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Riding The Wave
Riding The Wave News Summary 125

Riding The Wave News Summary 125

Crypto ends February flat as 2023 rally stalls, Visa Says It's Not Slowing Down Plans for Crypto Products, & more.

Thomas Holland's avatar
Thomas Holland
Mar 01, 2023
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Riding The Wave
Riding The Wave
Riding The Wave News Summary 125
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Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here


News

Table of Contents

  1. Tweets

  2. Crypto ends February flat as 2023 rally stalls

  3. Visa Says It's Not Slowing Down Plans for Crypto Products

  4. Upcoming Upgrades That Will Shape the Ethereum Ecosystem

  5. Decentralized Twitter Spin-Off Bluesky Now on App Store in Beta


Tweets

Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: #Binance launches AI NFT generator beta version named Bicasso.
Image
2:35 PM ∙ Mar 1, 2023
1,284Likes230Retweets
Twitter avatar for @BTC_Archive
Bitcoin Archive @BTC_Archive
NEW: VISA VP confirms it will continue to partner with #Bitcoin and crypto firms, refuting reports of a pause.
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3:04 PM ∙ Mar 1, 2023
1,532Likes327Retweets
Twitter avatar for @rektcapital
Rekt Capital @rektcapital
March is here and it is officially ~397 days before the next #BTC Halving $BTC tends to break its Macro Downtrend 366-396 days before the Halving #Crypto #Bitcoin
Image
2:20 PM ∙ Mar 1, 2023
306Likes61Retweets
Twitter avatar for @MatthewHyland_
Matthew Hyland @MatthewHyland_
#Bitcoin 3-Day MACD bear cross once again potentially looming Saw this a few weeks ago right before the pump to $25k Pressure on BTC to make a move to avoid it again
Image
7:35 PM ∙ Feb 28, 2023
307Likes31Retweets
Twitter avatar for @WhaleChart
whalechart 🐳 @WhaleChart
BREAKING: Bank of America expects a recession in the US economy by the third quarter.
9:23 AM ∙ Mar 1, 2023
412Likes87Retweets
Twitter avatar for @StackerSatoshi
Satoshi Stacker @StackerSatoshi
🇺🇸 Bank of America says Federal Reserve may increase interest rates to 6%. Not great news for high risk assets. Not great for… assets. 🥶
4:10 PM ∙ Feb 28, 2023
171Likes17Retweets
Twitter avatar for @rektcapital
Rekt Capital @rektcapital
#BTC Monthly RSI has broken back into the red Macro Wedge Orange dashed Lower High (i.e. Macro Wedge mid-point) could act as a resistance in future to cause the first major dip for the RSI Until then, strong multi-month RSI uptrend looks likely $BTC #Crypto #Bitcoin
Image
1:35 PM ∙ Mar 1, 2023
177Likes20Retweets
Twitter avatar for @WhaleChart
whalechart 🐳 @WhaleChart
BREAKING: ​Ripple is in dialogue with over 20 central banks on CBDCs
1:03 PM ∙ Mar 1, 2023
1,566Likes318Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: 🇬🇧 Bank of England says a digital pound (CBDC) could protect consumers.
2:38 PM ∙ Feb 28, 2023
1,818Likes329Retweets
Twitter avatar for @100trillionUSD
PlanB @100trillionUSD
If bitcoin adoption is now 1-5% then we will enter the vertical of the S-curve next couple of years. On log scale (left) this just means more exponential growth until 50% adoption. For the linear thinkers (right) everything will change. Bitcoin might be substantially undervalued.
Image
Image
2:15 PM ∙ Feb 28, 2023
2,117Likes334Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: Former FTX director of engineering pleads guilty to US criminal charges.
4:30 PM ∙ Feb 28, 2023
1,774Likes312Retweets
Twitter avatar for @callieabost
Callie Cox @callieabost
In the past seven economic cycles, the economy has fallen into a recession any time from four to 20 months after peak consumer confidence. This time around, we're 20 months past peak consumer confidence...with no recession in sight Most anticipated recession ever.
Image
8:51 PM ∙ Feb 28, 2023
46Likes10Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: Visa & Mastercard pause launch of #crypto products until market conditions and regulation improves.
3:05 PM ∙ Feb 28, 2023
3,566Likes670Retweets
Twitter avatar for @DocumentingBTC
Documenting ₿itcoin 📄 @DocumentingBTC
₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚 New record #bitcoin hashrate 360,000,000,000,000,000,000x computations every second
Image
12:38 PM ∙ Feb 28, 2023
3,302Likes734Retweets
Twitter avatar for @intocryptoverse
Benjamin Cowen @intocryptoverse
Sometimes it feels like we live in a simulation
Image
7:53 PM ∙ Feb 27, 2023
4,074Likes448Retweets
Twitter avatar for @WClementeIII
Will Clemente @WClementeIII
During every bear market, short-term tourists leave, but an increasing number of Bitcoin network users stick around. This is the signal.
Image
3:12 PM ∙ Feb 27, 2023
1,431Likes148Retweets
Twitter avatar for @WClementeIII
Will Clemente @WClementeIII
There is now more Bitcoin that hasn't moved in at least 10 years than there is on exchanges. Wild stat. (h/t @jimmyvs24)
Image
11:02 PM ∙ Feb 27, 2023
2,117Likes320Retweets
Twitter avatar for @KobeissiLetter
The Kobeissi Letter @KobeissiLetter
So far, we’ve had: 1. January CPI above expectations 2. January PPI above expectations 3. January jobs above expectations 4. January PCE above expectations and RISING 5. December CPI/PCE “revised” higher Imagine if February CPI shows rising inflation. It won’t be pretty.
8:09 PM ∙ Feb 27, 2023
516Likes77Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: Coinbase to suspend #Binance USD $BUSD stablecoin trading.
4:11 PM ∙ Feb 27, 2023
6,414Likes1,316Retweets
Twitter avatar for @unusual_whales
unusual_whales @unusual_whales
Bank of America, $BAC, CEO Brian Moynihan has said to prepare for a US debt default and a recession.
2:01 AM ∙ Feb 27, 2023
3,202Likes572Retweets

