Bull and Bear Predictions, Attorney General’s Crackdown, and a Thirsty Martha Stewart
Today is a bit of a historic day. Last week I talked about Bitcoin futures, and today it’s officially on the New York Stock Exchange.
I won’t talk too much about it, because everyone is writing about it – but I’m very excited to see this happening. It’s an important milestone for crypto.
Bitcoin has always been the one to pave the way since it was the first bitcoin. And we’ve seen Bitcoin go through cycles, which a lot of analysts use to predict the next bull run and warn of a bear market.
Raol Pal, a prominent crypto analyst, has compared the current Bitcoin cycle we are seeing to the 2012-2013 trend lines and they match up almost perfectly.
In that time frame, we saw Bitcoin jump from about $14 dollars up to around $1,000.
If the trend continues following its previous cycle – his prediction chart shows Bitcoin’s price jumping up drastically and breaking above $250,000.
He has also used the same trend lines to compare what we’ve been seeing in Ethereum to Bitcoin’s 2011 to 2019 run. This model shows an Ethereum high of over $19,000 by March of 2022, followed by a bear cycle for a year or so before going back up.
He also compared Solana to Ethereum’s 2016-2017 run predicting an all-time high of over a thousand by the end of this year, followed by a bear run – but with a low still higher than what we are seeing now.
You can see the link to the graphs by clicking the link in our show notes.
If you’re the type of person that likes to look for the next token that’s super cheap and might explode like Dogecoin – Centric Swap has recently seen a 1,000% increase.
On October first it was trading at .00018 cents and has now increased to .00142.
CNS is part of the Binance chain, and is only available one certain exchanges – so if you want to get it, you may need to open a new wallet.
Of course, be sure to research this token if you are interested and make sure it’s something you believe can succeed. I’m not here to tell you how to invest – just what’s out there.
The New York Attorney General has continued to go after Crypto companies who have been using crypto as securities to offer loans – something that is not legal in the US for consumer protection to ensure things like predatory lending doesn’t happen.
Letitia James has been working hard to crack down on unregistered crypto companies and has sent a cease and desist letter to Nexo and Celsius Network as well as three other unnamed firms.
Nexo has come out and said that they do not offer lending to New York, and are set up for geoblocking IP addresses in areas where lending is not allowed – but plans to fully cooperate with the attorney general.
In other news of people potentially breaking the rules – recently China has experienced a severe power shortage in certain areas.
As a result, it several illegal mining operations were discovered and shut down by tracking energy usage on the state’s owned electrical grid mixed with IP addresses used in the region.
China has continued to work hard on ending bitcoin mining, citing an attempt to lower carbon emissions as a reason for the crackdown.
Well, it’s time to talk about the world of NFTs.
Cryptopunks are the most valuable collection of NFTs so far, and one owner was offered 9.5 million dollars for one of the crypto punks – but they turned it down.
The owner said his punk is not for sale, no matter what anyone offers – which feels a bit like a challenge to me.
The reason is that the owner has built his digital brand and identity on Crypto Punks – which has opened a lot of doors for him in the business world and he has no intention of giving that up.
On that note, there is a new Defi lending platform coming out called Sublime. They don’t lend based on your credit score – but based on your digital identity.
They determine your loans based on your blockchain activity and allow people to tap into their social capital.
Well, Snoop Dogg’s dear friend Martha Stewart is also looking at getting into NFTs.
She’s released her first collection of NFTs today and is looking at creating continual collections based around the holidays. At the moment there are a lot of Halloween NFTs for sale, featuring various carved pumpkins.
It’s also been rumored that she may end up releasing her famous thirst trap selfie as an NFT. Historically, we’ve seen NFTs made from viral items do really well.
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Article Resources:
Analyst lists out these scenarios for Bitcoin, Ethereum, and Solana
This BSC-based token has risen by 1000% already, but is there room for more
NY Attorney General Targets 5 Crypto Companies: 2 Lending Platforms Ordered to Shut Down
Banned Bitcoin Miners Found Exploding China’s State Resources
Why a CryptoPunks Owner Turned Down $9.5M in Ethereum for His NFT
Lending platform Sublime, which lets users stake their ‘digital reputations,’ raises $2.5 million
Martha Stewart is reportedly planning to sell her viral ‘thirst trap’ selfie as an NFT
