Market Data Highlights
Bitcoin opens at $49K. It hits lowest at $48K and highest at $50K and stable around $47K ~ $48K. The average transaction fee is $1.69 which is a 17.58% decrease from 12-11-21. Fear and Greed level is at 27.
Ethereum opens at $4.0K. It hits lowest at $3.9K and highest at $4.1K and stable around $4.0K. The average transaction fee is $26.29 which is a 0.0% decrease from 12-11-21. Fear and Greed level is at 36.
Here are some highlights to support my analysis:
NFT market highlights:
The NFT market is stable. This is how it supports Ethereum on a certain level. Defi has dipped into the winter zone as I wrote an article last month. It will take a while before Defi recover.
Today’s sentimental news and comments:
Bullish News ?
IMF cries out loud on cryptocurrency and warns it will cause global financial instability. The more they cry out, the more the believable crypto is coming to change the financial system.
Shiba took over meme as a leading indicator of the meme coins.
GameStop, Lowe’s, and Nordstrom can now accept Shiba as the payment method.
Wikileaks has received $2.2M worth of donations in crypto.
Bearish News ?
Hackers take over control of Indian Prime Minster’s Twitter account to promote Bitcoin giveaway scams.
Future Trend ?
Stablecoin rather than fiat is paring to become a crypto economy.
On-chain cost basis analysis which is similar to my method indicates that Bitcoin continues consolidating until it accumulates another bull run.
Scam Alert ⚠️
Scam: Fake Bitcoin giveaway
Reason scam: Indian’s Prime Minister Twitter account got hacked and promoted scam Bitcoin giveaway
Scam types: fake giveaway, impersonate
Thanks for reading and see you tomorrow!
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