Breakout Upwards Soon!
Corrective phase playing out perfectly
Hey Friends,
Bitcoin is still in its corrective phase and is primed for a breakout soon. This week was a healthy pull back with a strong red candle on the weekly chart.
Here is what analyst TechDev said about the current situation.
It’s amazing how the cycles are playing out so similarly. Macro level we’re on track to head to new all time high prices. Here is a chart showing the projected move of the entire crypto market capitalization. As you can see we could hit between $18 - $20 trillion at the peak of this cycle. This means the prices of both Bitcoin and Altcoins will rise :)
Most Bullish News From This Past Week
El Salvador government strikes deal with Bitfinex, Blockstream to issue $1 billion Bitcoin bond
Twitter enables Bitcoin tipping for Android users
TIME magazine to hold Ethereum on its balance sheet
Fidelity has expanded it’s Bitcoin custody service in Canada
Cryptocom buys NBA’s Los Angeles Lakers stadium naming rights for $700 Million in the largest crypto sponsorship to date.
Sotheby's auctions art in Ethereum for the 1st time
Square releases white-paper for a Bitcoin exchange
Metamask reaches 21 million monthly users
Gemini reaches $7.1 billion valuation and is raising $400 million
Hilary Clinton says crypto can disrupt the US dollar as the world’s reserve currency. This may seen bearish but it is bullish, the incumbents are scared and they are getting disrupted.
Interview Recaps
Charles Hoskinson - Cardano’s founder discusses the latest initiatives and what’s on the roadmap for Cardano.
Monica Long - RippleX GM talks about XRP adoption, building on the XRPL, funds and grants to help increase building on the XRPL, Ripple ODL adoption and more.
Dr. Saifedean Ammous - Economist and author talks about Bitcoin’s growth and impact globally. He also discusses his new book The Fiat Standard.
Interviews in the works
Hailey Lennon (Crypto Connect)
Bob Ras (Sologenic)
Alessio Quaglini (Hex Trust)
Senator Cynthia Lummis
Raoul Pal
David Schwartz (Ripple)
Asheesh Birla (Ripple)
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Crypto Taxes
Are you tracking your taxes for your Crypto trading? Be sure to do so, I personally use TaxBit to help me prepare my crypto taxes which I then share with my accountant. Visit TaxBit’s website to learn more.
-Tony
Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.
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