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BTC Facing Critical Decision Ahead of a New Week (Bitcoin Price Analysis)

Currently, the price is consolidating inside a crucial demand zone. However, considering the current global markets’ sentiment and recent price action, it’s too early to label the present region as the bottom.

Technical Analysis

Technical Analysis By Shayan

The Daily Chart

Despite the recent equilibrium in the $29-30K range, the price might simply be forming a mid-downtrend consolidation pattern before another leg to the downside.

On the other hand, the daily RSI attempts to break above a mid-term descending trendline. If this plays out, a relief correction could take place in the short term. The first significant supply zone, in any upward movement, would be the $37-40K range (on the daily timeframe).

The 4-Hour Chart

On the lower timeframes (LTF), Bitcoin is forming a wedge pattern and will decide on its next direction upon breaking out of the wedge.

If the wedge gets broken down, a bearish expansion phase will be the most likely scenario for the following few weeks. On the other hand, a bullish breakout might signal a reversal, pushing Bitcoin’s price to the $34K critical resistance level.

Furthermore, on the 4-hour timeframe, the RSI has reached its resistance trendline and is struggling to break it. The reversal scenario will be imminent if this breakout occurs.

Onchain Analysis

Onchain Analysis By Shayan

The following chart shows the price of Bitcoin and the percentage of UTXOs that were last active over a year ago.

As can be seen below, the percentage of coins that have been dormant for more than a year has just reached a new all-time high. This indicates that long-term investors have been careless about the previous weeks’ price fluctuations and continue holding their bitcoin.

This behavior indicates on a possible supply shock; however, demand must enter the market in order to increase the chance for a bullish reversal.

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Swiss Luxury Watchmaker Tag Heuer Accepts Bitcoin, Shiba Inu, Stablecoin Payments in the US

LVMH-owned Swiss luxury brand Tag Heuer announced earlier this week that it will accept a total of twelve major cryptocurrencies plus five stablecoins as payment options on its US website. The globally renowned watchmaker had previously revealed that it would soon allow digital currency payments on all websites.

An Early Push into Web3

Tag Heuer’s latest adoption of digital currencies came into reality by collaborating with the payment service provider BitPay. It made it possible that users could choose major digital currencies, like Bitcoin, Ethereum, stabelcoins, and more, to pay for luxury products.

The new payment route accepts Exodus Wallet, Ledger Wallet, and many other crypto wallets and allows up to $10,000 per transaction with no requirements on minimal spending.

Tag Heuer CEO Frédéric Arnault said the company had paid attention to Bitcoin since its birth and that the recent ups and downs of the crypto market did not change its view of digital currencies as a transformative technology. He touted that the announcement was just the beginning of the giant’s push into Web3:

“Tag Heuer would adopt what promises to be a globally integrated technology in the near future despite the fluctuations – one that will deeply transform our industry and beyond…This new crypto payment feature is just the beginning of many exciting projects for Tag Heuer in the Web3 universes.”

It’s worth noting that Tag Heuer’s adoption of cryptocurrencies should not come as a surprise since Arnault, son of billionaire LVMH chairman Bernard Arnault, is known for his favorable opinions on NFTs and Web3. The 27-years-old Tag Heuer boss personally owns NFT collections like Clone X PFP by Rtfkt through a collaboration with Takashi Murakami and an Invisible Friends by Markus Magnusson.

Luxury Fashion Industry Embraces Crypto

Italian high-end luxury fashion house Gucci announced earlier that it will accept digital currencies in a selection of US stores this month. The CEO said the pilot program was “a natural evolution for those customers who would like to have this option available to them.”

Though Tag Heuer does not accept digital currencies in its physical stores yet, the company noted that this option might arrive in the future, but it isn’t a priority for now.

Due to the exponential growth of NFTs in the past years, well-known luxury brands find stepping into the field as a critical strategy for their development. In February, Gucci developed a virtual concept store, dubbed “Gucci Vault,” for Gucci-themed NFTs on the Sandbox, and it was seen as its foray into the Metaverse.

Featured Image Courtesy of Loop-CN

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Market Watch: Bitcoin Below $30K, About to Close 8 Consecutive Week in Red

Despite challenging $30,000 yesterday at one point, bitcoin was unable to overcome it and remains stuck below that line. Most altcoins are quite calm on a daily scale, with a minor increase from BNB and a more substantial jump from NEAR Protocol.

