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WEEKLY CRYPTOCURRENCY NEWS

New Partnership Announcement from Chainlink

Off-chain data approved in collaboration with Mogul and Chainlink; It will allow Mogul to be added to its smart contracts and create an ecosystem that accurately measures costs such as film and production. Thus, this new platform will realize data integration with the real world.

Morgan Stanley Considerations To Launch Bitcoin Fund
Morgan Stanley, one of the largest banks in the USA, is considering investing in Bitcoin with a portion of the $ 150 billion fund. According to Bloomberg's report, the bank's Counterpoint Global unit is investigating whether it is appropriate to set up a cryptocurrency fund for investors.
 

BTC Miners Earn Record Profits in One Hour

Bitcoin miners made a total of $ 4 million in one hour, and this value has never been higher in a one-hour period. Part of this gain, which took place in the evening hours of February 11, is also due to transaction fees. Last week, while the transaction fees were $ 11 on average, it increased to $ 25 after the intensity after Tesla's purchase of BTC.

JPMorgan Could Enter Bitcoin Market In The Future

Daniel Pinto, co-chairman of JPMorgan Chase, one of the world's largest banks, stated that in line with the demand for Bitcoin, JPMorgan could also enter the Bitcoin market in the future. Stating that there is no big demand for now, Pinto stated that this will change over time and the customer demand will increase.

Jack Dorsey and Jay Z Build Bitcoin Fund
Twitter's founder Jack Dorsey and Musician Jay Z are setting up a donation fund with 500 Bitcoins worth $ 23 million to support Bitcoin work in Africa and India. Dorsey donated $ 1 million this week to an institution that educates regulators about Cryptocurrencies.

New York Mayor Candidate: I'll Make New York a Bitcoin Hub

One of the election promises of Andrew Yang, presidential candidate in New York, the world's financial center, was to make New York the center of cryptocurrencies. According to the Fontas Advisors and Core Decision Analytics poll, Yang is likely to get the majority of the votes and be elected president.

Elon Musk Supports DOGE

Tesla's billionaire CEO Musk attracted attention with his surprising response to DOGE owners via Twitter. In his post, Musk stated that if the Dogecoin owner large accounts sell their DOGE assets, he will support cryptocurrency by paying real money.

SEC Member Comments Possible Regulations

Hester Peirce, member of the US Securities and Exchange Commission (SEC); Tesla stated that the interest of large companies like Mastercard in cryptocurrencies indicates that the market needs crypto regulations. While Peirce looked very favorably on crypto assets, he argued that there should be clear rules that allow this market to thrive without the risk of breaking the law.

Turkey's Cryptocurrency Curiosity Increasing

Searches for "what is cryptocurrency" and "cryptocurrency market" made on Google broke the all-time record and the search record for 2017 was surpassed. So Google Trends data, was one of the best indicators of the growing interest in the crypto-currency in Turkey.

NFTs Can Be Produced on Ripple Labs

XRP Labs team announced that XRP Ledger can host many different tokens, including NFT. Ripple has previously announced that the platform is also suitable for Central Banks' digital currencies. Now, it is working to realize Ripple Ledger-based productions instead of Ethereum-based NFTs.

Demand for Bitcoin Mining Is Rising
Intense mining activities following the Bitcoin records are also increasing the interest of new miners in the market. CEO of Canaan, one of the largest mining companies in the world, stated that after the news of Elon Musk, corporate companies also started mining. The demand for mining equipment is higher than ever.
 

Mark Cuban Thinks Ethereum Is a Better Choice

Billionaire Mark Cuban, owner of the Dallas Mavericks, stated in an interview that countries can sell a certain percentage of their gold reserves and buy BTC and ETH instead. On the other hand, Cuban emphasized that Ethereum is more advantageous than Bitcoin and emphasized that Ethereum's existing smart contracts pose a huge threat to banks.

After Elon Musk's Tweet, Rapid Rise Was Seen Again

Elon Musk responded to the comments written under his tweets for Dogecoin and stated that if he issued his own coin one day, his name would be "MarsCoin". Then, a coin named Marscoin, which was produced in 2013 and did not have any activity, increased by over 500%.


A New Bitcoin ETF Approved in Canada
Canadian regulators have approved a Bitcoin ETF application filed by Evolve Funds Group. Called EBIT, the fund will offer institutional investors an alternative way to access Bitcoin. Thus, this became the second Bitcoin ETF approved in Canada.

Russia Is Making Taxation Preparations for Cryptocurrencies
In Russia, lawmakers have submitted a new bill to the parliament to tax cryptocurrencies. According to the statement made on the official website of the Russian Federation, the Government of the Russian Federation wants a strict and explicit legal regulation requirement regarding the taxation of cryptocurrencies.

