TruBit Crypto Weekly Digest (08/15 - 08/21)
Welcome to this week's digest from TruBit, covering August 15th to August 21st, 2023! We delve into the most significant happenings in the crypto world and offer our unique insights. We aim to keep you at the cutting edge of the crypto universe with the most up-to-date information. Stay tuned, and let's navigate the crypto world together.
📈 Last Week's Trending Tokens to Watch (08/15 -08/21)
7D Change (+3.67%)
7D Change (+0.96%)
7D Change (+0.62%)
7D Change (+0.62%)
💡Coin Insights (08/15 -08/21)
- Bitcoin Market Update: A Deep Dive into Recent Price Dynamics. Bitcoin, the flagship cryptocurrency, has recently experienced a price adjustment. Let's explore some factors contributing to this:
- Global Bond Yields Surge: A significant uptick in global bond yields might be exerting pressure on alternative assets like Bitcoin.
- The consistent dip in U.S. stocks, without a noticeable recovery, suggests a stronger market correction might be underway
- There are news that SpaceX has offloaded its Bitcoin assets. Such moves often shake the market's confidence
- The most hopeful news for the market could be the interest rate reduction next year.
- From technical analysis, Bitcoin's strong upward trend that started in January hasn't finished. After a few months of price corrections, Bitcoin might reach a new high. Looking at the patterns, Bitcoin's price increased for 6 months, then corrected for 2 months. We expect the lowest price in this correction to happen in September or October, and then it might start increasing again in the Q4 of this year.
- In the short term, Bitcoin's price has decreased. Without positive developments, it may not recover rapidly. In the upcoming weeks, consider gradually purchasing Bitcoin and Ethereum when their prices dip. Retain a portion of your investment and keep an eye on promising buying opportunities.
- For a short-term strategy, monitor whether Bitcoin remains near the 25,300 price point. If it drops below 25,000, the subsequent stable price might be around 23,400.
🔥 The Hot News in Crypto Market You Need To Know (08/15 -08/21)
- The central bank's rules will cover stable coins that are tied to the Singaporean dollar or any of the top 10 world currencies. If people want to issue these stable coins in Singapore, you'll need to meet specific standards about their value, funds, and how people can cash them out.
- London's Jacobi Asset Management has launched Europe's first-ever Bitcoin ETF on Euronext Amsterdam. This comes nearly two years after they got the green light. The ETF is called "Jacobi FT Wilshere Bitcoin ETF" and will use the ticker "BCOIN".
- Bitcoin's value in Argentina is the highest ever after a supporter of crypto won an unexpected victory in Sunday's presidential primary elections.
- The central bank of Colombia suggests having limits on how much digital currency people can hold and spend. The bank believes this will make the digital money safer. It can help protect people if hackers try to steal their money or mess with their transactions.
🌟 What to Expect
- TruBit X SPACE ID Twitter AMA will launch within the next two weeks. Join our Live AMA on TruBit's Twitter and SPACE ID Twitter, and let's chat about ID token, WEB 3, Staking, DAO, Governance, and .bnb/.arb Integration!
- Join TruBit Community to follow the news
- 09/19 The FOMC Meeting
- Following the July policy statement, Chairman Powell of the Federal Reserve hinted at the possibility of further interest rate increases after their September meeting.