
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!
đ˘ 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
đ Moves
- Bitcoin (BTC) +0.1%
- Ether (ETH) +2.5%
đ Market Overview
In a week that saw the largest American Bitcoin miner file for Chapter 11 protection (Core Scientific), the former âwhite-knight/philanthropistâ 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⌠Arenât 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 âbeing the change we wish to see in the worldâ orâfor that matterâdeciding 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 weâre here, and *all together now* âTick tock, next blockâ. 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 âNDAX Year in Review: The Top Sixteen Stories of 2022â coming soon to an inbox or social media feed near you.
With gratitude for your business and trust during this most difficult yearâand hereâs hoping for a more lucrative (and fun) 2023!
Happy new year!
- Ever yours in the #hodl, Bitcoin babes
đ 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 11âŚ
- Bitcoin held virtually unchanged in price week over week.
- We donât expect any more imminent bad news or large price catalysts⌠But as 2022 demonstratedâanything can happen.
- Resistance levels: $24,500 $26,000
- Support levels: $22,000 $21,000
đť News
FUNDING:
- Ethical crypto hackers win $52 million in bug bounties via Immunefi in 2022 â TheBlock
- Hardware Wallet Startup Cypherock Raises $1M to Skip Seed Phrases â Decrypt
INDUSTRY:
- E tu, BC? British Columbia Suspends New Connections for Bitcoin Miners â Decrypt
- Bitcoin Miner Core Scientific Files for Bankruptcy, Expects Support From Some Debt Holders â Coindesk
LEGISLATIVE ENGAGEMENT:
- Brazilâs President Signs Crypto Regulations Into Law â Coindesk
- US election agency approves use of NFTs as campaign fundraising incentive â CoinTelegraph
đď¸ Streaming
- Messariâs 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
đ° Reading
- 2022 Was Bitcoinâs Year of Differentiation â Bitcoin Magazine
- Why Bitcoin is the ultimate wealth preservation technology â Bitcoin Magazine
đ Feature
Did you know you could set your Dollar Cost Averaging to Autopilot with the NDAX Recurring Purchases?
Itâs true! This means you can step up your DCA game with minimal effort. Plus, setting up recurring purchases just got even simpler, as weâve added it in-app as well. And if youâre at all reluctant (as was this writer) to put your buy orders in the hands of someone else: Rest assured that Iâve 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.
đ Events
- Dec 30th - CME futures expiry
đ¸ On Socials
In case you missed these⌠Be sure to follow us on Twitter for educational tidbits and news.
This week NDAXâs 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!
NDAX team
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.