On Tuesday, The EU voted to NOT ban PoW.
However, the ‘NO’ vote did not create any meaningful Bitcoin price action.
Then, from 10 pm EST on Tuesday night till 11 pm, we witnessed a 5.4% Bitcoin price increase.
Supposedly, it was due to the FOMC (Federal Open Market Committee) meeting notes pre-release.
The next hour, between 11 pm EST and 12 am EST, right this massive swing up, we had a 4.2% price drop.
Another worthy news item from this past week was Ukraine legalizing virtual assets.
This catalyst could have produced yesterday’s 4% price increase.
On the week, Bitcoin oscillated between $48K and $52K CAD.
Two key support and resistance levels we’re looking at:
Support: $47K CAD
Resistance: $55K CAD
Other BITs and BUYtes:
ETH had an exciting week. Their final Proof-of-Stake test on Kiln testnet was successful. Now, that Proof-of-Stake is getting closer and closer, we’re re-sharing Ryan Allis’ ETH DCF breakdown.
AAVE was also up on the week. The possible catalyst for this move-up could be the launch of their V3 protocol.
LINK also had a solid week. The rally appears to have started after they announced a Spring Hackathon.
If you’re looking to trade the latest market moves, tap on the ‘Access Your Account’ button below.
Thanks for reading.
And, have a Happy Saint Patrick’s Day! 🍀
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Self-custody (or cold storing your crypto) provides complete control of your crypto via a personal private key.
This can leave you exposed to theft or loss (human error).
But, if now is the time to self-custody your crypto, or you just want to learn more…
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I hear two things are certain in our lives – Death and Taxes. Bitbuy can’t solve either.
But, we can potentially help make your 2022 tax situation a little clearer. Hence, why we created our Canadian Tax Guide for 2022.
So, give it a read when you have a minute.