WEEKLY CRYPTOCURRENCY NEWS

A Bitcoin Worth More Than A Kilo of Gold

22-02-2021

Gold has become cheaper than Bitcoin, with 1 kilogram of gold, the largest asset in the world, with Bitcoin pricing at $ 57,000 and above, setting a new record.

Interest Grows in North America's First Public ETF

Canada's first Bitcoin ETF attracted great interest by selling a total of over $ 100 million shares on the first day of its opening, and the total assets under management reached $ 421.8 million in two days.

SBI Holdings Plans To Invest in Bitcoin

Japan's giant financial firm SBI Holdings plans to set up a cryptocurrency startup and make cryptocurrencies one of the company's key earnings. Company CEO Kitao stated that the days when stocks and bonds were the only things people invested in are over and corporate interest will grow.

Tesla Generates More Profit From Bitcoin

The car giant Tesla has already earned $ 1 billion with its $ 1.5 billion investment in BTC. In fact, it turned out that Bitcoin made more profits than the electric car sales the company carried out all year.

Microstrategy Expands BTC Investments
Microstrategy announced that the sales of the bonds are over and they will invest in Bitcoin with $ 1.05 billion in revenue. The company, which currently has 71,079 BTC assets, will receive an additional 19,000 BTC, which means it will increase its BTC assets by 26%.

Bosch Began Work on Blockchain

Bosch, one of Germany's largest technology companies, announced that it has begun work on a functional blockchain network by partnering with blockchain technology company Fetch.ai. Fetch.ai announced that they want to bring together artificial intelligence technology with blockchain.

Preliminary Hearing Held at Ripple

23-02-2021

A preliminary hearing was held yesterday against charges filed by the SEC office for selling securities against Ripple. It was 16 August for both sides to collect the charges and evidence. 

Yellen Re-References Cryptocurrencies
U.S. Treasury Secretary Yellen noted that Bitcoin and other cryptocurrencies are very speculative assets. In a statement, She warned investors not to invest in cryptocurrency assets. Following these statements, there was a sudden decline in the cryptocurrency market and a rapid recovery with it.
 

MoneyGram Has Stopped Partnering with Ripple

MoneyGram, the giant payment network, said in a statement that the use of Ripple's payment solution, ODL, has been suspended. MoneyGram, a money transfer company, was buying XRP from Ripple for the encouragement of XRP use every quarter in its deal with Ripple. 

South Korea Decides to Tax Cryptocurrencies
South Korea's Ministry of Finance said in a statement that the tax system will be active in transactions in Bitcoin and other cryptocurrencies by 2022. The tax will apply to investors earning $ 2,200 and above yearly from cryptocurrency transactions by 20%. 
 

Chief Investment Officer of Barclays Wealth & Investments Considers Bitcoin
Will Hobbs, Chief Investment Officer of a major wealth manager, said sharp declines in Bitcoin could be seen as interest rates rise. Hobbs also said he was staying away from Bitcoin investments due to sharp price fluctuations.
 

Michael Saylor: Buy Bitcoin and Wait Ten Years

24-02-2021

Michael Saylor, CEO of MicroStrategy, the corporate company with the largest BTC assets, told CNBC that Bitcoin will increase 100 times. Saylor also classified Bitcoin as digital gold and advised investors who want to save money to buy Bitcoin.

Istanbul Metropolitan Municipality Creates Blockchain Infrastructure

Istanbul Metropolitan Municipality will manage the subscription opening and closing processes in İSKİ and İGDAŞ via blockchain from now on. The municipality will also distribute ISMEK certificates on blockchain.

Square Buys $ 170 Million Bitcoin

Square company, owned by Twitter's CEO Jack Dorsey, announced that it has purchased 3.318 Bitcoins. With this BTC investment of $ 170 million, the company's total Bitcoin asset rose to 8.27.

Tether and Bitfinex Reconciled

The Tether case, which has been going on for more than two years, has been closed with the parties reaching a compromise. In the lawsuit led by the New York Attorney General's Office, a fine of $ 18.5 million was fined, and in addition Bitfinex and Tether were banned from serving citizens residing in New York.

