Another eventful week as we see the world responds to El Salvador's move to make Bitcoin legal tender. A lot of eyes are fixed on the bitcoin "death cross" where the 200 Moving average crosses above the 50 day moving average.
Major headlines:
- World Bank rejects El Salvador's requests for technical assistance for making Bitcoin legal tender
- Michael Saylor plans to raise an additional $1Bil to buy bitcoin at the dip (institutional buyers are still hungry)
- Iron Finance suffers rugpull/bank run
- HODLers are buying as BTC gets closer to a death cross
- US Republican party accepts crypto as campaign donations
- China cracking down harder on mining. Mining likely will become more decentralized and even cleaner.
Notable events to keep an eye out for:
- Is BTC able to stay above 33-37k (Drop below 30k could spell trouble)
- Is BTC able to find support above 42k? If yes, more bullish
- BTC dominance (recovery = alts take a beating?)
- Death cross on the BTC EMA
- XRP lawsuit (If XRP wins, massive run up as it'll be the first crypto besides BTC/ETH with clearance)
- IMF, World Bank and G7 summit policies