Buying $ 600 Million of Bitcoin from MicroStrategy
The world-famous company MicroStrategy announced that it will sell $ 600 million worth of bonds to increase Bitcoin investments. The company sold $ 400 million worth of bonds to buy Bitcoin in December. After this development, Bitcoin surpassed $ 50 thousand and showed a rapid rise.

13% of Passengers Pay with BTC
British airline PrivateFly announced that it earns 19% of its annual revenue from Bitcoin. According to the company's statements, 13% of the flight payments in January were made in Bitcoin. The most striking thing was that the company kept the Bitcoin paid in the fund instead of converting it into cash.

Increasing Interest of Mexican Companies in Bitcoin
According to the news of El Economista, PwC's Senior Partner, Mauricio 22Hurtado, announced that after Tesla's purchase of $ 1.5 billion in Bitcoin, Mexican companies' interest in Bitcoin increased rapidly, and many corporate companies invested in BTC to prevent competition.

Ripple and SEC "Not Yet" Reach

Although the first hearing of 2 was on February 22, the announcement made a week before the trial announced that no agreement has been made between the parties yet. One of the highlights in this joint statement to the federal court was the failure to reach an agreement with the old SEC administration, not the new one.

 

Gold at All-Time Low Against Bitcoin

As Bitcoin broke a record at over $ 50,000, the largest cryptocurrency reached its all-time high in gold. Thus, with one ounce of gold, only 0.0342 BTC can now be bought.


30 Million XRP Sold By Ripple

In the transfers examined by Whale Alert, it turned out that 30 million XRP was transferred from Ripple wallets to exchanges. Some of the transactions were followed by Ripple co-founder Chris Larsen. The total value of the transfers exceeds $ 16 million.

Deputy Minister Made a Statement on CBRT's Digital Currency

Deputy Minister of Transport and Infrastructure Dr. Ömer Fatih Sayan spoke about cryptocurrencies and regulations at an event he attended. In the statements made, it was stated that it grows at an average of 12% every year. In addition, because in Turkey's development plan based digital blockcha the decision of the Central Bank because it takes place, and it continues to work for removal of money was mentioned.

JP Morgan Interprets Bitcoin Record

Analysts of JP Morgan, one of the largest banks in the USA, stated that Bitcoin could not hold above the $ 50,000 level. In the report published by analysts, it was stated that retail investors rather than institutional investors fuel the price of Bitcoin.

Bitcoin Is a Gold Rival, Not a Dollar, According to Bullard
James Bullard, President of the Federal Reserve Bank in the US, made statements about Bitcoin and gold in a program he attended on CNBC. Bullard advised that if you want to understand and think about Bitcoin, compare it with gold and "I would classify it as a gold rival and interpret it accordingly." he added.
 

Facebook-Backed Cryptocurrency Project Coming Out Soon
Libra, a Facebook-led cryptocurrency project and rebranded as Diem, is expected to emerge at the end of this quarter. According to the statement made by Fireblocks and First, both companies are Diem's; It will enable it to be connected to financial services organizations such as banks, exchanges, payment service companies and e-wallets.
 

Ethereum's Market Cap Exceeds $ 200 Billion

Ethereum; In the ranking of assets according to their market value, it has moved itself higher with its market value exceeding $ 200 billion. In this way, Ethereum, which ranked forty-third, has an average daily transaction volume of $ 35 billion.

Ethereum Sets A Record Again

Ethereum, the second largest cryptocurrency in terms of market value, rose to $ 1930, breaking the record again. Asset management company Graycale has purchased more than twenty thousand Ethereum in the past twenty-four hours. Recent Ethereum purchases at Grayscale surpassed Bitcoin purchases. On the other hand, ETH futures saw $ 75 million daily.

SEC Goes To Change Regarding Ripple Case
Ripple's legal counsel, Stuart Alderoty, said in a statement on Twitter that the SEC is amending the Ripple charges. Aderoty explained that there is only one legal claim left, and whether it is only certain distributions of XRP an investment contract.

Integrated with the World's First CBDC Mastercard

The Bahamas has been the country that introduced the first Central Bank digital currency in recent months. The country has integrated its digital currency called "sand dollar" with Mastercard, so payments can be made in sand dollars wherever Mastercard is accepted as a payment system.

MicroStrategy Raises Bitcoin Buying to $ 900 Million

MicroStrategy, the business intelligence company, announced that it will invest in Bitcoin with $ 600 million in revenue by selling the bonds in its hands and announced that it will increase its investment to $ 900 million.

RippleX Vice President: Working With Central Banks

RippleX Vice President James Wallis stated that they are negotiating with Central Banks for the XRP partnership, after Ripple CTO recently announced that they were working on XRP-based applications.

