Venture capitalists and investors are backing early stage Metaverse and Web3 projects as they flight from inflation-fatigued stocks and capitalize on better-priced investments.
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Bitcoin (BTC) settled into a volatile version of sideways action just as the number of total Bitcoin addresses hit 1 billion this week. The market cap for BTC fell below its realized cap (minted coins x current BTC price). The last two times this occurred was during market bottoms in December 2018 and March 2020.
Bitcoin's 20MA crossed over the 200MA, which could be bullish on the short term as BTC is trading in an ascending channel.
The next target could be the $21,600 resistance line while this could be invalitaded if BTC fails to break through $21k.
On the Bitcoin macro, we are far from a Golden Cross (when the 50 EMA crosses over the 200 EMA).
Currently, we are deep into a bear market territory. It'll either take serious upward price movement or time before we are out of it.
Overall altcoin markets were trending down until a minor Thursday evening spike. DeFi protocols that survived the 2022 shakeout dominated the gainers over 7 days with AAVE, UNI, COMP, CURVE DAO, and SUSHI out front.
Ethereum was up 12% over the last 24 hours as it seems to be heading towards a month-long resistance level around $1,300.
Looking at the Fibonacci Speed Retracement Fan, we can see that ETH is trying to break through the 0.618 line, which coincides with the horizontal support.
We took a deep dive into the Shiba Inu (SHIB) decentralized meme coin, discovering the interesting way it came to be, how Elon Musk and Vitalik Buterin may have affected its rise, and how the experimental project has evolved.
Read the complete Shiba Inu Coin Profile
Bitcoin (BTC) settled into a volatile version of sideways action just as the number of total Bitcoin addresses hit 1 billion this week. The market cap for BTC fell below its realized cap (minted coins x current BTC price). The last two times this occurred was during market bottoms in December 2018 and March 2020.
Bitcoin's 20MA crossed over the 200MA, which could be bullish on the short term as BTC is trading in an ascending channel.
The next target could be the $21,600 resistance line while this could be invalitaded if BTC fails to break through $21k.
On the Bitcoin macro, we are far from a Golden Cross (when the 50 EMA crosses over the 200 EMA).
Currently, we are deep into a bear market territory. It'll either take serious upward price movement or time before we are out of it.
Overall altcoin markets were trending down until a minor Thursday evening spike. DeFi protocols that survived the 2022 shakeout dominated the gainers over 7 days with AAVE, UNI, COMP, CURVE DAO, and SUSHI out front.
Ethereum was up 12% over the last 24 hours as it seems to be heading towards a month-long resistance level around $1,300.
Looking at the Fibonacci Speed Retracement Fan, we can see that ETH is trying to break through the 0.618 line, which coincides with the horizontal support.
We took a deep dive into the Shiba Inu (SHIB) decentralized meme coin, discovering the interesting way it came to be, how Elon Musk and Vitalik Buterin may have affected its rise, and how the experimental project has evolved.
Read the complete Shiba Inu Coin Profile
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Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
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