Introduction
Not that we want to get ahead of ourself but yes, seeing some bullish price action in the crypto markets feels good for a change. Bitcoin’s price jump has been painted on the wall for many weeks, only suppressed by tumbling stock markets and regulation FUD.
Market Watch
With prices having been in limbo for quite a few days, it’s easy to get lulled in and look away – but that’s exactly when the action happens! As we pointed out several times, Bitcoin tends to make its moves when the least amount of people expect it…
It’s refreshing to see crypto prices do well on a day when traditional markets are in red territory.
As confounding that it is that the many bearish September calls came to fruition, we can’t help but feel grateful that October announced itself with a nice pump.
Do you feel sorry for the millions in shorts being liquidated?
From an on-chain perspective, the outlook for the crypto markets looks bright. But don’t get caught up in the FOMO, there are still regulatory storms on the horizon, most likely leading to short-term market dislocations. Technically, a rejection from resistance and a visit to lower levels is still possible on shorter timeframes.
Will Clemente @WClementeIII
BTC floor has been set. Large bids across all major exchanges. BTC came within $1,300 of my on-chain floor model and is still $148,000 from my top model. Do we trade a few thousand $ lower? I couldn’t care less. The asymmetry of being long over the next few months is huge. https://t.co/vognaO0UFnRaoul Pal shares his macro outlook for Bitcoin, and let’s say… it’s bullish.
Let’s not get ahead of ourselves, but… gm ✊
While we don’t know yet where this Bitcoin move will take us, the playbook to make massive gains is clear: Positioning oneself in the right altcoins which will inevitably follow BTC…
We prepared you in the last days to position in the right plays – altcoins that only need stabilization of the markets to gain momentum… MATIC is one of them.
The US Is Not Going to Ban Crypto!
Has there been a catalyst for the impressive Bitcoin move today? Especially since the stock markets are still heading in the other direction? While we have pointed out an imminent supply squeeze and bullish on-chain metrics for a long time, there has been a major green flag at the regulatory front, easing the fears of many crypto investors:
At the same time, we see politicians step in and put a word in for crypto. Who would have imagined that a sitting US congressman would call for Bitcoin as the new gold standard?
Not just Republicans, also some Democrats have jumped on the crypto bandwagon.
As federal agencies struggle to agree on digital asset jurisdiction, state legislators are leading the way on cryptocurrency regulation, and Illinois state Representative Margaret Croke (D-12th district) is the latest example.
ETF Decision Delayed – Again
While not the decision we were hoping for, at least the SEC hasn’t rejected the Bitcoin ETF’s just yet. So, we can still be hopeful for an ETF approval later this year…
Banks Jumping into DeFi
In massive news that makes one forget the regulatory headwinds from the USA for a short time, the third-largest bank of France announced its foray into DeFi.
Turns out it was the future of France all along!
Terra x Akash
The recent Columbus-5 upgrade brings the Terra and Akash ecosystems, two favorites of ours, closer together.
Steve DeFazio @SteveDeFazio
@gregosuri Is this a good idea? - If UST really takes off, allow Akash fees to be paid in UST, and swap them on the back end into Akash to pay providers.For everyone who wants to explore the fast-expanding Terra ecosystem before the crowd jumps in, here are some early-stage projects to check out:
Love this space brother. Thank you! We appreciate the knowledge and this helps me confirm my thoughts... Legend!