Crypto ends February flat as 2023 rally stalls

Christopher Newhouse, a crypto options trader with GSR, said the February action in bitcoin was "definitely more boring for directional trading than in January."

As Newhouse explained, crypto derivatives trading volume remained high in February but volatility fizzled over the month. Bitcoin is still the most popular cryptocurrency for traders, but in recent weeks those bets "toward the end of the month have been mixed or slightly bearish."

Over the same period, the major U.S. indexes were lower, with the benchmark S&P 500 (^GSPC) falling 2.5% during the month.

"There's still optimism that things will start to get figured out in the coming months," Safai added, pointing to longer-dated bitcoin call options placed this month with a strike price of $30,000.

Since the beginning of 2023, bitcoin watchers have focused closely on whether bitcoin's price can breach $25,000. Between February 19-20, the level was briefly reached. Bitcoin has since fallen more than 6% and is currently changing hands near $23,200.

“Bitcoin is comfortably in a trading range and that might be the case for a while longer,” said Edward Moya, senior analyst with Oanda.

Ethereum is also drawing more attention as it nears its next protocol upgrade slated for early April.

"Generally, Ethereum has underperformed over the last six weeks," strategists at Fundstrat said in a note on Monday. "This looks to be changing."

Full Article


Visa Says It's Not Slowing Down Plans for Crypto Products

Payments company Visa has said it is not slowing down with its cryptocurrency plans—despite news reports hinting otherwise amid a brutal bear market.

The U.S. company’s Head of Crypto Cuy Sheffield said in a series of tweets Tuesday that a Reuters story claiming both Visa and Mastercard were slowing down their crypto push was “inaccurate” when it comes to Visa.

He added that “despite the challenges and uncertainty in the crypto ecosystem,” Visa believes that “fiat backed digital currencies running on public blockchains have the potential to play an important role in the payments ecosystem.”

The company had announced plans to roll out cards to 40 new countries as part of a “long-term global partnership”—but pulled the plug when the crypto company went bust.

FTX went bankrupt in a highly publicized crash and is now being investigated for criminal mismanagement. Prosecutors allege the firm commingled customer funds; its ex-boss Sam Bankman-Fried is now facing 12 criminal charges.

A Visa spokesperson told Decrypt: “Recent high-profile failures in the crypto sector are an important reminder that we have a long way to go before crypto becomes a part of mainstream payments and financial services.”

Full Article


Upcoming Upgrades That Will Shape the Ethereum Ecosystem

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