It Is Possible To Pay Tax In Switzerland With BTC and ETH

The Swiss Confederation has announced that the Zug canton will accept Bitcoin and Ethereum for tax payments. Citizens will be able to pay by scanning the QR code from their cryptocurrency wallets. Later, these payments will be converted into Swiss francs with the contracted intermediary company and accepted as tax payments.

New Exclusion News From XRP

A cryptocurrency exchange with a total volume of over $ 1 billion has announced that it will stop XRP transactions. According to the statements made by the General Manager of the Exchange, it was stated that due to the risks involved in the lawsuit between Ripple and SEC, the path will be followed according to the outcome of the lawsuit.

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 521216.29 TRY

Bitcoin is trading sideways with slightly sellers at $ 51,350 this morning. Two important news in the last two weeks' yield performance: Tesla announced that it would buy $ 1.5 billion in BTC and MicroStrategy raised it to $ 900 million and organized the bond auction to buy BTC. However, the price-metric mismatch in terms of new participation in the market and new liquid transfer puts forward a short-term correction scenario for Bitcoin. While the number of active and new addresses decreases, the price increases are inverse metrics.

Let's consider BTC / USD and Bitcoin futures binary. When 7 and 30-day DEMA (Double Exponential Moving Average) is used in the Bitcoin spot evaluation, the support of $ 49,200 below and the resistance of $ 52,300 above, while the 5 and 21-day DEMA in the Bitcoin term ranges between $ 52,800 and $ 49,900. So a short pull towards the $ 50,000 level would be healthy for Bitcoin, according to the moving average strategy. In BTC / USD, which is in the bullish channel, the upper band of the channel 52,600 was tested and some retracement was observed. There is a flat and squeezed motion between $ 50,000 and $ 52,600.

RESISTANCES 52.351 / 52.973 / 53.747
SUPPORTS 50.955 / 50.181 / 49.559

BITCOIN [BTC] 521216.29 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 19240.37 TRY

Ethereum is counting to $ 2000 with transactions at the level of $ 1915. While Ethereum displays a stronger outlook than Bitcoin, the decline of BTC dominance to 60.5% offers a positive course for Ethereum and other altcoins. The relatively lower mining fees in Ethereum metrics, as well as the increasing number of active and new addresses, point to the growing Ethereum consensus. At the end of the month, there are expectations that the graphics cards used by most Ethereum miners will be released, which could significantly reduce network density, lowering miner fees and shortening times. So basic and chain metrics for Ethereum support the bullish arguments.

When we consider ETH / USD technically, the rising triangle seen at the beginning of the year and broken at the beginning of February in the pair, which is in the upward channel, points to $ 2060 levels. In the current situation, while the middle band of the channel passes through the level of $ 1850, it can move towards its target and new records as long as this level is not broken down.

RESISTANCES 1956 / 1988 / 2025
SUPPORTS 1886 / 1848 / 1816

ETHEREUM [ETH] 19240.37 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 15.69 TRY

Ripple bu sabah yatay bir değişimle 0,5300 $ civarında fiyatlanıyor. SEC tarafından Ripple şirketine açılan ve XRP'nin bir menkul kıymet olduğu iddia edilen davada güncel bir değişiklik yapıldı. Piyasa bunun XRP aleyhine ve lehine olduğuna dair ikiye bölünmüş durumda. Yine de bu çatışmalı durum 22 Şubat dava gününe kadar devam edebilir hatta daha uzun vadede karar aşamasına kadar sürebilir. Öte yandan Ripple yöneticileri yaptıkları açıklamalarda Merkez Bankaları ile iş birliği içinde olduklarını ve XRP'nin CBDC çalışmaları içinde yer alacağını ifade ettiler. Sözü edilen durum gerçekleştiğinde XRP’nin bu haber ile birlikte olumlu fiyatlandığını görebiliriz. Fakat önce XRP'ye ilişkin durumun daha şeffaf olması gerekiyor.

XRP/USD paritesi teknik olarak incelendiğinde 0,5200 $ seviyesinde trend aşağısında sarkmalar oluşturulduğu görülüyor. Bu da XRP'deki kararsızlığı ve kısa periyottaki ani satışları temsil ediyor. Böylelikle parite 0,5400 $ trend desteği üzerinde kalamayarak daha yatay bir seyir izlemiş oldu. 0,5330 $ desteği etrafındaki fiyatlanmalar tepki şansı doğurabilir fakat MACD ve momentumdan henüz güçlü sinyaller alamıyoruz. 

RESISTANCES 31,65 / 30,72 / 30,03
SUPPORTS 0,5156 / 0,4971 / 0,4782

RIPPLE [XRP] 15.69 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 2289.68 TRY

Litecoin is pricing at $ 232 this morning, up close to 3%. Bitcoin has been the pioneer of Litecoin lately because we see that price increases primarily occur on the BTC side. It is noticed that, confirmed by the number of wallets and new address data, a part of the capital from altcoins is directed to Litecoin along with Bitcoin. However, unless this increase in Bitcoin is confirmed by chain data and there is no news-based change, the expectation of a short-term consolidation period leads to a similar scenario for Litecoin. Considering the chain data, the recipient addresses that made successful transfers reached the highest level of the last three years. This shows that the transaction volume and interest are not withdrawn from Litecoin.

