Dear Teroxx Community,
This week we saw a digital asset market, which experienced slight setbacks on a weekly basis.
As usual, we are also providing detailed videos for those who want to delve deeper into the subject.
Digital Asset News
For example, the CEO of the Celsius Network, a kind of savings bank for crypto investors, believes that Bitcoin (BTC) has a fixed support range at $30,000 – $33,000, which will not be undercut. Leading the way, Mashinsky sees massive investments from the emerging blockchain project Terra and increasing market entries from institutional investors as key support for the Bitcoin price. If now also more retail investors or private investors should come to it, it goes for BTC back to new record heights, as the expert concludes. To this end, he states:
“I am convinced that the demand is there. I just can’t see us slipping back to old familiar lows.”
Despite all these hurdles, Mashinsky is more than confident that both Bitcoin and Ether (ETH) will set new records this year:
“It will take us longer to reach new record highs, but nonetheless, I am convinced that Bitcoin will crack $69,000 and that Ethereum will jump above $4,500.”
The European Union (EU) has discussed a ban on mining with proof-of-work during a debate on a proposal to ban Bitcoin trading, according to documents released through a Freedom of Information request.
According to a report by Netzpolitik, a German digital culture organization, some EU officials have gone so far as to propose a complete ban on Bitcoin (BTC) trading to curb overall energy consumption. “Ethereum started the shift to PoS because of its community. If Ethereum is able to make such a switch, we could rightfully ask the same of BTC. We need to ‘protect’ other crypto coins that are sustainable. We do not think it is necessary to ‘protect’ the Bitcoin community.”
After FTX filed a request with the CFTC that could hurt Wall Street, Goldman Sachs, a major representative of the U.S. financial industry, is now approaching the crypto exchange. Influential American investment bank Goldman Sachs is apparently planning to partner with major crypto trading platform FTX.
According to media reports, Goldman managing director David Solomon has already met privately with FTX founder Sam Bankman-Fried to explore the various possibilities of cooperation.
As reported by the Financial Times, regulation is said to have been one of the most important topics at the meeting, and the investment bank is said to have offered its help to the crypto exchange in this context, first and foremost in terms of dealing with the trading regulator (CFTC). In addition to this legal assistance, the Wall Street bank is also said to have held out the prospect of its participation in future financing rounds.
On Friday, social network Twitter, along with payment service Stripe, announced the launch of crypto payments feature Stripe Connect. As the two companies explain, certain influencers on Twitter will soon be able to accept payments in the form of the stablecoin USD Coin (USDC). The payments will be processed via the Polygon (MATIC) blockchain network, which is a layer 2 solution with low transaction fees, high transaction speed, innovative zero-knowledge technology and Ethereum (ETH) integration.
Technical term of the week
Regulations: Provide a level playing field for investors. This minimizes risks for consumers and applies a uniform set of laws.
Digital asset market
Bullish outlook: breaking through $40,000 and establishing it as support would significantly increase the chances of bullish moves.
Bearish outlook: Loss of support region at $37,500 could put the market in front of further sell-offs.