Bitcoin Stands Still Below $30K

Last week was a highly emotional and fluctuating roller-coaster in which BTC slumped by $15,000 at one point and bottomed at $25,300. This week turned out to be calmer, but the asset is on the doorsteps of yet another weekly red candle.

Back on May 16, the cryptocurrency spiked to a multi-day high of over $31,000. Despite failing there at first, it took another swing the next day but was rejected once more.

The retracement pushed it south to below $29,000, but then the bulls stepped up once more and drove it upwards by $2,000. Yet, a familiar scenario followed, and BTC found itself dipping to $28,750 once again.

Since then, the asset has remained stuck below $30,000 despite recovering several hundred dollars. As such, its market cap sits still at $560 billion, and its dominance over the alts is at 44.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

BNB and NEAR Lead the Race

The altcoins have remained untypically calm today, with little-to-no substantial movements from most. Ethereum lost the $2,000 mark yesterday and sits below it as of now as well.

Ripple and Avalanche are slightly in the red, while Solana, Cardano, Polkadot, and Dogecoin have painted minor increases.

Binance Coin has gained the most from the larger-cap alts with a 3% jump. Consequently, BNB sits at a multi-day high of $315.

NEAR Protocol is up by 5.5% on a daily scale and has reclaimed $6. Stellar, Theta Fuel, and The Sandbox are also in the green.

Somewhat expectedly, the crypto market cap is relatively calm as well and stands at $1.260 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Bitcoin’s Pizza 12th Anniversary: 2 Pizzas for 10,000 BTC

On May 22, the cryptocurrency community celebrates international Bitcoin Pizza Day. Less than two years after Satoshi Nakamoto published the nine-page Bitcoin whitepaper, Laszlo Hanyecz legitimized the use of cryptocurrency with the purchase of two pizzas for 10,000 BTC.

Bitcoin Pizza Day

There are thousands of cryptocurrencies, but Bitcoin, even to this day, remains an undeniably ingenious manifestation of blockchain technology. From modest beginnings to a trillion-dollar market cap, Bitcoin has stood the test of time. Laszlo Hanyecz was indeed one of the early contributors responsible for what many consider a fundamental marketing masterpiece for Bitcoin adoption.

In the initial days, there weren’t any reliable venues where Bitcoin trades can be conducted. Instead, BTC was traded via direct communication through discussion boards and Internet Relay Chat rooms. This was the time when the cryptocurrency, helmed as an experimental technology, was worth only a few cents.

The Florida-based programmer, Hanyecz, went on to become the first person to use Bitcoin in a commercial transaction after paying 10,000 BTC for two Papa John’s pizzas on May 22, 2010. At the time of purchase, Bitcoin was worth $41. Today, 10,000 BTC would today cost around $300 million.

Beyond Pizza Purchases

Laszlo Hanyecz is more than just “that guy” who bought Pizzas with 10,000 BTC that the internet loves to sensationalize. In honor of Bitcoin Pizza Day, let’s look into his groundbreaking contributions beyond the pizza purchase.

Apart from fixing many vulnerabilities during the early stages of the network, Hanyecz was also the first developer to release the Bitcoin code for Mac OS.

He also transformed the Bitcoin mining landscape. Much before the onset of application-specific integrated chips (ASICs), Bitcoin was being mined using CPU.

The transition to GPU mining didn’t happen until Hanyecz developed a mining code that enabled miners to mine BTC using their graphics cards [GPUs]. At that time, even Satoshi Nakamoto, who had frequently exchanged several messages with him, thought that introducing GPU mining was too advanced for Bitcoin’s development.

Bitcoin has managed to capture of imagination of many industry stalwarts, but it’s time the community recognizes the commitment and efforts of the many Bitcoin OGs, including Hanyecz, who helped the digital asset become what it is today.

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Record Inflation Rates Spread Worldwide, Could Crypto Ease Some of the Pain? (Op-ed)

The condition of the global economy seems to be in a state of knockdown. The years of financial boom after the crisis in 2008 ended with the outbreak of the COVID-19 pandemic at the beginning of 2020. Social distancing measures and “stay-at-home” rules crippled production to a serious extent, while numerous central banks took the decision to print colossal amounts of fiat currencies in an attempt to patch economic holes.

