In last week’s letter I stated that Bitcoin has 2 likely options; either to climb back above 47,000$, which would probably result in another rally or retrace back to 42,000$ and bounce towards higher prices from there. The first of two options was the one that came to fruition. Bitcoin managed to slowly climb to almost 49,000$ and successfully retested as it bounced from the previous resistance line at 46,970$ on Saturday. Generally, slow upward movements of the Bitcoin price haven’t yet caused any significant rally in the majority of altcoins. The reason probably lies in last week Bitcoin’s drop that led to a significant drop in market sentiment from greed to fear. One exception was Litecoin whose price managed to shoot up by more than a third after the news that Walmart has partnered with Silver coin went viral. Unfortunately, the announcement turned out to be a hoax, which sparked a sell-off that pushed the price right back to previous levels.
Here at NewsCrypto, the highlight of the week was definitely our partnership with MILC (Media Industry Licensing Content) on Monday. Hand in hand with our mission of bringing crypto knowledge to the masses, which I think is crucial for truly global adoption of crypto, through our partnership we’ll be able to bring quality content to an audience without the intermediaries present in the traditional media. This will be accomplished through several stages of our partnership. At first, our team will create educational content on what MILC is doing and why it matters, and then given that MILC has deep expertise in the TV industry, with its own decentralized twist, our team will prepare educational content for TV. The revolutionary move will enable you to access the best and latest educational and news content not only on smartphones and computers through our app and platform, but also on your TV.
This week our team also released an article regarding all of the updates renewed Platform 3.0 offers to its users. Starting with the explanation of upgrades of numerous tools and indicators, the article continues with an outlook of increased Academy content and the Unchained Education Hub that provides educators and analysts from all over the world with a platform, where they can share their knowledge. The team has shaped the Platform in a very community-focused way, which can be obtained from the Community Predictions section, where users that provide the most value to the community by sharing their technical analysis are rewarded weekly for their effort.
That sums it up. We’re all looking forward to seeing what the next week will bring. Good luck in the markets!