11.05.22 - 16.05.22
Last week results
Instruments:
In the last seven days, the sell-off in the cryptocurrency markets has intensified. Digital assets collapsed amid a strengthening dollar and the US Federal Reserve's interest rate hike.
MicroStrategy's report shows that the company's average BTC purchase price is $30,700. The company will receive a margin call on its position in BTC if the first cryptocurrency falls to $21,000. However, the company's CFO urged investors not to worry as the company will be able to easily raise funds for collateral.
El Salvador has postponed the issuance of BTC bonds for an indefinite period, citing volatility in global markets. Previously, reports indicated that investors were afraid to buy El Salvador's BTC bonds because of the country's disagreement with the IMF over the legalisation of Bitcoin.
MicroStrategy's report shows that the company's average BTC purchase price is $30,700. The company will receive a margin call on its position in BTC if the first cryptocurrency falls to $21,000. However, the company's CFO urged investors not to worry as the company will be able to easily raise funds for collateral.
El Salvador has postponed the issuance of BTC bonds for an indefinite period, citing volatility in global markets. Previously, reports indicated that investors were afraid to buy El Salvador's BTC bonds because of the country's disagreement with the IMF over the legalisation of Bitcoin.
These week’s key events
In the last seven days, the sell-off in the cryptocurrency markets has intensified. Digital assets collapsed amid a strengthening dollar and the US Federal Reserve's interest rate hike.
MicroStrategy's report shows that the company's average BTC purchase price is $30,700. The company will receive a margin call on its position in BTC if the first cryptocurrency falls to $21,000. However, the company's CFO urged investors not to worry as the company will be able to easily raise funds for collateral.
El Salvador has postponed the issuance of BTC bonds for an indefinite period, citing volatility in global markets. Previously, reports indicated that investors were afraid to buy El Salvador's BTC bonds because of the country's disagreement with the IMF over the legalisation of Bitcoin.
MicroStrategy's report shows that the company's average BTC purchase price is $30,700. The company will receive a margin call on its position in BTC if the first cryptocurrency falls to $21,000. However, the company's CFO urged investors not to worry as the company will be able to easily raise funds for collateral.
El Salvador has postponed the issuance of BTC bonds for an indefinite period, citing volatility in global markets. Previously, reports indicated that investors were afraid to buy El Salvador's BTC bonds because of the country's disagreement with the IMF over the legalisation of Bitcoin.
Bitcoin approaching breakeven levels
Bitcoin (BTCUSDT) remains under pressure and is testing July 2021 lows. However, the price is now testing a strong support level in the range of $29,000-30,000 and has every chance of rebounding. A year ago, Bitcoin surged from these prices and set all-time highs.
Here are three reasons to buy Bitcoin right now:
● Tether printed another 1,000,000,000 USDT on 9 May. Traditionally, USDT has been used to buy cryptocurrencies, including Bitcoin. The times when issuance takes place in such substantial portions as 1 billion USDT deserve particular attention. This suggests that the BTC exchange rate is likely to be held, and a rise is quite possible.
● According to Santiment, the small participants' level of fear is extremely high. For the most part, this means that they'll surrender and sell off. As such, large participants with a longer investment retention horizon are becoming BTC holders.
Fig. BTC social sentiment. Source: Santiment
● Technical analysis: Bitcoin has been unable to drop below the strong support level at $29,300. While the cryptocurrency is above this mark, its value retains the chances of rising and could be a good buying point with the next target at $37,000.
Seize the opportunity and enter a position at the right time.
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