Two years later, the move (combined with the Russia-Ukraine war and its financial consequences, among other economic distress, such as supply chain issues, soaring demand, and production costs) caused inflation rates to spike in many countries. In March, the inflation in Turkey hit a year-over-year record high of 61.1%. Nations like the US and the UK also suffered severely.

When the inflation rates were galloping that much during the 80s, most people invested their depreciating fiat currencies into something that could keep its value in the future, such as real estate or gold. Nowadays, though, we have cryptocurrencies, and some residents of the affected countries already seem interested in diversifying with the asset class.

Leading Economies Take a Major Inflation Punch

When observing the financial crisis worldwide, it is worth starting with the strongest economy – the United States of America. In April this year, the Consumer Price Index (CPI) clocked in at 8.5%, a record high for the last 40 years.

The reasons behind the negative statistics could be the Federal Reserve’s decision to print trillions of dollars during the coronavirus pandemic and the soaring electricity and gas prices due to the military conflict between Russia and Ukraine.

But it’s not all that simple, as the issues started well before the war in Europe. Supply chain problems were already harming the local (and global) economy and were only exacerbated in the past few months. Raw materials and labor are harder to find, leading to fewer products made and lower inventories, while the demand has remained the same or maybe even increased.

The effects are more than visible. And while transport, shelter, food, and all other costs soar daily, people’s salaries take time to reach the necessary level to cope with the turbulence. As such, many individuals started looking for solutions, and those who had the experience and financial capabilities distributed part of their wealth into precious metals, properties, bonds, stocks, and digital assets.

Numerous financial experts and crypto proponents describe bitcoin as the digital version of gold and a successful hedge against inflation. Paul Tudor Jones, Ray Dalio, and Jordan Peterson are some examples. The narrative that BTC could serve as an appropriate anti-inflation tool comes from its limited supply (only 21 million coins ever to exist), accessibility, and decentralization (it is not printed or controlled by central banks).

The accessibility feature is particularly interesting as some of the aforementioned assets typically regarded as safe havens are not as easy to access as BTC. All users have to do to get on the bitcoin blockchain is access to the Internet, and, if they choose to go through centralized exchanges, they can create accounts and be verified rather quickly. Investors could also purchase very small quantities of BTC (they don’t need to buy a whole one).

Weighing in on the matter, bitcoin bull Michael Saylor recently argued that the inflation rate in the US is actually higher than what authorities announced, advising people to seek shelter in the primary digital asset.

The next country where inflation reached a 40-year peak is the United Kingdom. Apart from the reasons mentioned above, the local crisis was fueled by the nation’s withdrawal from the European Union, a move known as Brexit. Experts expect that it is likely to increase the cost of living in the UK due to its interrupted financial connections with the rest of Europe.

A recent Coinbase report revealed that crypto adoption in the UK is on the rise as 33% of Britons have already dived into the asset class. Bitcoin and ether are the most commonly owned, while Dogecoin and Binance Coin round up the top 4.

Record Inflation Reigns in Other Countries

In April, the largest country by landmass in South America – Brazil – marked the steepest rise in the inflation rate for a single month when the consumer price index IPCA rose from 11.04% in March to 12.1% 30 days later.

In light of the financial turbulence, according to Gemini’s survey, Brazilians are the global leader in crypto adoption, as 41% of the participants admitted owning bitcoin or altcoins.

The inflation rate in Nigeria is also heading north each month, and currently, it is over 16%. Interestingly, KuCoin estimated that one of the financial hubs in Africa has over 33 million crypto investors (35% of those aged 18 to 60). Apart from inflation fears, a huge proportion of Nigerians distribute their wealth into the cryptocurrency market because they have limited access to financial services.

Despite the negative trend in all these countries, the inflationary crisis appears to be even worse in Turkey. At the end of last year, the country’s national fiat currency – the Turkish lira – lost a significant chunk of its value against the American dollar. Many blamed President Erdogan, whose controversial policies might have led to the sharp drop.

In March this year, the inflation rate in Turkey surpassed 60% (a year-over-year). Gold remains the most important and widely employed investment instrument in the country, but there could be an issue with this as the authoritative government urged the population to turn over its precious metal holdings to help support the economy.