Bill Gates: Digital Money Is A Good Thing

Bill Gates, one of the wealthiest people in the world, argued that there is no "bullish" in Bitcoin and that many people who are not as rich as Elon Musk should not take risks by investing in cryptocurrency. On the other hand, he stated that the use of digital money is a good thing, but that he finds anonymous transactions very dangerous.

Massive XRP Transfers Happen

Tracking cryptocurrency transfers, Whale Alert detected that 60 million XRPs had moved in the last 24 hours. Although some of them are the account addresses of individual individuals, some of the addresses that carry out this transaction also belong to large companies.

European Central Bank Seeks Veto Power for Stablecoins

Politicians and bankers in Europe worry that the stablecoin projects that big companies like Facebook are working on will disrupt the monetary order. For this reason, the European Central Bank wants to veto projects that may adversely affect the financial order.

 

 

Bitcoin ETF Continues to Attract Attention

25-02-2021

BTCC, the first ETF in the North America region and became active last week, attracts great attention. It received an investment of approximately $ 100 million in the first hours of its start, and $ 564 million in the first 3 days.

Digital Yuan Used for the First Time

It is the first time that China has been working on it in a long time. The digital yuan is being used in the canteen of a university hospital selected as a pilot area in Shanghai, China.

Bank of Canada Considers Stablecoin

VersaBank, operating in Canada, announced on Wednesday that they are planning to produce a digital currency called VCAD, which will be backed by the Canadian dollar in its reserves.

Buying $ 1 Billion Bitcoin from Microstrategy

Microstrategy, the corporate company with the largest Bitcoin assets, announced in its press release on February 24 that it purchased 19,452 Bitcoins. Thus, the Bitcoin presence in the company's balance sheet increased to 90,531.

Ark Investment Management CEO Commenting on Bitcoin Correction

Cathie Wood, founder and CEO of Ark Invest Management, said in an interview with Bloomberg that the Bitcoin correction is quite healthy. Stating that they are positive about Bitcoin, the CEO added that he is happy about this correction in BTC.

$ 5 Million Worth of Bitcoin Relocated for First Time Since 2010

26-02-2021

It was determined from chain data that more than 100 Bitcoins were transferred between wallets. The aforementioned BTCs moved for the first time since 2010, and BTC was trading at $ 0.08 at that time.

JP Morgan Analysts Find 1% BTC Investment Beneficial

Wall Street banking giant JP Morgan stocks to allocate 1% of the portfolio to Bitcoin for investors; He said it would act as a hedge against fluctuations in traditional asset classes such as bonds and commodities.

Ethereum Optimism Update May Come in March

The scalability issue and high transaction fees in the Ethereum network continue to be a problem for Ethereum. However, the 2000 transaction per second capacity Optimism offers can greatly reduce the network problem. The update is expected to arrive in March.

177-Year-Old Swiss Bank to Offer Cryptocurrency Service

Bordier & Cie SCmA, a Swiss bank founded in 1844, announced in its press release today that it will provide cryptocurrency trading services. "We have seen an increasing demand from our customers to diversify alternative asset classes such as digital assets," Bordier's managing partner said in a statement on the subject. said.

Opera Browser Launches Crypto Trading

Opera web browser users will be provided with cryptocurrency purchases directly from the application, thanks to the partnership established by the company. Standing out with its focus on privacy, Opera is currently the fifth most used internet browser in the world.

Chainlink Announces Biggest Update of All Time

Chainlink is launching Off-Chain Reporting, a scalability upgrade to make more data available on the chain. This update will open Chainlink to applications beyond the price streams for which it is famous, and will also provide many other uses.

Grayscale Receives 15 Thousand ETH in One Day from Bottom Prices

With the Ethereum price dropping from $ 2000 and falling to the 1400s, Grayscale purchases accelerated and more than 15,000 Ethereum purchases were made in one day. On the other hand, demand for ETH futures in CME continues unabated.

