPARDS CLUB
- Bitshiba
- Smartchem (SMAC)
- bitcci
- Chosen Ones
- Faith Tribe
- Candao
- Mine Network
- Onino
- Hubble Protocol
Read More
CRYPTO TRADE OPPORTUNITIES
The Russian government and the central bank agree to treat Bitcoin as a currency
Crypto Twitter Reacts to FTX, Coinbase, and Other Bitcoin Ads at the Super Bowl
Coinbase Plans 2K-Employee Hiring Spree This Year
Drake Pockets $381,000 From Super Bowl Bitcoin Bets
Boujee Leopard Club NFT to offer both tangible and virtual benefits
bitcci, Blockchain platform redefining the sex industry, has on ongoing ICO
Integrating networks and technologies to enhance the crypto community!
ONINO – The Multi-Purpose Cross-Chain Metadata Registry
#BOUJEELEOPARDSCLUB #Deepsquare #Bitshiba #Smartchem(SMAC) #bitcci #ChosenOnes #Jimizz #MineNetwork #FaithTribe #Onino #HubbleProtocol #CryptonaireWeekly #platinumcryptoacademy #Binance #Bitcoin #Ethereum #Ripple #Litecoin #Ecosystem #DayTrading #BTC #digitalcurrency #digitalcurrencymarket #DayTrading #Cryptocurrencyexchanges #digitalexchange
CW - Website Work
https://www.platinumcryptoacademy.co...-february-2022