At the same time, locals are gradually shifting their focus toward bitcoin and even Tether, which, since it’s pegged 1:1 with the USD, allows people to purchase the closest available option of the greenback but on the blockchain.

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Weekend Watch: BTC Rejected at $30K, LUNA and UST Dump Another 20%

After reaching and briefly exceeding $30,000 yesterday, bitcoin was rejected and dropped by more than a grand. Most altcoins are also slightly in the red today, with ETH struggling beneath $2,000 and SOL down to $50. LUNA and UST continue to lose value.

Bitcoin Rejected at $30K

Ever since last week’s massacre, bitcoin has been unable to decisively overcome the coveted $30,000 level. In the past several days, it made numerous attempts but was halted in its tracks after each.

On May 16 and 17, BTC even spiked to $31,000 but was stopped on both occasions and fell back down to a familiar level. On May 19, the cryptocurrency dropped below $29,000, where the bulls stepped up and didn’t allow any further declines.

Just the opposite, bitcoin went on the offensive and jumped by $2,000 in a day to a daily high of $30,750 yesterday. However, the generally bearish market state resulted in another rejection, and BTC dumped by $2,000 in hours.

After bouncing off at $28,750 (on Bitstamp), bitcoin jumped above $29,000, where it’s currently situated as well. As such, its market cap has declined slightly to $560 billion, and the dominance over the alts is at 44.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Below $2K, UST, LUNA Keep Plunging

The alternative coins have largely mimicked BTC’s performance as of late, and the past 24 hours brought some minor declines again.

Ethereum traded above $2,000 yesterday, but a 2.5% decrease has driven the second-largest cryptocurrency to just under that level as of now.

Binance Coin sustains above $300, and Cardano is north of $0.50 after insignificant daily retracements. In contrast, RIpple, Solana, and TRON have lost more value. Polkadot, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.

The never-ending drama surrounding Terra‘s two native cryptocurrencies continues, as both LUNA and UST have dropped by another 20% in the past 24 hours.

Ultimately, the crypto market cap is down to $1.250 trillion after touching $1.3 trillion yesterday.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Coinbase CPO and COO Reveal Plans to Combat Unfavorable Market Conditions

The recent crash of the cryptocurrency market seems to have affected Coinbase. The leading digital asset platform will reportedly stop hiring employees for two weeks, freeze some business projects, and cut down its spending on Amazon Web Services.

Coinbase Temporarily Hits the Brakes

The past several weeks and months didn’t go well for the cryptocurrency market, with declining prices across all charts, and this harmed some of the largest companies in the industry. One of them was Coinbase, which reported Q1 2022 losses in excess of $400 million.

Somewhat expectedly, these developments led to a substantial change of direction for the largest US-based exchange, which said recently that it had to slow down on new hirings.

According to a report by The Information, the company has indeed followed through on this and will stop employing new staff for the next 14 days. The exchange will also halt certain business endeavors and reduce its spending on Amazon Web Services.

“This slow down will also force us to be more rigorous in our prioritization. We’re in a strong position — we have a solid balance sheet, and we’ve been through several market downturns before, and we’ve emerged stronger every time,” said Emilie Choi in a letter obtained by The Information – President and COO at Coinbase.

The firm also intends to compensate its employees by giving them stock grants. Last year, Coinbase started trading on Nasdaq, becoming the first major exchange to have its shares publicly traded. Upon launch, COIN traded at nearly $400, while currently, it hovers around $67.

The slowing hiring spree goes against the company’s ambitions to triple the team size. During Q1 2022, Coinbase hired 1,200 employees, bringing the total number to over 5,000. By the looks of it, the future condition of the crypto market will play a vital role in how the expansion will develop throughout the year.

CPO’s Statement on the Matter

Surojit Chatterjee – Chief Product Officer at Coinbase – also weighed in on the company’s plans for the short-term future. The executive tweeted that the exchange will direct its attention to “critical revenue-generating products.” Such offerings include retail and institutional services, as well as staking.

The executive further disclosed that Coinbase will strengthen its team’s discipline and look for enhanced efficiency:

“Lastly, I called on our teams to: rigorously prioritize core initiatives for highest impact, improve efficiencies, and ensure all our projects are set up for long-term success.”

