Last Crypto TL;DR for 2022: Good Riddance. Welcome 2023!
📢 Weekly TL;DR - Jan 2
- Bitcoin and Eth prices remained stable and declined slightly
- NASDAQ Listed Argo Blockchain received a $100M capital injection from Mike Novogratz’s Galaxy Digital warding off bankruptcy in the wake of Core Scientific
- Italy Enacted 26% Capital Gains on Crypto as Turkey Forged Ahead with Digital Lira
- Bitcoin (BTC) -1.3%
- Ether (ETH) -1.5%
📊 Market Overview
Happy new year, dearest readers! I hope you had safe, warm and wonderful New Year’s celebrations with your families and loved ones. May this beautiful new year bring you untold joy, health, wealth, and formative new experiences!
- With much love and gratitude from the Swiss Alps of Rougemont/Gstaad.
Last week in crypto saw little action while markets took a breather after a most turbulent year… But large publicly listed Bitcoin Miner Argo Blockchain (NASDAQ: ARGO) agreed to sell one of its larger Texas mining operations to digital assets giant Galaxy Digital for $65M USD (with an additional $35M loan) to fend off an otherwise certain bankruptcy protection filing. (This much-needed cash injection will ostensibly allow the embattled miner to wait out the remainder of the bear market…)
And in case you missed it; a quick recap of The Top 16 stories of 2022 on the NDAX blog. Check it out and let us know which one you found most significant on your favourite social media channel!
In the meantime, we’ll be rolling up our sleeves over at NDAX to continue bringing you Canada’s industry-leading digital assets content, education, products and services… (Prepping for when markets wake up to the mind-altering reality that Bitcoin represents–after all, it’s during these darkest crypto-winters that the heavy lifting gets done.)
- Yours in the #hodl
📈 Bitcoin Technical Analysis
- Low holiday volume (and hence, low liquidity) may have been the cause of a slight week-over-week price decline for the leading digital asset…
- Bitcoin declined by just shy of a couple of percentage points as many traders took a break from markets for the holidays.
- Support and resistance levels remain the same going into 2023, but–
- If prices stay depressed while energy costs stay high, more institutional/mining failures could yet be in the cards, thus adding downward pressure to an already precarious industry sentiment.
- Resistance levels: $24,500 $26,000
- Support levels: $22,000 $21,000
- These Crypto Startups Nabbed Funding Rounds To Close Out 2022 – Blockworks
- China to Launch State-Backed Digital Asset Marketplace – Unchained
- Argo Blockchain Gets $100M Bailout From Galaxy Digital to Avoid Bankruptcy – Unchained
- Turkey Pushes Ahead With Digital Lira – Decrypt
- Italian Parliament Approves 26% Crypto-Gains Tax in 2023 Budget – Coindesk
Were you aware that you could set your Bitcoin Buys to Autopilot with the NDAX Recurring Purchases?
It’s true! This means you can step up your DCA game with minimal effort. Plus, setting up recurring purchases just got even more straightforward, as we’ve added it in-app as well. And if you’re at all reluctant (as was this writer) to put your buy orders in the hands of someone else: Rest assured that I’ve 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.
- Muneeb Ali on the Future of Bitcoin Building - CoinDesk - The Breakdown w/ NLW
- Danielle DiMartino Booth: New Fed Rate Regime? What If Nothing Systemic Breaks to Force Fed Pivot - Coin Stories w/ Natalie Brunell
- JAPANESE CREDIT MARKETS, BITCOIN, & NOSTR W/ JAMES LAVISH - The Investors Podcast - Bitcoin Fundamentals w/ Preston Pysh
- Fiji’s New Pro-Bitcoin PM Ponders Legal Tender Bill: Report – Bitcoin Magazine
- Why A Bitcoin Ban in the EU Is Likely… And Stupid – Bitcoin Magazine
📸 On Socials
In case you missed these… Be sure to follow us on Twitter for educational tidbits and news.
This week NDAX’s own COO and Founding Member Tanim Rasul addressed the Canadian Parliamentary Committee on Industry and Technology:
- You can check out the short video here
Alright GANG: As you know... For buying bitcoin I recommend NDAX.
- Largest platform in Canada by volume (i.e. deep liquidity and paper-thin spreads)
- 0.2% trade commission across the board. No hidden fees/markups.
- Intuitive UI (+ advanced orders/ technical tools for traders)
IMHO it's the safest, most transparent and least expensive marketplace in Canada for bitcoin. Plus, NDAX is the only crypto trading platform in Canada that is Soc 2 Type 2 compliant... (And this--publicly audited by a reputable Canadian accounting firm-- for several years in a row).
Deposits are free, and receive $10 when you fund your account with $100CAD+ Sign up today.
Disclaimer: This email is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.