123
Market Data Highlights
Bitcoins opens at $49K. It hits lowest at $47K and highest at $49K and stable around $48K ~ $49K. The average transaction fee is $2.61 which is a 13.88% increase from 08-23-21. Fear and Greed level is at 79.
Ethereum opens at $3.3K. It hits lowest at $3.1K and highest at $3.3K and stable around $3.2K. The average transaction fee is $17.74 which is a 43.83% increase from 08-23-21. Fear and Greed level is at 71.
Here are some highlights to support my analysis:
Bitcoin Value = $42k ~ $45k and my position is Long.
Ethereum Value = $2.6k ~ $3.0k and my position is Long.
Current News Summary:
Today’s sentimental news and comments:
Bullish News ??
Survey reveals that most Britishers are against the CBDC due to government seizes funds easier.
Bitcoin lightning network may make transaction fee almost free? If the technology does make transaction fees nearly zero, Bitcoin may become a legal tender sooner than expected.
Microstrategy bought another load of Bitcoin worth $177 million.
Chivo wallet is the one to support El Salvador Bitcoin transaction and ATM services.
CFTC or Commodity Futures Trading Commission has addressed and clarified that not ask whether a digital asset is a commodity or security but ask whether a futures contract or other derivatives product is involved. They dodge the yet most important question after all.
Defi is down but NTFs are up.
Bearish News ??
Further evidence showed that Ethereum will have a cap price ceiling in the future while mining expands with large quantities of token issues out. I wrote an article to discuss this point.
The House okays Infrastructure Bill. Crypto tax is coming along with regulations to Defi.
Future Trend ??
Visa into NFTs as they believe it will reshape the entertainment, sports, and other communities going forward.
Kraken donates $1.5M to fund Ethereum 2.0 as Ethereum 2.0 is more likely to be an ever large centralized node to function the Ethereum platform.
Ampleforth (AMPL) may figure out the way to stabilize price through not asset backing but coin supply. The key idea is not collateralization.
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You can reference my previous daily Bitcoin & Ethereum analysis here ????:
Bitcoin & Ethereum Valuation and Opinion 08-19-21??
Bitcoin & Ethereum Valuation and Opinion 08-20-21??
Bitcoin & Ethereum Valuation and Opinion 08-21-21??
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Doge Analysis 01-11-21??
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Disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational purposes.
