BTC BOTTOM? END OF CRYPTO WINTER?
What Should We Expect For Crypto in 2023?
#BTC recently has been in extremely oversold RSI conditions. Relative Strength Index (RSI) is a technical indicator used in finance to measure the strength of a security’s price action. It compares the magnitude of recent gains to recent losses to determine overbought or oversold conditions in an asset.)
Historically, long-term $BTC investors who’d accumulated in these conditions have benefited from high Return On Investment in the many months that followed.
Current RSI below.
Question is when could this #BTC RSI Bear Market Bottom take place in this cycle? It took 1461 days for the 2018 Bear Market Bottom to form after the 2015 Bear Market Bottom . If the same symmetry repeats, the upcoming Bear Market Bottom is alredy in or could occur in Feb 2023.
BRAZIL & BTC
Brazil passed extensive crypto regulations into law, including allowing citizens to make payments in Bitcoin.
TOP NFT PROJECTS ARE LEAVING SOLANA
DeGods and y00ts (2 of the top NFT projects) just dropped a bomb…
They’re leaving Solana. That’s right, they’re packing their bags & moving to other blockchains.
This is big. DeGod’s and y00ts have been the top 2 NFT collections on Solana. So Polygon paid the creators DeLabs (creators of y00ts and DeGods) $3m to leave Solana and change chains. Over the last 30 days, they’ve done more sales volume than the top 4-10 NFT collections on Solana…
combined. It’s like if Superman & Batman left DC Comics.
y00ts is going to Polygon
Degods is going to Ethereum
This is a big blow for the Solana blockchain. It’s already been on the hot seat.
A $5 TRILLION METAVERSE IN 2030?
A report from McKinsey & Co, the massive consulting firm, estimates that the Metaverse could
create $5 trillion in value by 2030. The report emphasizes that in order for this to be possible, there
will need to be significant advancements in hardware and interoperability between developers.
- Coinbase to slash 20% of workforce or 950 employees
- January on pace to be the 2nd worst month for layoffs since layoffs began
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