In this week’s newsletter:
- Bitcoin and Ether Stabilize Ahead of Fed Symposium
- The Safe Way to Accept and Process Digital Asset Payments
- Bitcoin Is Slipping, but One Analyst Sees a Rally as Likely After Powell Speech
- Bitcoin, Ethereum Technical Analysis: BTC, ETH Drop as Key Resistance Levels Hold
- Mark Cuban Slams SEC Chair Gensler’s Stance on Crypto
Read our weekly round up below.
Market Updates by Robert Lynch | Head of Research and Strategy
Robert Lynch – ALT 5 Sigma | August 25, 2022
Friday’s sharp drop in bitcoin and ether serves as a reminder that the recent gains and stability in crypto token prices does not represent a new era of sustainably lower volatility for digital assets. On the contrary, the 9% drop in the major token prices Friday highlights that the road to recovery from crypto winter (which ironically was most intense during the spring months) will not be a straight line to higher valuations and more stable market conditions.
Whether you are a payment processor, merchant or freelancer, ALT 5 Pay crypto payment processor allows you to accept digital assets as payment without the risks associated with market volatility.
Crypto News From Around The World
MarketWatch | August 26 2022
Bitcoin and other cryptocurrencies were slightly lower on Friday as investors awaited a key speech from Federal Reserve Chairman Jerome Powell.
With the market expects a hawkish stance from the U.S. central bank chief, one analyst is eyeing a relief rally. The price of Bitcoin fell 1% over the past 24 hours to $21,400.
A plunge last week brought the largest digital asset tumbling down from $24,000—its highest levels since a dramatic selloff in mid-June—to a recent bottom of $20,800, from which it has been inching higher all week.
Bitcoin.com | August 26, 2022
Bitcoin fell lower on Friday, as the token slipped below a key resistance level during today’s session. Following a mini rally in price this week, bitcoin bears returned to action, as volatility in the market increased. Ethereum was also lower, falling back below $1,700.
Decrypt | August 23, 2022
Billionaire investor Mark Cuban has lambasted the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler for the agency’s unclear regulations, claiming they make it “near impossible” for crypto investors and businesspeople to get clarity from the regulator.
Cuban was responding to Gensler’s recent Wall Street Journal op-ed, in which the SEC boss once again reiterated his focus on investor protection. In the op-ed, Gensler wrote that “there’s no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology.”
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