"Quick decisions are unsafe decisions.
- Sophocles
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Happy Saturday Folks! Goodbye "Sad September" and hello Uptober? History says that October is better than September, fingers cross it applies to 2022. Last week Bitcoin was trading around $19,073.00 and as I type it's trading around $19,268.00. Let's recap the week shall we?
the price of Bitcoin closed at $19,222.67 and the sentiment appeared to lean more positive than negative. Analysts were mixed as Yusko and Poppe believed a big really was in the making. However, Vays and Merten both were seeing a big capitulation coming; possibly down to $13-14K. The most covered news of the day was California, New York, and other states taking action against Nexo.
Podcast of the Day:What Bitcoin Did: Can Bitcoin Fix the Political System? With Logan Bolinger
the price of Bitcoin closed at $19,110.55 and the sentiment continues in a positive way earlier in the day which then turned negative as the rally above $20K stalled and it pulled back. Analysts were all positive with Dan Morehead believing that Bitcoin will go up a ton but other projects will outperform; aka Altcoin Season. The most covered news of the day was Celsius CEO Alex Mashinsky resigning and FTX winning the auction for bankrupt Crypto lender Voyager.
Podcast of the Day:Unchained: How Will the Legal Case Against Do Kwon Play Out in South Korea
Wednesday the price of Bitcoin closed at $19,426.72 and the sentiment began to turn negative as the price of Bitcoin intraday continued to pull back. Analysts continues to be cautiously optimistic esp as we head into October; Credible predicting parabolic rally for Bitcoin. The most covered news of the day was Stanley Druckenmiller predicting potential Crypto "renaissance" if Central Bank faith is lost.
Podcast of the Day:Bitcoin Fundamentals - BTC097: Central Bank Digital Currencies Vs Bitcoin w/ Sam Callahan (Bitcoin Podcast)
Right over the hump on the price of Bitcoin closed at $19,573.05 and the sentiment leaned negative as Bitcoin continued to struggle under $20K. Analysts seems mixed with DonAlt calling for XRP rally and Pizzino saying Alts could crash up to 60% in the next 12 months. The most covered news of the day was USDC chain expansion being part of a "multichain" vision.
Podcast of the Day:Bitcoin Audible: Read_658 - Bitcoin Will Replace SWIFT Before VISA [Shinobi]
As the week came to a close on the price of Bitcoin closed at $19,431.79 and the sentiment leaned more positive as Bitcoin made a late day push higher back above $20K before losing it as the month closed. Traders indicated that $19K is the line in the sand, if Bitcoin can remain above it - happy days are here again and if not? Complete disaster. The most covered news of the day was MicroStrategy looking to hire software engineer for building Bitcoin Lightning Network infrastructure, Ripple securing another win, and BINANCE scoring regulatory approval in New Zealand.
Podcast of the Day:The Scoop: zkSync head of product: Ethereum learning to scale will be like 'coming out of Plato's cave'
So there ya have it folks, from $19,073.00 to $19,268.00 - basically didn't move right? As you can see the sentiment moves up and down as the price moves and if we zoom out, all is good right? $10B moved or is moving toward Digital Asset and projects with BlackRock launching a new ETF. All signs points toward continued adoption and lots of work is being done on the regulatory side. In a year from now things will look much different. Let's revisit then shall we? Enjoy your weekend!
