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I See Green Candles
Bullish Price Movements And News
If one photo could summarize how bullish the crypto market looks right now it’s this one.
10 straight green candle days! We can certainly expect a consolidation soon but we’ve found our upward momentum for the next bull run in this cycle. This is all happening despite the FUD from every angle...tax, regulatory, political etc.
Here is what on-chain analyst Will Clemente had to say.
Illiquid Supply Ratio has taken yet another leg up. Bitcoin "supply shock" is now at levels that previously priced Bitcoin at $53K.
As always, Bitcoin moves the market, as it continues to move upward the altcoins will follow. I expect new all time high prices for Bitcoin and altcoins by the end of the year.
Most Bullish News from the past week:
GoldenTree Asset Management, a $45 billion asset manager, is going to buy Bitcoin. (source)
Wealthfront, one of the largest robo-advisory platforms in the world with $25 billion in assets under management, is now offering clients crypto investment via Grayscale Bitcoin and Ethereum trust. (source)
One of Germany's largest asset managers, DekaBank, is considering investing in Bitcoin after a new law takes effect Monday, Bloomberg reports. It holds $403 billion in assets under management. (source)
State Street will offer crypto services to private-fund clients. State Street is the 2nd oldest bank in the US. (source)
Ripple’s Asheesh Birla sits down to discuss the recent launch of On Demand Liquidity (ODL) in Japan with SBI Remit and Coins. ph. He also discusses tokenization on the the XRP Ledger with features such as NFTs, CBDCs, Stablecoins and more. We touch on US crypto regulations, the SEC ripple lawsuit, Bitcoin mining, and the crypto market.
Interviews confirmed for next week
Congressman Tom Emmer R-MN
Robert Materazzi (CEO of Lukka)
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.
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.