I hear you
3 min read

I hear you

Cryptic ball: good to know.

Yesterday's Congressional hearing went quite well. Curiously, even those who should be expecting such a positive outcome were particularly impressed - even "shocked" - with the level of knowledge and tone of engagement. This has been attributed to the industry's lobbying efforts in Washington and to the quality of the testimonies - with Sam Bankman-Fried's being particularly interesting.

But it's also natural that as this market matures, so does the understanding regulators have of it. After all, Bitcoin's whitepaper was published in 2008 and its blockchain launched on the third day of 2009. Initially, the world was taken by the cryptoasset storm, which flooded the imagination of people in every continent. Now, as the water level rose, there are few who aren't actively trying to navigate it.

Meanwhile, prices continue to fall since Monday's top, but bitcoin seems to be trying to bounce at $48k. If this plays out, refer to yesterday's higher low scenario. If not, expect BTC to continue the slow bleed explained Tuesday - which could drag down the rest of the market as traders will fear the $42k support won't hold. I disagree - although I believe such test of $42k is very likely this weekend. I just believe it would provide the perfect opportunity to trap the bears who opened short positions later than they should. But, as always, you should have a plan.

Chart art: ready to deploy.

Some fund managers I know are just closing their rounds and they hope the bear market starts shortly after their close. Why? So that builders can BUIDL in peace without the disturbance of daily price changes. Let's just hope we have some 3 to 6 months left!

Three things: I read you.

Tweet tip: it better be.

Guess this Christmas isn't going to be slow if Three Arrows Capital says so.

Meme moment: darts in the dark.

I hope our readers don't just throw darts in the dark.

FV Bank: meet us at CoinAgenda.

FV Bank's co-founder, Miles Paschini, participated in the Crypto Banking Panel discussion.

Get started: download the B21 Crypto app!

Subscribe to our newsletter
Follow us on Twitter @b21official
Follow us on Twitter
Join our Telegram group
Find us on Instagram
Watch us on Youtube
Legal Notice
Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of guidance in the report will lead to any particular outcome or result.