Following the fall of BTC dominance, ALTs are showing strength and pumping to catch up with BTC.
BTC has broken over $30,400 and is currently trading at $30,800 after the US dollar started to fall to provide support. The long-term target for BTC is still $32k, but the end of the week can be risky for new long positions.
ETH has hit its long target and is now pumping towards the next resistance level. It is looking mega bullish and is good for long continuation. ETH is leading the altcoin market towards a pump.
XRP is attempting to break the $0.54 resistance level and is looking bullish for the next leg up. It is still good for a spot long position, but leverage positions should be avoided.
LINK has finally made a push over $7.4 and is looking bullish for the next leg up. It is great for a spot buy for the long term.
SOL is looking mega bullish for the next leg up. It needs to break the $27 resistance level before reaching the next price range target of $30-35. It is good for a spot long position in the longer term.
DXY has dropped like a bomb and is now at a crucial support level of 100.8, which is the last line of defense before a big break down. If DXY breaks 100.8, it will pump BTC even more.
Crypto/stock daily news:
THE ANTI-CRYPTO ASSOCIATION HALL OF FAME
Crypto has gained millions of fans. But it’s also gained millions of haters.
From regulators to politicians to my Aunt Mary – crypto has more haters than the Department of Motor Vehicles.
The biggest hater? Warren Buffet. And the Oracle of Omaha is back again with some new hate…
This time, Warren Buffet called Bitcoin a gambling token. *gasp* I know, I know. Those are fighting words…but this isn’t the first time Buffet has been vocal about crypto.
In April 2018, he called it “rat poison”. Bitcoin is up over 350% since.
In May 2022, he said he wouldn’t “pay $25 for all of the Bitcoin in the world”. At the time, BTC had a ~$650B market cap and was worth 6x Buffet’s net worth. He couldn’t buy all the BTC even if he wanted to.
Buffet hates crypto like my grandpa hates GPS – he still uses an old paper map & compass to find his way around. You can’t teach an old dog new tricks.
But it got us thinking about other famous/rich people that have spoken out against crypto. Let’s jump into the time machine and look at some others.
We present to you, the Anti Crypto Association (ACA) hall of fame:
1/ Charlie Munger
Who is he? A legendary investor and the vice chairman of Berkshire Hathaway. He’s worked with Buffet since 1978. If Buffet is Batman, Munger is Robin.
What has he said?
“It’s just ridiculous that anybody would buy this stuff…it’s massively stupid.”
“It’s worthless, it’s no good, it’s crazy, it does nothing but harm and it’s anti-social”
“Disgusting and contrary to the interests of civilization”
You can say a lot of things about crypto, but anti-social? I guess ol’ Charlie has never tuned into Discord or Crypto Twitter before.
2/ Jim Cramer
Who is he? The notorious host of Mad Money on CNBC. In recent years, he has been better known for his never-ending list of bad calls. There’s even an Inverse Cramer ETF.
What has he said?
Last December, Jim urged investors that “it’s not too late to sell”. Bitcoin is up 76% since then…
He doubled down in January saying “Good chance AGAIN to get out of crypto.” BTC jumped from 16k to 20k the next day.
Safe to say his credibility has been down only.
3/ Elizabeth Warren
Who is she? A well-known U.S. Senator, and the fearless leader of the anti-crypto army.
Here’s her crypto resume:
Followed up the FTX collapse with an article warning crypto would end in “crippling losses”. Since this was published, BTC has almost doubled.
Proposed the “Digital Asset Anti-Money Laundering Act”, which essentially aimed to make crypto, “not-crypto”. However, it would do little to prevent the next FTX.
Is focusing her re-election campaign on the power of her anti-crypto army.
Live look at Elizabeth’s war on crypto:
4/ Jamie Dimon:
Who is he? A wildly successful businessman. He currently serves as the Chairman and CEO of JP Morgan Chase.
So what does the big boss of banking have to say about crypto?
In 2017, Jamie called Bitcoin a fraud and later doubled down, predicting it could be “shut down by the government.” Two years later, JP Morgan became the first U.S. bank to launch its own cryptocurrency.
He took things further saying he would “fire any of his traders if they were dumb enough to buy Bitcoin.” Not long after, Jamie started to discuss the potential that blockchain technology brings. And in 2021, his investment clients got direct access to invest in crypto funds.
Jamie kind of sounds like the parent that creates a swear jar for his kids, but ends up filling the thing himself. Or throws the whole thing out entirely.
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Sentiment Is now BULLISH and real test for bulls are this week.
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