Letter from the NWC CEO
Another week filled with bullish action is coming to an end. Let’s first look at what has happened in the markets and then dive into developments here at NewsCrypto.
We’re coming to an end of no ordinary week, as the Bitcoin price managed to surpass the previous all time high. The price surged all the way to $67,000. Having peaked, the price retraced a bit, but managed to close above the important $60,000 level. Unfortunately the price fell below the previous ATH and didn’t manage to immediately reclaim it as support, which could be a sign of a potential smaller correction. The major factor that contributed to the rally, the launch of Bitcoin ETFs that hyped up the investors, could also be over for a while, which is another factor that points in that direction.
On the flip side Ethereum managed to barely touch the previous all time high and couldn’t make a breakthrough, as the price corrected afterwards. It happened a day after the Bitcoin reached new highs, as Bitcoin dominance began to fall, after almost steadily rising for the whole October.
When it comes to news from the crypto sphere, there have been some, but let’s focus solely on the most important. One of them is definitely the launch of Bitcoin Futures ETFs. The first one opened for trading on the New York Stock Exchange on Oct. 19 and has reached more than $1 billion in assets under management in less than a week. The second one began trading on the Nasdaq Exchange on Oct. 22 and offers direct exposure to cryptocurrency futures as well. If you want to gain a better understanding of Bitcoin Futures ETF, consider reading this week’s How-to Crypto report that is available here.
When it comes to developments here at NewsCrypto, we’ve announced the date when our Stellar-Polygon bridge will go live on the mainnet. It will happen next Friday, on October 29th. I have to say that the Testnet version has been out for more than two weeks and has been working flawlessly. In case you still haven’t tried it out, you can do it here. As I already mentioned, we’re still waiting for the first report of a problem. If you find any, make sure you contact our team, so they can compensate you for your contribution.
Another thing I have to mention is that our team made some adjustments on our Backtesting Bot to make an experience even more user-friendly. Our team is committed to keep developing the algorithms further and expanding the patterns set in order to help users even more and enhance their results. If you’re still unfamiliar with our revolutionary tool, you can check it out here.
The last thing I’d like to write about this time is our team’s constant rewarding of active community members. They always strive to give back to everyone from those willing to share their knowledge to those willing to participate in numerous activities. This week we went an extra mile and made 2 giveaways.
The first one was held in our Discord and rewarded the most aspiring learners. Everyone who completed all School content on our Platform and shared a proof of it was eligible to win up to 50 NWC. The second giveaway started on Friday and is still ongoing, so you can still participate. You only need to like and retweet our giveaway post on Twitter, along with leaving a screenshot of your TA prediction using our Platform Predictions in the comment section.
In hopes that the recent macro trend continues, I wish you a pleasant reminder of the day. Looking forward to writing to you at the end of next week.