Bitcoins opens at $40K. It hits lowest at $39K and highest at $42K and stable around $40K ~ $41K. The average transaction fee is $2.48 which is 1.20% decrease from 08-05-21. Fear and Greed level is at 50.
Here are some highlights to support my analysis:
Bitcoin Value = $28k ~ $40k and my position is Long.
Today鈥檚 sentimental news and comments:
Bullish News 馃搱
Mega Bitcoin whales are disappearing because they continue selling their coins and redistributing them to others. It is sustainable and helps the network with extra liquidity to move the market forward.
Nigerians move $40 million P2P Bitcoin trading in a month. There is a rising adoption from West Africa.
Bearish News 馃搲
The U.S. infrastructure bill taps into crypto for tax and it gets real as the Treasury hits hard on crypto investment that attracts institutional investors.
I wrote an article about Defi and traditional swap in financial markets. Now, the government thinks crypto may implement similar swap regulation. I think they read my article here, lol.
Crypto banning in China helps electric vehicle adoption. It frees up energy from crypto mining to power the EV battery. Either way Elon Musk will benefit from one and another.
Also, if you have any suggestions, please do not hesitate to let me know!
Thanks for reading and see you tomorrow!