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Another Heart Changed? Former Crypto Skeptic Jim Rogers Wishes He Bought Bitcoin at $1

The American investor and Co-Founder of Soros Fund Management – Jim Rogers – said he regrets not buying bitcoin more than a decade ago when its USD valuation stood between $1 and $5. Interestingly, in 2020 he argued that investing in cryptocurrencies is basically gambling, predicting that BTC’s price will sooner or later fall to zero.

Optimism About Bitcoin and Not CBDCs

In a recent interview for the Economic Times, Jim Rogers envisioned that the future financial system will have “serious problems” sometime in the next ten years. As such, he vowed to purchase gold and silver once he saw them trading at sensible prices.

The investor also touched upon bitcoin, which according to many experts, could serve as an inflation hedge and an appropriate investment tool similar to precious metals. While Rogers admitted that he doesn’t own any BTC, he regretted not accumulating some portions years back when the asset was worth $1.

Rogers also forecasted that the cryptocurrency could play a vital role in the future monetary network and bashed central bank digital currencies. CBDCs will have an entirely different purpose and will be used by central banks and governments to monitor people’s transactions, he noted:

“So I have optimism about the future of crypto money but not government crypto money… Governments do not like competition; they like to keep their monopoly.”

Jim Rogers. Source: MarketWatch
Jim Rogers, Source: MarketWatch

Not so Supportive in the Past

It is worth noting that Rogers’ previous stance on bitcoin was not that positive. Nearly two years ago, he suggested that distributing wealth into the crypto market is “just gambling,” while BTC is overvalued and will eventually disappear:

“Cryptocurrencies didn’t even exist a few years ago, but in the blink of an eye, they became 100 and 1,000 times more valuable. This is a clear bubble, and I don’t know the right price.”

His negative opinion matched the one from November 2017 when he said that bitcoin “looks and smells like all the bubbles I have seen throughout history.”

Shifting from the crypto critics’ corner to the proponents’ one happens quite frequently in the industry. A good example is the billionaire investor and owner of the Dallas Mavericks – Mark Cuban. In the past, he claimed that bitcoin has less real-life usage than a banana, while recently, he has turned into a keen supporter. Last year, he described it as a financial religion and a better investment tool than gold.

Shark Tank’s Kevin O’Leary also fits this bill. In 2019, the Canadian called bitcoin a “useless currency” and “garbage.” Last year, though, he made a U-turn investing 3% of its portfolio into it. In April, he opined that BTC has emerged as a store of value like gold, and its valuation will never go to zero.

Featured Image Courtesy of Yahoo

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Bitcoin Will Go Into the Millions, Predicts MicroStrategy’s Michael Saylor

The frantic price action in the cryptocurrency market does not seem to faze the uber-bullish billionaire CEO of tech firm MicroStrategy. Michael Saylor has yet another bold prediction for Bitcoin, even as his favorite cryptocurrency struggles to hold on to the $30,000-mark.

The exec, who started to build up his Bitcoin reserve in 2020, reiterated his stance that he is in for the long-term, and his strategy is still the same – to buy and hold the world’s largest cryptocurrency.

Michael Saylor’s Bold Prediction

Owing to countless Bitcoin purchases, the Saylor-led business intelligence firm, MicroStrategy, is still the largest corporate holder of the cryptocurrency, with 129,218 BTC. Its enormous BTC position is currently slightly in red, sitting at approximately $70 million unrealized loss at the time of this writing.

However, there is no shaking Saylor’s confidence, who assured that there is no price target at which MicroStrategy will begin liquidating its BTC holdings. Even as the market-wide meltdown evaporated trillions of value, the leading Bitcoin maximalist and his company is patiently holding firm.

During an interview with Yahoo Finance Live, Saylor was quoted saying,

“There’s no price target. I expect we’ll be buying bitcoin at the local top forever. And I expect Bitcoin is going to go into the millions. So we’re very patient. We think it’s the future of money.”

Bitcoin – Future of Money?

Terra and UST’s destructive downward spiral was a huge blow that further cracked investor confidence. According to Saylor, this event will spur efforts to regulate stablecoins and security tokens.

The executive of the Nasdaq-listed software company also believes this drawdown and the subsequent regulation will, in fact, be “good for the industry.” Ultimately, when the dust settles, people will realize that Bitcoin is superior to the thousands of existing crypto-assets, argued the proponent.

