
All is quiet on the bitcoiern front: TL;DR Jan 9
š¢ Weekly TL;DR - Jan 9
- BTC and ETH rise steadily w/w
- Argentinaās new leading presidential candidate is pro-bitcoin
- Dust settles following layoffs/restructuring in big tech: Crypto and fintech, no exception.
š Moves
- Bitcoin (BTC) +3.1%
- Ether (ETH) +7.4%
š Market Overview
Bitcoin's (governmental, institutional, widespread) adoption---or that of any exponential new tech:
"Gradually, then suddenly." - Ernest Hemingway
Argentinaās leading Presidential candidateāan economist by trade Javier Mileiācame out a few evenings ago as pro-bitcoin. (In a country that has repeatedly had to turn to the IMF for assistance in resetting its economy--for cause of over a half dozen cases of hyperinflation since the 1970s), this may come as a very promising development for the Argentinian people.
Just last March 2022āas a condition of their most recent loan from the IMFāthe Argentine Senate, Congress and Central Bank were required to curtail Argentine citizens' access to crypto, thus effectively blocking off any safe-haven exit from the hyperinflating peso to those--most!--who could not afford to store their wealth in tangible goods like stocks and real-estate).
Javier Milei said of Bitcoin: āIt prevents politicians from robbing you through inflationā. Here, here! (...To renegotiating a more favourable deal for the Argentine people in 24-30 months.)
While the Bitcoin mining industry remains under duress, if the network hash rate is any indicator (high as it is); the world may be waking up to the inalienable properties of the worldās largest open computer network. Secular, uncensorable. And that to me sounds like a pretty solid start to 2023.
Have a great week friendsāhope youāre stackinā sats!
- Yours in the #hodl
š Bitcoin Technical Analysis
- Bitcoin has remained almost completely flat week over week
- The longer it stays at this price, the more solid the support.
- As coins continue to exchange hands at this price level (8 weeks and counting), more new (and old) market participants are solidified in their current (or new) positions.
Support and resistance levels remain largely the same going into 2023,
- Resistance levels: $24,500 $26,000
- Support levels: $22,000 $21,000
š» News
INDUSTRY:
- Bitcoin's mining industry is in survival mode. What's in the cards for 2023? ā The Block
- BTC price forms new support at $16.8K as Bitcoin lures whales ā Cointelegraph
LEGISLATIVE ENGAGEMENT:
- Fed: FTX Collapse Didnāt Pose Broader Market Risk to Financial System ā BlockWorks
- Rise of Argentinaās Bukele? Leading Pres. Candidate Preaches Bitcoin ā Bitcoinist
FUNDING:
- Funding Wrap: 2023ās First Crypto Startup Raises ā Blockworks
- Aptos-based multisig wallet Msafe raises $5 million led by Jump Crypto ā The Block
š Feature
Were you aware that you could set your Bitcoin Buys to Autopilot with the NDAX Recurring Purchases?
Itās true! This means you can step up your DCA game with minimal effort. Plus, setting up recurring purchases just got even more straightforward, as weāve added it in-app as well. And if youāre at all reluctant (as was this writer) to put your buy orders in the hands of someone else: Rest assured that Iāve been getting honest and consistent good order fills. (Even at market prices!)
Upon login, select Recurring Purchases from the drop-down menu when you select the main NDAX Logo button.
šļø Streaming
- Bitcoin is Optimism w/ HRF CSO Alex Gladstein - CoinDesk - The Breakdown w/ NLW
- Alex Epstein: A Talk on Energy Abundance, Human Flourishing and Bitcoin - Coin Stories w/ Natalie Brunell
- Nostr - Decentralized Social Media & Bitcoin w/ William Casarin - The Investors Podcast - Bitcoin Fundamentals w/ Preston Pysh
š° Reading
- For the US, Bitcoin is a National Security Opportunity, Not a Threat ā Bitcoin Magazine
- Fijiās New Pro-Bitcoin PM Ponders Legal Tender Bill: Report ā Bitcoin Magazine
š Events
- Jan 12: US CPI
- Jan 18: US PPI
- Jan 27: Bitcoin Futures Expiration
šø On Socials
In case you missed these⦠Be sure to follow us on Twitter for educational tidbits and news.
NDAXās own COO and Founding Member Tanim Rasul addressed the Canadian Parliamentary Committee on Industry and Technology:
- You can check out the short video here
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