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 553573.96 TRY

The increase in bond interest rates, which started with 10-year bonds in the USA and jumped to Japan, cannot be prevented. The pressure on interest rates is suppressing even the safe haven gold, which has no other income than indices, cryptocurrencies and value return. Bitcoin is trading at $ 45,700 this morning, down 3%. We see that whale accounts concentrate on buying Bitcoin and $ 5 million worth of BTC is transferred between accounts. Tier purchases were also tight in the previous day $ 44,800 trials. However, while the amount of BTC transferred from exchanges to wallets increased, the Grayscale fund bought BTC yesterday. In addition, the GBTC fund's premium risk has dropped to negative for the first time in its history. This situation can trigger buyers by putting BTC to the forefront of being discounted.

When we look at BTC / USD technically, we see reaction purchases on the hourly chart at $ 45,500. As long as it does not drop below the $ 45,500 level, it will confirm the double bottom. Due to the fact that monthly volatility is 85%, the "zigzag" movements in daily transactions direct investors to transactions at a shorter distance. Trading at volatility requires a little more agility. The outlook is volatile and the horizontal trading strategy continues.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

BITCOIN [BTC] 553573.96 TRY +7.00 +0.03 VOL 21 BTC

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ETHEREUM [ETH] 35521.75 TRY

The increase in bond interest rates, which started with 10-year bonds in the USA and jumped to Japan, cannot be prevented. The pressure on interest rates is suppressing even the safe haven gold, which has no other income than indices, cryptocurrencies and value return. Bitcoin is trading at $ 45,700 this morning, down 3%. We see that whale accounts concentrate on buying Bitcoin and $ 5 million worth of BTC is transferred between accounts. Tier purchases were also tight in the previous day $ 44,800 trials. However, while the amount of BTC transferred from exchanges to wallets increased, the Grayscale fund bought BTC yesterday. In addition, the GBTC fund's premium risk has dropped to negative for the first time in its history. This situation can trigger buyers by putting BTC to the forefront of being discounted.

When we look at BTC / USD technically, we see reaction purchases on the hourly chart at $ 45,500. As long as it does not drop below the $ 45,500 level, it will confirm the double bottom. Due to the fact that monthly volatility is 85%, the "zigzag" movements in daily transactions direct investors to transactions at a shorter distance. Trading at volatility requires a little more agility. The outlook is volatile and the horizontal trading strategy continues.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

ETHEREUM [ETH] 35521.75 TRY +7.00 +0.03 VOL 21 ETH

GREATER

AVALANCHE [AVAX] 343.28 TRY

The AVAX / USD pair is trading at $ 26.30, with a 1.3% retracement this morning. The coins on the DeFi sector, which increase the market value and increase user interest day by day, thus successfully increase their pricing on the stock exchanges. The previous day, the coin called Fantom and AVAX announced their cooperation, and Fantom ranks 49th in terms of market value, and is among the DeFi projects. Thanks to this collaboration, we can say that the developers of AVAX have drawn a forward-looking portrait of trust in the eyes of investors. Within the scope of the project, it is planned to create two block chains linked with multiple chains.

When the AVAX / USD parity is analyzed technically, it is seen that the declining channel that started to form on February 10 continues and weakens the parity. Still, we are close to the $ 25.00 strong support zone, and earlier reactions brought 30% gains with it. If there is a similar reaction, the situation of exceeding the $ 32.60 level and leaving the bearish channel may be on the agenda again. But this is also the 23.60% zone of the Fibonacci retracement and serves as strong resistance. The view is yet horizontal.

RESISTANCES 50.279 / 54.124 / 56.263
SUPPORTS 44.295 / 42.156 / 38.311

AVALANCHE [AVAX] 343.28 TRY +7.00 +0.03 VOL 21 AVAX

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RIPPLE [XRP] 8.68 TRY

The XRP / USD pair retraces 1.5% this morning, pricing at $ 0.43. At the beginning of the week, the desire to move away from the volatile assets that dominate the entire crypto money market or to make a short distance profit caused the investor to apply the strategy of take profit in the short term, wait for a purchase, and we saw sales based on cryptocurrencies in the market. Ripple has survived this period strongly and did not differentiate negatively from other cryptocurrencies without seeing extra selling pressures due to the lawsuit with the SEC. For this reason, we can say that the effect of the litigation process on Ripple has been alleviated, and we can expect XRP to keep up with the market in the next period.

