31.01.[News of the day] Peter Brandt says it may be time to buy BTC and other articles

Welcome to today’s overview:

MARKETS

BTC analysis – the price is falling again. Which level of support must BTC maintain?

Chainlink analysis – bounce from the main support. Did the price find the bottom of the correction?

Cryptocurrencies

Salvadoran President Bukele firmly believes that the “gigantic rise in the price of BTC” is only a matter of time

The global crypto market fell to $ 1.67 trillion due to the decline that affected BTC and other crypto assets. Although the downward trend is not over, BTC evangelists remain optimistic about the future.

Salvadoran President Nayib Bukele recently explained on Twitter why a “gigantic price increase” awaits the flagship cryptocurrency. Bukele noted that there are more than 50 million millionaires in the world, while there are only 21 million BTC. If all the millionaires decided that each of them would own at least one BTC, there would not be enough coins for everyone. This would in turn trigger a parabolic price increase.

Peter Brandt says it may be time to buy BTC

Trade veteran Peter Brandt indicated in a recent tweet that it might be time to buy BTC. Brandt said the market mood had become too bearish and therefore believed that the cryptocurrency was likely to go up.

I find it fascinating that many (not all) on social media who wore laser eyes in Mar/Apr and predicted a rocket shot 🚀for $BTC in Nov now are predicting that the $30k level will be violated

When bulls wear laser eyes — time to SELL
When bulls become bears — time to BUY???? pic.twitter.com/ytchaFLDfN

— Peter Brandt (@PeterLBrandt) January 30, 2022

Buying assets at a time when the market is afraid is one of the most popular principles of contrarian investing.

He also added a price chart that shows that BTC is creating a declining channel on the weekly chart. Although such patterns are considered bearish in the short term, the flagship cryptocurrency is likely to grow further if the bulls cross the upper trend line.

Brandt reiterated in his tweet that editing BTC images by adding laser eyes is an eloquent sign of the top of the market.

Banks, crypto exchanges, companies

MicroStrategy is organizing the second conference Bitcoin for Corporations

Microstrategy, a software giant listed on the stock exchange, will host a two-day virtual event to introduce large companies to the benefits of putting BTC on their balance sheets and many other cryptocurrency-related initiatives.

Michael Saylor, CEO of MicroStrategy and a prominent BTC bull, announced the event on his Twitter account on Sunday and said it would be for corporations interested in integrating BTC into products, services or balance sheets.

If you are a corporation interested in integrating #bitcoin into your products, services or balance sheet, join us next week. You will hear from experts in bitcoin strategy, treasury, accounting, law, technology, trading, custody, payments, & banking.https://t.co/V9fIkv633q

— Michael Saylor⚡️ (@saylor) January 30, 2022

Saylor will be a speaker, who will be joined by Block CEO Jack Dorsey, MicroStrategy CFO Phong Le, Lolli Communications Manager Aubrey Strobel and others.

Bitcoin for Corporations, as the event is called, will begin on February 1 from 12:00 to 16:00 EST and will be opened by Keynote with a speech by Saylor and Dorsey. On the second day (February 2), panels of the largest American crypto exchange Coinbase, the giant asset manager Fidelity, NYDIG, BitPay, Paxos and others, will take place at the same time.

CBDC, Regulation

Small investors in Hong Kong have been blocked from accessing spot Bitcoin ETFs

Hong Kong financial regulators issued new guidelines on Friday that restrict retail investors’ access to financial products that invest directly in digital assets.

In a joint circular issued by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), regulators imposed restrictions on the sale of non-derivative products such as crypto spot exchange traded funds (ETFs), including foreign products, to be offered only to professionals. investors.

A professional investor is defined in Hong Kong as an individual with a portfolio of at least approximately $ 1 million.

Authorities have indicated that cryptocurrency spot markets are “currently largely unregulated” and may pose a higher risk to investors with less experience and knowledge.

Territory in the North East of Australia is launching its own CBDC

Yidindji Sovereign Government (SYG) in North East Australia has issued the Central Bank’s Digital Currency (CBDC) and the MetaMUI digital identity card system. The indigenous people of Yidindji have lived in this area for more than 60,000 years and in 2014 they founded SYG.

SYG and the Australian government, including the prime minister, are currently negotiating a formal agreement between the two governments, SYG Secretary of State Murrum Walubar said. The sovereign Yiddish dollar issued by the territory’s central bank has so far only been issued through the territory’s postage stamps.

About 100 SYG citizens can use their new CBDC and digital ID for transactions at local businesses in the area, as well as for official government services.

A former BOJ official warns against using digital yen in the financial sector

According to a report published in the Japan Times, Hiromi Yamaoka, a former head of the BOJ’s financial settlement department, does not recommend using digital only as part of the country’s monetary policy.

Yamaoka is most concerned about negative interest rates and believes that once digital becomes a major tool for mass payments, the general public would have to bear the brunt of the declining fiat currency. He also warned that digital could only pose a risk to financial stability and could have catastrophic consequences for the economy.

Yamaoka currently operates in the private sector and chairs a forum of 74 companies, including some of the largest banks in the country. The forum is currently working on launching a private digital currency in April this year.