Monday Market Report | 19 Dec - 25 Dec, 2022
As we reach the end of the holiday season of one of the most challenging years in recent memory, we wish you all the joy, good health and cheer we can muster.
With gratitude and hope for a brighter 2023 and ever yours in the #Hodl, from everyone at your favourite Canadian crypto trading platform, we wish you the happiest New Year!
📢 Weekly TL;DR - Dec 26
- Bitcoin price stayed flat going into the holidays
- Coin Scientific Files for Bankruptcy
- BC Suspends New Connections for BTC Miners
- Brazil Signs Crypto Regulations Into Law
- Bitcoin (BTC) +0.1%
- Ether (ETH) +2.5%
📊 Market Overview
In a week that saw the largest American Bitcoin miner file for Chapter 11 protection (Core Scientific), the former ‘white-knight/philanthropist’ of crypto was extradited to the US to be bailed out by Mom and Dad (to the tune of a quarter billion dollars), and the worlds largest Bitcoin holder (Grayscale Bitcoin Trust) contemplate returning their funds to investors… Aren’t you glad you chose to DYOR (Do Your Own Research) and hold the underlying?
The second to last week of 2022 could not have been more, well, 2022. And despite this, fellow NDAXers, we have much for which to be grateful: After all, no one said ‘being the change we wish to see in the world’ or–for that matter–deciding to invest in a revolutionary new technology that promises property rights to all citizens of the world with access to an internet connection, would be easy. It most assuredly is not and has not been for quite some time.
But we’re here, and *all together now* “Tick tock, next block”. We hope you spent/are enjoying a wonderful Christmas/Hanukah/Eid (for those who celebrate these) with family and loved ones, warm and safe, and, we pray, as far removed from the prevailing industry FUD (fear, uncertainty & doubt) as humanly possible!
Stay tuned for our upcoming “NDAX Year in Review: The Top Sixteen Stories of 2022” coming soon to an inbox or social media feed near you.
With gratitude for your business and trust during this most difficult year–and here’s hoping for a more lucrative (and fun) 2023!
Happy new year!
- Ever yours in the #hodl, Bitcoin babes
📈 Bitcoin Technical Analysis
- Despite extremely low holiday volume (which can always lead to high volatility) and the largest publicly-traded bitcoin miner (NASDAQ: CORZ) filing for Chapter 11…
- Bitcoin held virtually unchanged in price week over week.
- We don’t expect any more imminent bad news or large price catalysts… But as 2022 demonstrated–anything can happen.
- Resistance levels: $24,500 $26,000
- Support levels: $22,000 $21,000
- Ethical crypto hackers win $52 million in bug bounties via Immunefi in 2022 – TheBlock
- Hardware Wallet Startup Cypherock Raises $1M to Skip Seed Phrases – Decrypt
- E tu, BC? British Columbia Suspends New Connections for Bitcoin Miners – Decrypt
- Bitcoin Miner Core Scientific Files for Bankruptcy, Expects Support From Some Debt Holders – Coindesk
- Brazil’s President Signs Crypto Regulations Into Law – Coindesk
- US election agency approves use of NFTs as campaign fundraising incentive – CoinTelegraph
- Messari’s Ryan Selkis on Crypto Outlook for 2023 - CoinDesk - The Breakdown w/ NLW
- Thoughtful Conversation on Climate Change, ESG and Bitcoin with Alex Epstein - Coin Stories w/ Natalie Brunell
- BITCOIN TARO, GBTC, & MORE W/ PIERRE & MORGEN ROCHARD - The Investors Podcast - Bitcoin Fundamentals w/ Preston Pysh
- 2022 Was Bitcoin’s Year of Differentiation – Bitcoin Magazine
- Why Bitcoin is the ultimate wealth preservation technology – Bitcoin Magazine
Did you know you could set your Dollar Cost Averaging 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 simpler, 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 surprisingly 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.
- Dec 30th - CME futures expiry
📸 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
Happy last week of 2022!
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.