WEEKLY CRYPTOCURRENCY NEWS

Elon Musk Writes "Bitcoin" to his Twitter Account

Elon Musk, the richest man in the world, wrote "Bitcoin" in the statement part of his Twitter account after his tweets about stocks, and the price of BTC increased from 32 thousand dollars to 37 thousand dollars in minutes. In addition, Musk, in the last tweet he shared, "In retrospect, this is inevitable." gave his statement.

Record USDT Entry To Exchanges
After Bitcoin, which became active after Elon Musk's move, a large amount of Tether entered the stock markets within 1 hour. The USDT entry worth $ 330 million is an indicator of the buying appetite for the cryptocurrency market.

Visa Can Run Cryptocurrencies On Its Own Network

The CEO of San Francisco-based payment giant Visa said in a statement that he sees Bitcoin and other cryptocurrencies as "digital gold". In the next step, he stated that they can use Bitcoin as one of the payment methods along with 160 other fiat currencies.

Tendency to Crypto Currency Exchanges Increases

As the interest in bitcoin and cryptocurrencies increases, more and more people are turning to invest. For this reason, cryptocurreny exchanges are also very popular because they are the most preferred platforms to buy and sell cryptocurrency

MicroStrategy Seeks to Increase BTC Assets

The giant business intelligence company MicroStrategy signaled that it could buy BTC again in its fourth quarter report. The company, which has a total of 70 thousand 784 Bitcoin assets, stated that they want to keep their Bitcoins and invest more Bitcoin in the future. Announcing that it is developing new strategies to buy Bitcoin, MicroStrategy's conference on February 3-4 is eagerly awaited.

Bitcoin Market Volume Rises Again

Bitcoin entered the top 10 again in the list where assets are listed according to market volume. Thus, it surpassed the eleventh place Taiwan Semiconductor. After its rapid rise of 5 thousand dollars, it increased its dominance from 62.6% in the morning hours to 64.2% and the market volume increased to the level of 685 trillion dollars.

Ripple Submits Report to Court

Ripple has compiled a detailed report that disproves all the reasons the SEC used to judge XRP as a security. Then XRP prices saw an increase of over 60%. Although the main reason for this increase is not known yet, the trade volume of XRP has increased from $ 4 billion to $ 12 billion in a very short time. In Turkey "Ripple" and "XRP" On January 30 the volume of searches for words broke the record of seven days.

Ripple Stands Out With New Deals

Francisco-based blockchain company Ripple has invested in MoneyTap, a subsidiary of Japanese financial giant SBI Holdings. The MoneyTap app, powered by the RippleNet network, is expected to connect to 20 banking institutions by the end of 2021. By the end of February, three more banks are expected to come into play.
 

Switzerland Adopts Cryptocurrencies

A Swiss based digital asset management and custody company was granted a securities house license by the Swiss Financial Market Supervisory Authority. In this way, confidence was provided to customers in terms of risk and liquidity in crypto currencies, where institutional adoption increased, and the company stated in a statement that possible problems will disappear and investments will grow thanks to the license.

Guggenheim Can Legally Invest in Bitcoin Trust Fund

Investment giant Guggenheim applied to the US Securities and Exchange Commission (SEC) for Bitcoin transactions in November to invest in the Grayscale Bitcoin Trust fund. It was announced by the SEC that these transactions could only begin as of February 1. The assets under the Guggenheim's management are worth more than $ 246 billion, and the company can now trade up to $ 500 million in BTC.

Bridgewater Interprets Bitcoin

Bridgewater researchers, the world's largest hedge fund, discussed three challenges in Bitcoin in their newsletter. Bitcoin is still very volatile, regulation uncertainties and liquidity levels. When Bitcoin overcomes these difficulties, expectations were announced that institutional demand will increase. Bridgewater CEO expressed his admiration for Bitcoin in a statement.

Negotiates with Ripple to Turkey and Kuwait Cooperation

According to a statement issued by a bank based in Kuwait, Kuwait Finance House and charge customers between Kuwait and Turkey 7/24 ripplenet the network to be used for a platform that can transfer money. In the continuation of the statements, it was stated that they want to benefit from Blockchain technology and increase its benefits in order to adapt to the financial sector.

Bitcoin Statement by Elon Musk

Elon Musk, one of the richest men in the world, made a statement in the program he attended this morning as "I am a Bitcoin supporter, Bitcoin is about to be accepted in the traditional finance community." Emphasizing that he should have bought Bitcoin eight years ago, Musk stated that although he was late, those who believed in Bitcoin were also included.