“Once people figure out why bitcoin is superior to everything else, then the institutions are going to come in with large sums of money, and we’re not going to have to struggle through this massive explanation of why we’re different than 19,000 other crypto tokens.”

The MicroStrategy exec also affirmed that Bitcoin is the future of money, but to scale up to its ability to achieve billions and billions of transactions, it needs to have an “ethically, economically, and technically sound” base layer and second layer like Lightning Network.

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Bitcoin Correlation to Wall Street Persists, Market Calms Down Following Terra Demise: This Week’s Crypto Recap

In the wake of Terra’s devastating collapse, the cryptocurrency market is taking a shot at recovery. In the past seven days, the total capitalization is up to $1.350 trillion, gaining roughly around $70 billion. Most cryptocurrencies trade well in the green, so let’s unpack.

Starting with Bitcoin, the cryptocurrency seems rangebound between $28K and $30K. At the time of this writing, it trades slightly above the latter on shaky volume where buyers appear indecisive. Bulls attempted a more convincing attempt to push the price forward and even brought it above $31K. Unfortunately, their push was for not, as sellers interrupted the advance and pushed BTC back towards $29K.

The price action of Bitcoin and of most altcoins, for that matter, can be categorized as an unfavorable chop where a direction is yet to be convincingly determined.

Speaking of altcoins, most of the top one’s trade will in the green. Ethereum is up 3.8% over the past seven days, and BNB gained 16.4% – the same as Solana. The largest weekly gainer seems to be Decentraland’s MANA, that’s up a whopping 56%, followed by KuCoin’s native token – KCS (up 43%). On the other end of the spectrum, we have LUNA and UST (not surprisingly) – down 88% and 81%, respectively.

Elsewhere, Wall Street also saw a week full of tumultuous and unconvincing price action where major indices shed some value. The S&P 500 is down 2.55% since Monday, while the DJI is down 2.69%. Correlation between traditional markets and crypto remains at multi-month highs, which indicates that the relatively new industry continues to be completely unable to decouple.

It’s been a calmer week compared to the last one, but it’s undoubtedly very exciting to see what the next seven days have in store.

Market Data

Market Cap: $1,341B | 24H Vol: $88B | BTC Dominance: 42.8%

BTC: $30,151 (+3.5%) | ETH: $2,029 (+3.2%) | ADA: $0.52 (+11.2%)

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This Week’s Crypto Headlines You Can’t Miss

First Time in History: Bitcoin Closes in Red 7 Consecutive Weeks. For the first time ever, Bitcoin’s price closed seven consecutive weeks in the red. This also pushed the overall market sentiment into extreme fear. In fact, the metric dropped to a low that we hadn’t seen since the COVID crash in March 2020.

Global Watchdogs to Regulate Stablecoins Following TerraUSD (UST) Fiasco. The sudden collapse of the entire ecosystem of the Terra protocol wreaked havoc on the broader cryptocurrency market. This, in turn, caused global regulators to consider taking steps to regulate stablecoins.

The High Bitcoin and Ethereum Correlation With Wall Street Continues. The decline within the cryptocurrency field in recent weeks hasn’t been an isolated event – in fact, it followed the broader stock market. Data shows that the correlation between the two is currently at a multi-month high.

SEC Chair Predicts Other Cryptocurrencies Will Mimic Terra’s Downfall and Harm Investors. The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – thinks that there might be more cryptocurrencies like LUNA that will collapse in the near future. This would, in turn, harm more investors the way many people were burned throughout the Terra fiasco.

FTX US Launches Stock Trading for Select Users. One of the leading cryptocurrency exchanges – FTX – revealed its latest expansion intentions. The company aims to allow users to trade stocks aside from just cryptocurrencies, and they’ve already launched the service, which is only available to select traders.

Bitcoin is the Internet’s Only Money, Jack Dorsey Says. The former CEO of Twitter and current chief of financial services company – Block – Jack Dorsey, said that Bitcoin is the only money for the internet. The tech mogul and multi-billionaire has long been a BTC bull, and his latest comments further cement his position.

Charts

This week we have a chart analysis of Ethereum, Ripple, Cardano, Solana, and Polkadot – click here for the full price analysis.