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| By Beth Canova |
Another liquidity crunch has Bitcoin (BTC, “A-”) and the broad market struggling as we close out the week.
The recent low-liquidity environment brought a wave of selling pressure that sent BTC below $100,000 once again.
In fact, it crossed below the key support at $98,000 intraday on Friday. Though, as cycles expert Juan Villaverde explained last week, we’ll need to see a close below this level to signal a trend shift.
This volatility acts as a massive disruption to your crypto strategy. That’s why Juan has looked to his indicators to see When Bitcoin Will Likely Bottom.
And in this pursuit, he’s uncovered an indirect indicator that can give us a glimpse into Bitcoin’s more distant future.
Speaking of, Bob Czeschin reminded you this week that Bitcoin’s Familiar Bullish Case Is Still in Play. That is, the dollar is still weakening, as all fiat currencies are bound to do.
And Bitcoin’s deflationary nature stands in stark contrast, cementing it as a digital store of value and a safe haven outside the reach of central banks.
But this isn’t just our experts’ opinion. Smart money is betting on the longevity of the crypto space as well.
Earlier this week, Coinbase announced it would Host America’s ICO Comeback.
Back in 2017, ICOs were the wild frontier of crypto. And they created the first generation of crypto giants. But by 2018, the U.S. Securities and Exchange Commission (SEC) ruled that most ICOs were unregistered securities offerings.
Enforcement actions followed. And within months, token sales disappeared from the U.S. market entirely.
Now, Coinbase is bringing ICOs back. The twist this time is Coinbase’s compliance-first framework that emphasizes fairness and decentralization.
In his update, crypto expert Mark Gough gives you a sneak peek at the first project set to ICO … and how you can participate.
With the return of ICOs, we can anticipate more launches in an already saturated market.
And considering how sensitive altcoins are to hype, being able to follow the trend and spot the up-and-coming narratives can help you spot a fad from a real opportunity.
To help you keep up with crypto’s twists and turns — and hopefully stay a step ahead — tech expert Jurica Dujmovic shows you How to Train Your Crypto Trading Brain.
But that’s all for this week. Be sure to look to your inbox tomorrow afternoon for your next Weiss Crypto Daily update.
Best,
Beth Canova
Crypto Managing Editor
