Crypto Asset News Update!
A lovely warm spring day in paradise & we have news for you, so…
1) It’s here! Cardano’s Smart Contracts went live today! Long time coming & hugely bullish news, however the current price is a classic case of “buy the rumour & sell the news” as it slides 5% in the last 8hrs to $2.46 USD. But be patient folks, Rome wasn’t built in a day!
2) VISA CEO, AL Kelly is very optimistic about the future of Crypto & is aiming to have his company right in the middle of the action! He also said he is smart enough to buy into Bitcoin NOW!
3) The great state of Texas has not only amended two laws to ensure Crypto is recognised under the states commercial laws but it is going one step further by looking to amend Bitcoin into the state constitution! Holy crap! That is HUGE news!!! I imagine Florida would be hot their there heals!
4) Solana has taken a hammering since its ATH of $214 4 days ago, bottoming out at $155 4pm today, settled to $162 USD at time of writing.
5) Everywhere you look the on ramps & off ramps into the exciting world of Crypto continue to be built with the UK Post Office announcing you can buy Bitcoin through them!! WOWZERS!!! This is incredible! That means people like ya mother can buy BTC! Every day folks, more main stream adoption!!!
6) South Korea has asked their 60 exchanges to register with the FSC, Financial Services Commission by the end of September & if not face closure. They are told it’s to comply with anti-money laundering & they’ll need to register with local banks & set up real-name accounts for their customers. 40 of the 60 have yet to register with some suggesting the worst case scenario. Sounds a bit scary but struggle to see this as a long term problem, most will be more than happy to have the entire space legitimised at the same level of Fiat. What is obvious is that it is here to stay!
7) The market is taking a hammering as I write…
BTC @ $44,700 13.5% down for the week
ETH @ $3217 18.6% down for the week
ADA @ $2.38 17.85% down for the week
SOL @ $154.68 6% UP for the week despite 15.5% down for the day
XRP @ $1.05 20% down for the week
DOT @ $34.05 down just 1.13% for the week DOGE @ $0.23 down 24% for the week
LUNA @ $35.65 UP 9.64% for the week
UNI @ $21.99 down 26.8% for the week
LINK @ $26.22 down 23.9% for the week
MATIC @ $1.24 down 26.85% for the week
VET @ $0.1125 down 26.20% for the week
Grim reading for many positions but awesome if you are a long term hodler looking to buy into some of the top positions at a discount. But, have we more pain to come??? We could briefly dip into the high $30k range, Dun dun dun!!! At times like these it’s good to listen to Michael Saylor
7) The more celebrity endorsements the better! Tom Brady & his supermodel wife are fronting a $20 million advert for the exchange FTX. This is super bullish folks! We must remind ourselves how new we are to this space! I had a customer on the phone today asking about payment options, he asked if we had Afterpay which I replied “yes we do, we also accept Bitcoin & 12 other Cryptocurrencies”….he was obviously perplexed as he replied “can I get Interest free on Bitcoin” lol. So yea lots have absolutely no idea what all this is so when they start seeing someone they know & like on TV getting into Crypto & encouraging them, it’s game!! If you are reading this & you are about to invest or have plenty of skin in the game already then congrats for being so early!
8) The Chief Investment Officer (CIO) of Blackrock, Rick Rieder is super bullish on Bitcoin. He loves the fact it’s volatile with massive upside potential! Blackrock managed $9.5 Trillion & I don’t trust them as far as I can throw them! This is one of the manipulative whales so if he is bullish in the main stream media then some might get suspicious of that! And if you are one of them, you could well be right, another dip is potentially on the way.
9) More bullish main street adoption, this time one of the biggest retailers in Mexico, Elektra Group is hinting, via it’s Twitter account that they plan to use the Lightening Network to accept Bitcoin as payment through it’s businesses. Just to give you idea of how big these guys are, they sell 7 out of every 10 motorcycles in the entire country, 1 in 4 TV’s & 1 in 5 Refrigerators since 2015! He also mentioned all store could have BTC ATM’s! However the finance minister piped up & threw cold water on the idea. No doubt the Mexican way of doing business is the same as it is across the northern border, cross my palms with silver before favourable laws are passed!
10) Vietnam is experiencing a Crypto mining boom with sales tripling in recent times as the price of BTC climbed out of the $30k range. It’s seen as an excellent investment opportunity which is now putting pressure on hardware prices!
11) Scams, they are everywhere! Ignore anyone in the chat section of ANY site including right here! There are lots of scammers posting nonsense scams & will sometimes use our logo’s so look like this page! And under no circumstances will this page EVER ask you for money or private message you in order to invest! This page is a media outlet, we don’t offer financial advice & will NOT EVER ask for money. Stick to the basic rules of buy only from a trusted exchange, not sure which ones, just ask!