Dear Teroxx Community,

This week we saw a digital asset market that saw little price change on a weekly basis.

Weekly overview

As usual, we are also providing detailed videos for those who want to delve deeper into the subject.


Latest crypto news

The Advanced NVT calculates whether Bitcoin is overbought or oversold at a certain level. It uses market capitalisation and network volume to do this.
At the end of November, when the BTC/USD pair had already fallen to 56,000 US dollars, Swift thought a recovery was due. araupon, this indicator has fallen further, just like the spot rate. What may be positive, however, are the signals from the NVT, which indicates “oversold”. This has only happened six times since 2015.
“There is a lot of fear in the market at the moment, which makes me bullish. Many indicators are signalling that we are approaching a bottom,” as he explained.
“The Advanced NVT signal looks at the price relative to on-chain transactions. It was in oversold territory only a few times before that. Each time it has been, there has been a strong rally.”
Strong recoveries must always be viewed in relative terms and only give a small glimpse of an indicator in the overall market and is therefore only a single indication and not a recommendation for action.

After a massive drop in the hashrate in June, the Bitcoin network is now back at full strength. Bitcoin’s global hashrate had slipped to an interim low of 84 exahashes per second (EH/s) in June following the Chinese government’s crackdown on the market-leading domestic mining industry, but now the blockchain network’s performance is already back to where it was and even beyond.
According to Blockchain.com data, the global hashrate has increased by 108% since June, with the network hitting a seven-day average of 175 EH/s in recent weeks.
This puts the hashrate just 3% behind the record highs of 180 EH/s achieved during the record run in May. The key figure is not only a pure indicator of the available computing power, because many observers see the hashrate as an important harbinger for the price development of Bitcoin (BTC).
It is clear here that blockchain technology has become a global trend!

France, Switzerland and BIS successfully test digital euro and Swiss franc.
The Banque de France (BdF), the Swiss National Bank (SNB) and the Bank for International Settlements Innovation Centre (BISIH) have successfully completed a pilot project called Project Jura, in which a so-called “wholesale” central bank digital currency (CBDC) was used to process international payments.
The pilot project consisted of three experimental areas. First, a decentralised peer-to-peer (P2P) network based on Corda, which was used to validate transactions and, as it were, guarantee compliance with all legal, regulatory and economic requirements of the participating nations. Second, the tokenisation of euros, Swiss francs and short-term Euronotes as wCBDCs. Third, the establishment of an infrastructure for real-time settlement of international payments and digitisation of bonds.

Technical term of the week

Exchange Volume: Describes the trading volume of a trading platform measured by all available trading pairs. This volume is usually presented in 24-hour format and shows how much trading has taken place.

Crypto Market

Last week we saw market movements that led to a week of consolidation taking place.After the major sell-offs, the market was able to stabilise and move into a consolidation / sideways phase. This often happens when the majority of market participants are undecided about the further course of the price. As a result, trading volume usually falls and volatility decreases. This was also seen in the market last week. Bitcoin was only able to regain the $50,000 mark for a short time and quickly fell back below this line, which put the brakes on a rapid recovery of the price. Since then, Bitcoin has been hovering between support at ~$46,700 and ~$50,000. The altcoins did not see any great movements either, making it a “quiet” week in market terms.

BTC/USDT, 60

Bullish outlook: Breaking $50,000 in the long term and establishing it as support waould bring stability to the market.

Bearish outlook: A loss of the support region at ~$46,000 and a sell-off down to ~$43,000 – ~$42.00 could be negative for the market in the longer term.