#81 NEWSLETTER Mr.Advice
At which McDonalds will you pay with Bitcoin and what is the market like today?
Good evening and enjoy your reading!
MARKET ANALYSIS BY CRYPTOAARON
Last week was very "interesting" for the Crypto market. You can say very bloody on altcoins, when looking at BTC itself, it really holds up quite well. For some, it was a difficult time, the account shows much less, and some probably suffered liquidations on leverage, incurring a painful lesson. Weeks like these in the bull market will be at least 2-4x more, so from here I reiterate: you can play big positions, without SL and make the account x few, however, one day, you will zero out. It comes sooner or later. Remember, probably strong increases ahead, so hold capital for this time !
In short, if we close today on the weekly candle with a body above $27100-27200, we are likely to return to growth. Next resistances: $27700-27800 and $28600-28800, then just 30K or even 32K. If the price does not close above, it can probably go down to the $26150-26400 zone from where it can rebound. The least expected target is a descent to an even lower low, where a ceiling of $25100-25500 seems attractive. The maximum there is for the whole upward movement is $24.3K.
ETH, on the other hand, is stronger than BTC, holding bravely. The zone up to $1700 holds ETH, so the space to take a position is quite large. Anything below $1800 is currently quite attractive or a future move.
Targets: $1855/ $1920/ $1990/ $2085.
INTERESTING ALT FROM CRYPTOAARON
Of the altcoins, ARB looks interesting, having not fallen as hard as the rest of the projects and reacting interestingly on rebounds. The $1.10-1.17 level seems quite an interesting price long-term.
Next week will be crucial !
Good luck !
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NEWS FROM THE WORLD OF CRYPTO
Liechtenstein open to cryptocurrencies
Daniel Risch, Liechtenstein's prime minister, said recently that the country's government is considering accepting Bitcoin (BTC) as payment for official services. Risch says the plan calls for the immediate conversion of any cryptocurrency received into Swiss francs. This is done to reduce the dangers of exchange rates. As the prime minister stated, the franc is the official currency of the principality, and Bitcoin would not have the same status as the franc, in an interview with the German daily Handelsblatt published on May 7. Although he did not give many details about the plan, he mentioned that "a Bitcoin payment option is coming."
Both Zug and Lugano in Switzerland have adopted a method of accepting Bitcoin payments that is somewhat similar to this one. There, local authorities have taken steps to legalize the use of Bitcoin payments to pay certain taxes and fees related to public services. Even McDonald's will accept Bitcoin if you are in Lugano.
Liechtenstein regulations friendly to cryptocurrencies
Moreover, this is not the first time that news of Liechtenstein's cryptocurrency-friendly regulations has made headlines; it marks only the latest instance. With the passage of the blockchain law in 2019, Liechtenstein became one of the first governments in the world to establish special regulations related to cryptocurrencies. Since then, the country has seen the establishment of a wide variety of businesses with a focus on cryptocurrencies. Along with the other principalities in Switzerland mentioned earlier, Liechtenstein has emerged as one of a select few financial centers in Europe that cater to the growing market for cryptocurrency banking and investment services.
Companies like the Liechtenstein Cryptoassets Exchange (LCX), which is also based in the "cryptocurrency valley" of Zug, show how the Alpine country is modernizing its centuries-old banking industry. Places like Liechtenstein are gradually carving out a specialized niche in the global cryptocurrency industry, combining a progressive legislative stance with their well-developed financial services companies.
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THIS WEEK'S SCHEDULE
|MONDAY||19:00||Technical analysis of BTC AND ETH|
|THURSDAY||19:00||Analysis of altcoin|
Have a good week!