#66 NEWSLETTER Mr.Advice
Why can the collapse of another giant signal the beginning of a bull market? Analysis, Genesis bankruptcy and company update.
Hello!
This week a lot of interesting facts. I invite you to read more!
MARKET ANALYSIS BY CRYPTOAARON
#BTC - as you may notice in the picture, I present to you a POTENTIAL ( the price does not have to go that way at all ) movement on BTC. It takes into account the possible unwinding up to the green zone. And now the important point: the green zone is large ( up to 19.1K ) and in it two stronger ones. They are the ones that most strongly assume a potential rebound: considering the continuation movement that may follow the breakout of the trend line, the first green zone seems to be the maximum. However, I gave the whole zone precisely so that you would feel comfortable with averaging ( buying ) for the reason that the correction zone is up to 19.1K. Anyway, it is worth considering purchases in the whole zone, the target market is 24-26K, TPs are given.
Levels on BTC:
#ETH
ETH assumes a possibly slightly larger recovery than BTC due to stronger reactions in both directions, while there may not be such a large recovery at all. Hence the large green box as well, since simply within it the price seems attractive. The targetis $2K.
Levels for ETH:
Want more concrete and daily analysis and commentary on them? I invite you to the Golden Keys channel :
You are also welcome to join the free chat, where once in a while we throw in such analysis and other important information and you can see how it looks from the inside:
YOUTUBE CRYPTOAARONA
- $24,600 on Bitcoin confirmed? Is it just a trap? Market analysis - BTC and ETH
A week of increases is behind us. See what CryptoAaron said about them 6 days ago!
2. TOP strategy that works ALWAYS in a bull market and a bull market. Why is it so simple ?
What is the strategy? Buying the lows in a bull market and selling the highs in a bear market.
3 Is it time for altcoin shopping? Look for gems on the market! Analysis of selected altcoins.
As every week, 3 gems and a look at Aaron. LTC, AZERO, OP.
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NEWS FROM THE WORLD OF CRYPTO
GENESIS BANKRUPTCY
Cryptocurrency lender Genesis has filed for bankruptcy to protect the interests of the company and its creditors.
The company was recently accused by US Securities and Exchange Commission (SEC) regulators of illegally selling cryptocurrencies.
It is part of the Digital Currency Group (DCG), a conglomerate of more than 200 companies focused on cryptocurrencies.
Genesis' insolvency is linked to the bankruptcy of FTX, which collapsed last November amid allegations of fraud.
Genesis was originally founded as a "trading desk". Allowing trading of large amounts of cryptocurrencies.
Earlier this month, it announced that it was laying off 30% of its staff, reducing it to 145 employees.
"We look forward to advancing our dialogue with DCG and the advisors to our creditors as we seek to implement a path to maximize value and provide the best opportunity for our business to emerge well prepared for the future."
Genesis interim CEO Derar Islim said in a statement.
Genesis was hit by the collapse of another cryptocurrency company, Three Arrows Capital, which went bankrupt last June.
It said it was owed $1.2 billion (£971 million) by Three Arrows, which was led to the collapse of cryptocurrencies Luna and TerraUSD in May.
This is the latest in a series of upheavals in the sector, which has been dubbed the "winter of cryptocurrencies" by some analysts, describing the sharp decline in the value of cryptocurrencies.
The ongoing collapse
Genesis is also embroiled in a high-profile dispute with Gemini, which is owned by former Olympic rowers Cameron and Tyler Winklevoss, over the fate of $900 million in assets that Gemini customers deposited with the lender.
The product, called Gemini Earn, was sold to investors as an opportunity to earn as much as 7.4% interest on their cryptocurrency holdings.
Some 340,000 Earn users have been unable to access their funds since November, when Genesis halted withdrawals due to volatility in the cryptocurrency markets.
Last week, the SEC accused both Genesis and Gemini of illegally selling cryptocurrency assets to investors. The Winklevoss twins have said they expect to defend the stock, but DCG has so far not commented.
Genesis' bankruptcy process will be overseen by a special independent committee attached to the company's board of directors and under the eye of Temida. Genesis has submitted a plan to the judiciary to safeguard the interests of creditors and prepare the bankruptcy estate to continue operating under new management.
"While we have made significant progress in refining our business plans to address the liquidity issues caused by recent extraordinary challenges in our industry, including the insolvency of Three Arrows Capital and the bankruptcy of FTX, a court-ordered restructuring is the most efficient way for us to preserve assets and achieve the best possible outcome for all Genesis stakeholders."
Derar Islim said.
Source: www.coindesk.com
CryptoAaron wrote some time ago:
The boom will come when it falls:
- Mine
- Exchange
And what happened? Several mines went down. FTX collapsed, and now another big player - Genesis. We know the internet talks differently, but we believe in CryptoAaron and his predictions!
On Golden Keys and ULTRA beautiful profit plays. Spot portfolios since December at 40-50% gains, and Futures a crazy few percent a day.
Don't wait another few months just start earning now, because you are about to say again that you slept through and the market is not waiting for anyone....
And if you don't want to use ready-made analysis just looking for a course to learn on your own, then GOLD COURSE is perfectly for you.
COMPANY NEWS
- All those who wish to extend their attendance at Golden Keys 2.0 can do so using the discount code HOSSA15. This opportunity lasts until the end of Monday.
- We are about to launch the promotion of our next business & pleasure trip! Stay tuned!
- We cooperate with Cashify.pl exchange offices. On the password Mr.Advice you have a reduced commission up to 2.5%, and for longer and larger cooperation it is negotiable. Normally in Poland the commission on exchange varies between 3-6%, so a really good deal. To arrange an appointment contact 888 764 888 or on Telegram @cashify_moko
- Starting this week on Thursday, CryptoAaron will analyze only one altcoin instead of three. We noticed that 3 altcoins per week create confusion and you buy every project unnecessarily. You should have only a few in your portfolio, the higher the deposit the more, but the point is not to have 100 coins only a few RESPONSIBLE ones.
- We are working on cool projects that we will present soon! 2023 is ours!
THIS WEEK'S SCHEDULE
| MONDAY | 19:00 | Technical analysis of BTC and ETH |
| TUESDAY | 19:00 | Technical aspects |
| THURSDAY | 19:00 | Analysis of altcoin on demand |
Wishing you a wonderful profitable week!
Mr.Advice TEAM