When the LTC / USD parity is analyzed technically, it is seen that the upward reaction given by the deterioration of the horizontal at $ 144 on February 8 has shown a steady increase. The $ 231 level in the Fibo'61.80 correction is just above the current pricing as a resistance zone. Making this level a difficult support zone may be very positive for the pair, but we will see at least 4 hour 4 candles close on this zone. In possible retracements, the horizontality between $ 186 and $ 231 could make the pair more suitable for short-term positions. MACD and momentum are not giving strong signals, we see that the volume is not high for now.

RESISTANCES 237,48 / 242,70 / 251,38
SUPPORTS 223,58 / 214,90 / 209,68

LITECOIN [LTC] 2289.68 TRY +7.00 +0.03 VOL 21 LTC

The LINK / USD pair is pricing at $ 32.70, with a horizontal increase in the morning hours. Chainlink has generated a return of close to 180% since the beginning of 2021. Market-wide sales pushed LINK away from the peak of $ 35.70, but short-term sales have not suppressed the upward trend in the long term. The capital inflows experienced by the altcoins can turn the LINK rise in favor of the bulls again, as the risk appetite increases. When looking at the on chain data, it is seen that the token supply on the smart contracts in Chainlink has reached the highest level of all time. This may support the rise on the LINK side for the market diversifying on the basis of new tokens.

When the LINK / USD parity is examined technically, it draws attention that the horizontality between $ 30.30 and $ 34.60 is not deteriorated, but movements on the hourly chart are in a narrower area. The involvement around $ 32.60 may have caused indecision by buyers and sellers. For a more positive course, this region should be overcome and the middle band of the channel, which is $ 33.70, should come to the agenda. Since the oscillators used are far from resistance levels, the outlook is positive on the indicators side.

RESISTANCES 33,27 / 33,97 / 34,89
SUPPORTS 31,65 / 30,72 / 30,03

BASIC ATTENTION TOKEN [BAT] 12.31 TRY

Basic Attention Token is retracing 1% this morning and pricing in the $ 0.6270 region. The upward break of $ 0.6150, which corresponds to the Fibo level of 61.80, showed that no confirmation was received for the double top, thus avoiding the double bottom target reaching the $ 0.4000 region. On the other hand, the flag formation he created gave the signal to start as well, as the $ 0.5900 flag zone and then the above-mentioned Fibonacci retracement have been victorious. The target zone of the BAT / USD chart is around $ 0.9000 and if we want to calculate it mathematically on maturity basis; Basic Attention Token, which has an average daily volatility of 5%, is expected to have a maturity of approximately 15 days. However, this mathematical calculation was created by ignoring the possible developments in the macro section. Towards the $ 0.9000 region, the percentage potential is around 40%.

RESISTANCES 0,6647 / 0,7008 / 0,7447
SUPPORTS 0,5847 / 0,5408 / 0,5047

BASIC ATTENTION TOKEN [BAT] 12.31 TRY +7.00 +0.03 VOL 21 BAT

AVALANCHE [AVAX] 281.03 TRY

AVAX is pricing in the $ 39.80 region this morning with a 3% retracement. In the days when the market was more buoyant, we saw AVAX records and then hard retreats. The biggest reason for this situation was a node error in the pangolin update. Although this negative situation has been corrected by the developers of the Avalanche platform, this time there is another handicap for AVAX. AVAX locks, which will be opened on March 9, will allow the sale of AVAXs that are given as a reward for keeping them within a certain maturity. Thus, a substantial increase can be seen on the supply side. On the other hand, PoS coins gained 20% on average in 7 days, while AVAX remained discounted with 24% loss. In this case, the convergence of AVAX and other PoS coins may be positive on the AVAX side.

When we examine the AVAX / USD parity technically, we see that the reaction from the descending trend zone brought about 20% positive price action, but the following horizontality caused this move to remain limited between $ 37.00 and $ 43.00. For prices above the Fibo'50 slice, ie $ 37.00, this is the strong support zone and will be followed during the day. Although the oscillators we use do not give a positive signal due to the horizontality, they are stripped of the negative region. The upward reversal signal of the Stochastic oscillator and volume increases should be watched.

RESISTANCES 43,6600 / 47,5707 / 50,6507
SUPPORTS 36,6693 / 33,5893 / 29,6786

AVALANCHE [AVAX] 281.03 TRY +7.00 +0.03 VOL 21 AVAX

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