Another Delist News for XRP

One of the world's largest leveraged cryptocurrency exchanges based in East Africa reported that as of February 15, XRP transactions will no longer be made on the platform. According to the announcement, the exchange will remove the XRP / USD and XRP / BTC trading pairs from its platform on February 15th.

Grayscale Restarts Ethereum Buying

Grayscale, the world's largest digital asset management company, can periodically suspend some Cryptocurrency purchases. However, the increased demand prompted the resumption of discontinued Ethereum purchases, and there were 25,000 Ethereum inflows in 24 hours into the $ 4.52 billion Ethereum fund.

Miami Municipality Talks to Pay Salaries with Bitcoin

Miami Mayor Francis Suarez stated that he aims to use Bitcoin in three different areas. If preferred according to the target, municipal employees will be able to receive their payments in Bitcoin, and citizens residing in Miami will be able to pay their taxes in Bitcoin.

MimbleWimble Update Ready For Litecoin

Litecoin's Mimblewimble developer David Burkett announced that the update is available on March 15. MimbleWimble is a blockchain design that provides more privacy and better network scalability. Design differences focus on a compact history and facilitate and speed up data processing and verification.

Music Application Is Being Built On The Algorand Blockchain

Opulous, the first provider of DeFi platform powered by music, will perform the functions of decentralized banking for artists using the Algorand (ALGO) blockchain. Thus, Opulous will serve as a loan pool that artists can borrow and contribute to. Artists who want to borrow money will receive loans with their royalties as collateral

BTC Report from $ 30 Billion Fund ARK Investment

ARK Investment stated in its report that Bitcoin prices could at least double. In the annual report published, if all S&P 500 companies invest in Bitcoin with only 1% of their cash, Bitcoin prices will see an additional $ 40,000 increase, which is more than twice the current price of Bitcoin.

MicroStrategy Conference Begins Today
The conference to be organized by MicroStrategy on February 3-4 starts today. At the conference, an overview of Bitcoin will be discussed and the importance of Bitcoin and cryptocurrency adoption for institutional investors will be explained. MicroStrategy CEO Michael Saylor stated on Twitter that corporate companies are very eager to get to know Bitcoin closely.
 

Ruffer Investment Sells Bitcoin Profits

Ruffer Investment, which manages $ 30 billion of assets, sold about half of its Bitcoin purchases in November, covering the entire purchase cost. The company that sold $ 650 million worth of Bitcoin now has $ 700 million worth of Bitcoin. In their statement, they announced that the rise of Bitcoin for the digitalizing world has just begun.


Guggenheim CEO: Bitcoin Could See $ 600,000

The CEO of Guggenheim Partners, one of the world's largest wealth funds with more than $ 310 billion in capital under his management, stated that they have been following Bitcoin as a company for 10 years and after their fundamental analysis, they think that Bitcoin can go up to $ 600,000.

BAT Scanner Passes 25 Million Users

Brave, a privacy-focused Basic Attention Token browser, has grown significantly, exceeding 25 million active users. What's more, with over 12 million wallets that support Brave BAT, it now records more than 4.3 million monthly transactions from users.

Cryptocurrency Records Break in Google Searches

Searches for "buy crypto" on Google broke a record, reaching an all-time high in January, according to data from analytics company The Tie. On the other hand, searches for "best cryptocurrency app" and "best crypto exchange" also reached record levels. These increases in search trends show that the interest in the cryptocurrency industry has increased.

US Pension Fund Increases BTC Shares

It turned out that America's largest public pension fund CalPERS increased the number of shares in the Bitcoin mining company Riot Blockchain 7 times in the last quarter of 2020. The fund has approximately $ 441 billion in assets, and with the increase in BTC prices, the value of the shares held by CalPERS approached $ 2 million.

Transaction Fees on Ethereum Network Set a New Record


Transaction fees on Ethereum network broke an all-time record on Feb. 4, reaching over $ 20. These data, showing the interest in the Ethereum network, caused miners to increase their income thanks to the highly priced ETH. However, such high costs cause Ethereum transactions to be delayed.

112.5 Million XRP Transferred to Exchanges

According to the data from Whale Alert, 112.5 million XRP were transferred from wallets to crypto exchanges within 10 hours. One of those wallets was found to belong to Ripple's former partner Jed McCaleb. Jed McCaleb transferred more than 12 million XRP to the exchanges on February 4.

