Die Finanzaufsicht von Oregon hat Anleger dazu aufgerufen, genau aufzupassen und zu recherchieren, bevor sie Geld an eine Krypto-Plattform senden.
Bitcoin (BTC) besser als Tesla – Kurs trotz massiver Einbußen im Vorsprung
Trotz des anhaltenden Bärenmarktes ist die marktführende Kryptowährung in diesem Jahr stärker als die Aktie des großen Autobauers.
Bitcoin holding $16K amid worst annual performance since 2018
- Bitcoin was changing hands near $16,600 on Wednesday, about 1% down in the past 24 hours.
- The cryptocurrency is heading for its worst yearly returns since 2018.
- Stocks have also hit a brutal patch in 2022, with major US indexes headed for their worst annual returns since 2008.
Bitcoin remained uncharacteristically uneventful on Wednesday, trading around $16,600 as investors weighed an end to a brutal 2022.
The benchmark cryptocurrency was just in the red during early afternoon trading (2:10 pm ET) as Wall Street also turned negative amid fading optimism over China’s reopening.
Markets to end 2022 lower
In crypto, Bitcoin volatility has been at its 2022 low this week, with the surge towards $17,000 cooling off to leave the cryptocurrency 67% down in the past year.
In fact, 2022 is shaping as the year with the second-worst returns for BTC since 2010. The digital gold’s performance during this markedly bear year has the asset on track for a worst return since the 73% drawdown in 2018.
In the 2014 bear market, Bitcoin price fell 58%, with other years with lower returns being +35% in 2015 and +66% in 2021 – indeed Bitcoin is more than 75% down since its all-time high in 2021.
As Bitcoin struggles to hold onto gains above $16k, the picture across the stock market is similar for the major US indexes. The S&P 500 is down 4.1% this month and over 20% year-to-date, while the Dow and the Nasdaq are -2.5% and -7.1% over the past 30 days respectively.
The historically bullish season for equities has been largely negative, with ongoing investor jitters around inflation and rate hikes, and the overall outlook for the global economy, adding to the downward pressure that has persisted for most of the year.
As such, while Bitcoin is set to see its worst yearly performance since 2018, US stocks are poised for their worst annual returns since 2008.
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Santiment says Cardano sellers are getting exhausted but does price action show it?
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Cardano lost 3.22% on Wednesday to hit the lowest in the year at $0.25
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Santiment data holds that bears are decreasing in numbers and losing control
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ADA price action is extremely bearish, and lower prices are possible
Cardano (ADA/USD) looked headed for a new low on Wednesday as the price lost 3.22% to trade at $0.25. The price was the lowest in the year, with ADA still likely falling further. However, Santiment data could revive hopes, although ADA bulls would be disappointed that the price action isn’t positive.
According to Santiment, ADA sellers are getting exhausted, while the cryptocurrency is “severely undervalued.” As ADA trades on a system of lower lows and lower highs, Santiment points out that there is falling selling power. The insights platform shows that as the token makes one downward movement, fewer coins are marked with a loss on the network. This has been interpreted as the strongest reversal sign as bears are gradually losing power.
Besides, whale accumulation has been on the rise for Cardano in the last six weeks. But as you are too aware, Cardano has seen whale activity for a larger part of 2021. That has been interpreted to mean that whales are attracted to the low valuation of Cardano. However, this does not tell about the short-term price action since whales are believed to accumulate for the longer term.
ADA on a new low as price weakens on a descending channel
On the daily chart, Cardano has maintained the descending channel with limited price surges. The price has mainly traded at the bottom of the descending channel range, indicating that bulls are keeping off. The RSI shows that ADA is currently oversold.
Which way, Cardano?
It could be premature to buy ADA, despite Santiment data suggesting bear exhaustion. There is no clear bullish reversal, and we maintain a downtrend bias. From a technical point of view, a clearance of the descending channel is the needed confirmation for a bullish reversal.
Where to buy ADA
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
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MicroStrategy buys another 2,500 BTC to bring total to 132,500
- MicroStrategy reportedly bought approximately 2,500 BTC between 1 November and 24 December, 2022.
- The company now holds 132,500 BTC acquired for approximately $4.03 billion.
- MicroStrategy did however sell 704 BTC for $11.8 million on 22 December for what it termed as tax benefits.
MicroStrategy, a publicly traded company that’s the world’s largest corporate holder of Bitcoin, has reported buying more of the flagship cryptocurrency even as the market hit turbulence beginning early November.
As per the filing submitted on 28 December to the US Securities and Exchange Commission (SEC), MicroStrategy says it purchased an additional 2,500 bitcoins between 1 November and 24 December, 2022.
Altogether, the software analytics and business intelligence firm purchased Bitcoin worth approximately $56.4 million in nearly two months and $4.03 billion in total.
MicroStrategy now holds 132, 500 bitcoins
As crypto navigated the turmoil caused by FTX’s collapse that had crypto price tapping new multi-year lows, MicroStrategy saw an opportunity to buy Bitcoin. In short, the company added 2,395 bitcoins worth $42.8 million to its holdings between 1 November and 21 December, 2022.
The total BTC acquisition in this period cost the firm $42.8 million at an average purchase price of $17,871 per coin.
On 22 December, 2022, MicroStrategy sold 704 bitcoins for $11.8 million. According to the company, the sale was at an average price of $16,776 per coin. Although the sale was at a loss, the company plans to offset the capital losses against capital gains made earlier.
Despite the BTC sale, MicroStrategy went to the market again on 24 December 2022. It bought another 810 bitcoins at an average price of $16,845 and for a total outlay of $13.6 million. By 27 December 2022, the company had added 2,500 bitcoins at a total cost of $56.4 million.
As of this report, MicroStrategy had increased its Bitcoin holdings from 130,000 BTC at the end of October to 132,500 bitcoins by 27 December, 2022.
The recent purchases means MicroStrategy has spent $4.03 billion on acquiring BTC since its first purchase in 2020. The coins’ average purchase price currently stands at $30,397 per bitcoin.
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