Good morning!
BTC is touching $66,000 this morning with many of last weeks losses almost being eradicated. Judging by the technical charts, it would suggest that there is an upcoming boost in price coming with a bullish continuation pattern forming on the weekly chart.
On Friday we saw $62,500 being defended and a subsequent recovery of price which then established a new higher low on the daily chart and confirmed a breakout this morning, again signalling a bullish pattern forming.
Last week we saw a new ATH of $68,990 for bitcoin before a sharp return back to $62,500 following the news of US inflation data. Despite this, Singapore based crypto exchange, Eqonex, expects the cryptocurrency to further rally to $88,000 based on technical analysis.
Signs are pointing in the right direction but as always with bitcoin and other cryptocurrencies, nothing is given and always expect the unexpected.
Let’s get started.
Markets
As of 15th November 2021
(source: coinmarketcap)
Headline roundup
Swiss digital asset exchange SDX outlines priorities (LI)
Coinbase allows users to share info about crypto holdings with friends (CD)
Blockchain used to improve security road tolls (LI)
SEC rejects VanEck’s spot bitcoin ETF proposal (CD)
Stablecoin issuer Circle launches venture fund (LI)
Sotheby’s to allow live bidding in ether for works by Banksy (CD)
AMC theatres to accept bitcoin, ether for online payments (LI)
Miami to give ‘bitcoin yield’ from MiamiCoin to its citizens (CD)
DTCC to support private digital stocks on public blockchain in early 2022 (LI)
Mastercard outlines 3-pronged strategy to support the growing crypto community (CD)
Commonwealth Bank confirms cryptocurrency offering (LI)
CBDC
China catches fraudsters using CBDC for money laundering (LI)
Consensys, Visa, G+D amongst winning global CBDC Challenge teams (LI)
Singapore launches retail CBDC platform Forte’s $725m funding (LI)
VC
Blockchain play to earn Mythical Games rasies $150m at $1.25bn valuation
Saddle raises $7.5 to reduce slippage in DeFi trading (CD)
Lending network Celsius acquires crypto custody firm GK8 (PR)
Polkadot DeFi Darling Acala has gathered over $600m and counting (CD)
MineOne raises over $20m in first funding round (CD)
CoreWeave rasies $50m in new funds from Magnetar Capital (CD)
Meme of the week
About Me
My name is Michael Burke, and I started working in the blockchain space about 4 years ago, firstly with Deloitte, now with R3, where I help our customers build enterprise solutions utilising the Corda platform. My interest in blockchain and cryptocurrency stems from the sheer potential of the technology to completely transform industries and value chains for the better.