Spain Includes Cryptocurrencies in Annual Tax and Control Plan

The Spanish Tax Office has issued guidelines to prevent tax evasion in cryptocurrencies. According to the guidelines, it is aimed to have information about digital asset owners in cryptocurrency exchanges and to tax them correctly. It was stated that the purpose of this action was to prevent financial crimes.

Ripple Announces They are SOC 2 Certificated Now

Ripple, the developer company of XRP, announced that RippleNET product developed for financial institutions has received System and Organization Controls (SOC 2) certification. Thus, Ripple proved that the company complies with security and privacy requirements. The company believes that they will gain more customers from banks and other financial institutions.

The Value of the Cryptocurrency Market Breaks A Record

A new recod has set in 2021. The value of the cryptocurrency market broke the all-time record on 4th February morning with a value close to $ 1.139 trillion. Bitcoin, which continues to be the first in terms of market value, has a market value of $ 700 billion and is followed by Ethereum with $ 186 billion.

SBI Group Adds XRP to Cryptocurrency Lending Service

Drawing attention with its statements supporting Ripple after the SEC case, the financial giant of Japan SBI Group announced that the compaly will offer XRP lending services to SBI VC Trade users. Thus, XRP traders will be able to earn interest income by depositing XRPs that will be used to lend to other customers.

PayPal Announces Their Cryptocurrency Plans

Although PayPal offers cryptocurrency service within the USA, the service is currently not available in other countries. However, in the report published on February 3, the company stated that they want to provide cryptocurrency services for 29 million different businesses operating in many different countries of the world.

Interest in the Decentralized Finance Grows
The total amount of assets locked in DeFi protocols reached $ 32.50 billion. According to CoinGecko data, the total market value of the DeFi sector is currently $ 60.82 billion. The DeFi Pulse index, on the other hand, increased by nearly 15%. Increasing demand and the rise of Ethereum prices have a positive effect on the decentralized finance ecosystem.
 
Last Day For Bitcoin Options Contracts

Bitcoin options worth $1 billion will expire on February 5th.  By analyzing the aggregate open interest between $28,000 and $43,000, there are $300 million worth of call options stacked against $290 million open interest from put options.

Banks Can Buy and Sell Bitcoin with Visa

Payment giant Visa, with 70 million users around the world, announced that they have collaborated and made new agreements in to trade Bitcoin in traditional banks. According to the statements made, customers will be able to easily connect to the program and perform their Bitcoin transactions through banks thanks to the Visa Crypto Pilot program.

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359721.43 TRY

Bitcoin is pricing sideways around $ 37,200 this morning. While Bitcoin dominance falls below 61%, this situation presents us that there is a tendency towards altcoins rather than Bitcoin. Therefore, the horizontality of BTC's movements should be indicative rather than worrying. 26 BTC exited from Grayscale funds yesterday. Guggenheim, who was allowed to invest up to $ 500 million in BTC by the SEC this week, has pronounced the price of $ 400-600 thousand for Bitcoin based on the basic analysis. While Bitcoin's monthly volatility is declining, the movements attaining a more stable plane provide the market with calm and reliability.

BTC/USD technical analysis shows that there is a minor uptrend formation breaking the downtrend that has occurred since the $ 42,000 level. Trend support is traversing the $ 35,850 level, with the rises stuck at the intermediate resistance at $ 37,800. Our intermediate support is $ 36,800, which corresponds to the Fibo'61.8 tranche, while the outlook is horizontal and positive.

RESISTANCES 38.592 / 39.946 / 41.142
SUPPORTS 36.042 / 34.846 / 33.492

BITCOIN [BTC] 359721.43 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24665.90 TRY

As February 8 approaches, Ethereum FOMO has started among investors. Traded with a gain close to 4% this morning, ETH is priced at $ 1655. As with stocks, a price / earnings ratio was obtained in Ethereum when they proportioned the gains from the total market value size / transaction fees. This ratio is now below 0.01 compared to the price and the average for the last three years is around 0.02. For this reason, we have not found the $ 2000 level we expected for a while in Ethereum. In addition, Ethereum network fees broke records. This may negatively affect the value of Ethereum. For this reason, it is useful to focus on the supports specified on the technical side, not on resistances or rises.

When we consider the ETH / USD parity, there is a resistance zone in the $ 1660-1680 band. Prices stuck in this resistance zone can generate profit sales up to $ 1610 levels. The rising triangle and the latest flag formation point to $ 2050 levels. The outlook is positive and in an uptrend.

