Bitcoins opens at $38K. It hits lowest at $37K and highest at $40K and stable around $39K ~ $40K. The average transaction fee is $2.48 which is 2.48% decrease from 07-28-21. 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’s sentimental news and comments:
Bullish News 📈
It seems migration of mining from China has completed. It definitely created a new era of mining which is more democratic and spread around the world.
It seems that the exchange of the crypto era is coming to an end. Massive movement of Bitcoin has withdrawn out and regulations continue pounding the exchange.
Algorithmic stablecoins promise to reduce volatility. However, it is still a risk. But such breakthroughs may prove algorithm trading is a way for the future.
New types of Bitcoin mining investment helps retirement accounts to trigger a taxable event which is a breakthrough for Bitcoin investment.
Robinhood goes into DeFi? Rumor suggests that Robinhood may partner with Uniswap to roll out DeFi products in the app. It does not help its IPO.
Bearish News 📉
Wealthy clients are FOMO now because of crypto pumps in the past. They are likely and slowly moving into crypto funds now.
Robinhood IPO may send crypto market both ways. Surge high or disappointed down.
New infrastructure bill costing $30 Billion dollars will seek crypto taxes to fill up the void. Your crypto profits may likely be cut in half?!
Also, if you have any suggestions, please do not hesitate to let me know!
Thanks for reading and see you tomorrow!
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