When looking at the XRP / USD pair from a technical point of view, it is seen that pricing has retreated, unable to stabilize here, as the $ 0.47 level in the Fibo'38.20 correction has become a resistance zone. As we mentioned in our bulletin yesterday, this zone is also the breakdown zone of the reverse pennant formation. This signaled that if the breakdown was downward, the sales trend would accelerate, and then a 13% decline was observed. The reverse pennant points to $ 0.30 levels, but this is the point where the uptrend since January has passed. For this reason, withdrawals turn into gradual purchases. On the other hand, the $ 0.43 Fibonacci retracement can be expected to be a critical support level of 23.60% and the chances of reaction to arise above this level.

RESISTANCES 0,4682 / 0,5080 / 0,5361
SUPPORTS 0,4003 / 0,3722 / 0,3324

RIPPLE [XRP] 8.68 TRY +7.00 +0.03 VOL 21 XRP

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LITECOIN [LTC] 1831.29 TRY

Although Litecoin is sold 10 points more weekly than BTC, it is expected that the last update code of the MimbleWimble update will be completed by March 15. For this reason, it supports our expectations in the upcoming processes for LTC, which is an expected development in its projection.

When we consider LTC / USD technically, Litecoin, which we discuss in the weekly period, continues to target $ 270. Although the decline in the market has postponed the expectations, our major support point of $ 150 in retractions and staying above this point also maintains the target expectations in our technical projection. In terms of outlook, we cannot see a clear recovery for now, although the reactions try to complete above $ 170. The outlook is volatile and horizontal as of morning hours.

RESISTANCES 194,13 / 217,28 / 229,56
SUPPORTS 158,70 / 146,42 / 123,27

LITECOIN [LTC] 1831.29 TRY +7.00 +0.03 VOL 21 LTC

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CHAINLINK [LINK] 149.17 TRY

The LINK / USD pair fell 1.5% this morning to $ 24.30. The update announced the previous day was a very successful step on the LINK side because the number of smart contracts on the network is breaking another record every day and we do not want the Ethereum scenario to happen on the LINK side. However, with this update, it is promised that transactions in the Chainlink network will accelerate ten times and will appeal to wider areas of use. Although we have not yet seen the positive reflection of this on the parity, we attribute the reason for now to the decrease in risk appetite in global indices and worldwide. However, in the future, it is possible to witness that the demand is more concentrated on LINK than it is.

When the LINK / USD parity is considered technically, it is seen that the pricing has lost more than 15% in a few candles of 4 hours, but it is known that these losses are quickly compensated considering the monthly (20%) and annual returns (860%) of LINK. The pair is located at $ 24.70 on the Fibo'23.60 zone, which is a strong support level. Upward reactions from here may bring the levels of $ 28.90 to the agenda. On the other hand, the pair is signaling a double bottom formation and this level will also be the region where the double bottom pattern will confirm. Thus, more favorable pricing may be possible for LINK

RESISTANCES 27,54 / 30,47 / 32,21
SUPPORTS 22,87 / 21,13 / 18,20

CHAINLINK [LINK] 149.17 TRY +7.00 +0.03 VOL 21 LINK

GREATER

BASIC ATTENTION TOKEN [BAT] 4.97 TRY

Basic Attention Token is one of the coins that came to the fore with the BAT fund that Grayscale will buy into its own body. It is almost 40% below its February 12 record of $ 0.71. While we think the Grayscale news is priced for BAT and record highs in the pair, implementing this action could quickly increase BAT-oriented institutional interest.

If we consider the BAT / USD pair technically, it seems that pricing is above the $ 0.45 support. The dual correction combination consisting of the Fibo fan curves after the $ 0.39 dip in the decline from the record level works well. Therefore, the 10-point zone between the fan slopes and 0.42 support works horizontally. However, since the 0.5450 zone, which is the 50% zone, has not been passed, we cannot say that the correction is over for now. The look is horizontal but playful.

RESISTANCES 0,5138 / 0,5674 / 0,5954
SUPPORTS 0,4322 / 0,4042 / 0,3506

BASIC ATTENTION TOKEN [BAT] 4.97 TRY +7.00 +0.03 VOL 21 BAT

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