Weekly Crypto Market Overview

First up, we have a few key indications which point towards bitcoin returning to all time highs in the not so distant future:

1) MOVING AVERAGES MIMIC HISTORICAL PATTERN FROM 2015

2) RELATIVE STRENGTH INDEX RAGES BULLISH

3) THE BITCOIN PRICE FORMED A ‘GOLDEN CROSS

Of course we’re not financial advisers, but these patterns are very encouraging, and it seems more obvious every day that we are truly in a new market cycle. Invest wisely!

https://www.ccn.com/3-reasons-bitcoin-will-race-toward-a-new-record-high-at-20000

🙄Next we have another classic headline from an investing legend Warren Buffet. Speaking at the “Woodstock of Capitalism” Buffet chimed in saying (about bitcoin): “It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything.” Buffet has been notorious to not see value in bitcoin and has avoided it outright. It’s not entirely surprising as people in his age range typically do not understand the technology.

https://www.ccn.com/warren-buffett-gambling-bitcoin

🤫Following we have a short article about one of the favorite characters in all of cryptocurrency: Carlos Matos. Matos, who is widely known as the enthusiastic mouthpiece for the crypto ponzi scheme Bitconnect laments on other scams he’s fallen victim to over the last few years, as Bitconnect was not his first. It is relatively sad to hear stories like this, but we can’t help but be reminded of Matos’ unbridled enthusiasm and energy that instantly brings a smile to our face. We wish Carlos the best of luck moving forward!

https://www.ccn.com/infamous-bitconnect-promoter-claims-victimhood-says-it-wasnt-his-first-scammers

🤪The cryptocurrency exchange Bitfinex which has been embroiled in scandals as of late when they were accused of engaging in practices similar to fractional reserve banking regarding tether reserves is planning to do a $1 billion IEO. Initial exchange offerings are the newest and hottest fundraising style in the business next to STOs (security token offerings). The news was just confirmed as Dong Zhao tweeted about the news and the token that is intended to be the utility token at the heart of the company’s ecosystem. It will be interesting to watch as this story develops.

https://cointelegraph.com/news/bitfinex-official-doc-confirms-plans-to-raise-up-to-1-billion-in-ieo-for-its-token-leo

We have further bullish information coming from Wall Street, as they are gradually warming up to cryptocurrency. Ran Neuner who is the host of Africa’s Crypto Trader recently tweeted about how they are preparing for the next season of the show in which they will launch from Times Square on May 9. The Nasdaq studio is in the middle of all the action and could be visible to the tons of people passing by on their way to and from work, not to mention tourists.

https://www.ccn.com/crypto-invades-nasdaq-institutional-adoption

We wish everyone a happy and productive week. Cheers!

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