RESISTANCES 1700 / 1757 / 1829
SUPPORTS 1571 / 1498 / 1441

ETHEREUM [ETH] 24665.90 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 319.48 TRY

The AVAX / USD pair set a new record this morning at $ 16.35 and is currently priced at $ 16.15. As we mentioned in our bulletins published in the previous days, Algorand and AVAX, which is an equivalent but more advanced of Ethereum technology, is getting more attention with the increase in transaction costs on the Ethereum network (ETH transaction fees are up to $ 20). These two cryptocurrencies are showing a steady increase, continue to gain in value. The AVAX / USD pair broke the $ 15.70 channel upper band, making it a support level. After the flag formation formed in mid-January, it is moving towards the formation target of $ 20. There is no resistance level on the upwards. In possible downward movement, the channel upper band will be at the $ 15.70 support level.

RESISTANCES 17,0889 / 17,8757 / 19,2417
SUPPORTS 14,9361 / 13,5701 / 12,7833

AVALANCHE [AVAX] 319.48 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.81 TRY

The XRP / USD pair is pricing at $ 0.4490 with a horizontal change this morning. XRP developer Ripple continues to take positive steps for the company. Especially in the last two weeks, new partnerships are taking place within RippleNet. On the company's website, a certificate called SOC 2, owned by companies that comply with security and privacy standards, was published the previous day. While the company is taking these important steps trying to improve its damaged reputation, Ripple's former co-founder Jed McCaleb continues to sell more than 12 million XRP to the exchanges yesterday.

When the XRP / USD pair is technically analyzed, it is seen that XRP is priced above the $ 0.4450 level support. Stability above this region and closing the candle above this level may bring the $ 0.5000 level to the agenda again, but the data flow should be followed. Weak pricing may initiate movement towards the $ 0.3600 region, bringing with selling pressures and increasing the downward momentum. However, the current view is in the direction where the reactions occur and the rises are seen.

RESISTANCES 0,5012 / 0,5503 / 0,6107
SUPPORTS 0,3917 / 0,3313 / 0,2822

RIPPLE [XRP] 8.81 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 990.67 TRY

Litecoin is trading around the $ 153.30 level this morning, with a 5.5% price increase against the dollar. LTC has made a negative 9% return monthly. It has stood behind in the market movements in recent years. Following the Bitcoin dominance fall, BTC has also been horizontal. This may have created a weakness for Litecoin, one of the cryptocurrencies with the highest correlation with BTC. Nevertheless, it is seen that Litecoin is quite slow compared to other altcoins when we emphasize that the altcoin season may be starting. It will close the gap, but the uncertainty in terms of maturity and the horizontality that has been going on for a while may be lowering the interest in Litecoin.

 

When the LTC / USD parity is considered technically, it is seen that it has not broken its resistance at $ 157.10 and returned from here. Although the support from the $ 143.00 level remains weak, the surpassing $ 157.00 can bring a rapid rise and bring the pair to reach the record $ 183.00 again. However, if the horizontality between the $ 143.00 - $ 157.00 levels continues, it may create selling pressures on Litecoin, shifting interest towards other altcoins. For this reason, it will be important in which position this horizontality will be broken. The MACD indicator gives a bullish signal with rising bars and expiration lines in the daily period.

 

RESISTANCES 157,43 / 161,93 / 170,05
SUPPORTS 144,81 / 136,69 / 132,19

LITECOIN [LTC] 990.67 TRY +7.00 +0.03 VOL 21 LTC

LINK is priced at $ 26.60 this morning, and has achieved a new record after testing $ 26.70. In this period when the returns of altcoins, especially altcoins in the DeFi sector, are increasing, LINK continues to expand its investor network and grow its audience. Link has yielded 16% on a weekly basis and is still lagging behind Ethereum returns and we can expect this shear to move to a close. On the other hand, rising transaction fees and rising costs in the Ethereum network could support the increase in interest for LINK with the largest market cap among ETH consensus tokens.

When we examine the LINK/USD parity technically, with the reaction coming over the support at $ 23.60, the pair moved up by 12% and broke the resistance at $ 25.45 upwards. From now on, resistances of $ 27.60 followed by $ 30.00 will follow. The Parabolic SAR indicator remains below the pair, giving signals that support the upward movement and the strong reactions and recoveries following the lows are very positive for LINK, which is in the bullish channel in technical view.

RESISTANCES 27,77 / 29,05 / 31,54
SUPPORTS 24,00 / 21,51 / 20,23

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