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Things Are Turning Bullish!
JPMorgan, Elon Musk, Amazon & More
We’re seeing some bullish momentum building in the crypto market. Bitcoin is back over $34,000 as a result of multiple factors such as being oversold, the B word conference announcements from Elon Musk, JPMorgan crypto investment and more.
As you can see in the chart below we’re still in a bull market cycle, similar to past bull markets we had a run up and then corrected but there is still another run up left to new all time high prices.
image credit: misconfig_exe
Most Bullish News from the past week:
JPMorgan is now offering wealthy and retail clients crypto investment via Grayscale and Osprey’s various crypto funds. This is full capitulation from the largest US bank whose CEO Jamie Dimon once called Bitcoin a fraud and scam. (source)
Amazon is looking to add a digital currency and blockchain expert to its payments team, suggesting the company could be taking a more serious look at cryptocurrencies such as bitcoin. “You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities,” (source)
Elon Musk at the B Word conference stated that SpaceX and Telsa both own Bitcoin. he also mentioned that he holds Bitcoin, Ethereum, and Dogecoin and while he does pump the market he does not dump. (source)
$10 Billion asset manager, Stone Ridge Asset Management, the parent company of New York Digital Investment Group, or NYDIG, registers new Bitcoin fund with SEC. (source)
Attorney John Deaton discusses the Ripple XRP Lawsuit and former SEC official William Hinman’s upcoming deposition. We also review William Hinman’s 2018 speech on Ethereum not being a security.
Interviews confirmed for next week
Asheesh Birla (Ripple General Manager)
Robert Materazzi (CEO of Lukka)
Congressman Tom Emmer R-MN
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.