Bear hug
3 min read

Bear hug

Cryptic ball: put in.

Bitcoin is slightly up since yesterday, but just because it has pumped roughly 2% in the past hours. Overall, it seems it's forming a bullish pennant that should resolve this weekend, hopefully to the upside. Ether and some alts managed +5% gains - nothing too exciting unless one's really new to the space.

And, just like in the aftermath of July's $30k bottom, it seems meme projects are pumping the hardest, with the likes of SHIBA appreciating +10% and wrecking the brave (or dumb) bears who chose to go leverage short against the canine token. Again, nothing new in the cryptoshere. But there's a noteworthy point.

While I don't believe it's impacting the market, Vladimir Putin has just reversed course on the ban on crypto that Russia's central bank announced - to much fanfare - in January. Now, it seems that next week new legislation will be proposed that not only regulates crypto but also recognises it as a form of currency.

You know how I believe regulation helps advance this industry, so now it's key to see if the people of Russia will be able to safeguard their privacy rights and benefit from the power of decentralisation. Onwards and upwards!

Chart art: top up.

NFT trading volume isn't suffering from the past month's generalised fear in cryptoassets. All-time high soon? According to today's meme that's likely!

Three things: rocky two.

  • Chris Burniske is one of the authors I used to most recommend in this space, so it's always great to see him producing new content - in this case, sharing his thoughts on how to navigate the stormy 2022 ahead of us.

Tweet tip: pull out.

Overconfidence doesn't pay, at least in the metaverse.

Meme moment: all in.

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We are in the 2nd week of February, typically a bullish month, and BTC is already up 18%. Follow us on social media for more updates on all things crypto.

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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.