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Daily Bitcoin and Crypto Analysis

This week in Crypto...

March 28, 2021
Over the weekend, the governor of the Central Bank of Nigeria claimed his stance on digital currencies was not to discourage trading: “The CBN did not place restrictions from use of cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.”

On Monday…

The chair of the United States Federal Reserve Jerome Powell stated cryptocurrencies are: "more a speculative asset," and called them a "substitute for gold rather than the dollar."

Jim Cramer, host of CNBC, expressed he has made "a ton of money" on Bitcoin. He also revealed that Bitcoin's return was faster and higher compared to buying gold and stocks.

On Tuesday…

The Week on Chain Glassnode report noticed whales are selling their Bitcoin holdings to retail investors, slowing down the latest bull run.

In a new job posting, Time magazine expressed it's looking for a CFO who has "comfort with Bitcoin and cryptocurrencies." Other companies are also starting to seek candidates who have a level of comfort with cryptocurrencies.

On Wednesday…

Fidelity Investments filed the paperwork to list a Bitcoin ETF, which will track the performance of the asset using the Fidelity Bitcoin Index PR.

The government of India is now requiring both public and private firms to disclose any crypto-related trades or investments. Despite the blurry legal status of cryptocurrencies, this new rule follows the introduction of a new amendment created by India's Ministry of Corporate Affairs.

On Thursday…

A Bank of America report highlighted the virtues of hodling, saying that long-term investment will almost always end up recovering most of bear-market losses.

Robert Gutmann, the CEO of the New York Digital Investment Group, confirmed they have been speaking to governments about investing in Bitcoin.

On Friday...

Dawn Fitzpatrick, Chief Information Officer of Soros Fund Management, stated: “I think when it comes to crypto generally, we’re at a really important moment in time, in that, something like Bitcoin might have stayed a fringe asset, but for the fact that, over the last 12 months, we’ve increased money supply in the U.S. by 25%,” in an interview in which she revealed why Soros started taking an interest in Bitcoin.


For more information on these stories, visit: 
Nigeria: https://www.today.ng/business/finance/cbn-nigerians-free-bitcoin-353492
Powell: https://www.youtube.com/watch?v=G5bVtzQt4Uc
Time Magazine: https://www.linkedin.com/jobs/view/2459287290/
Jim Cramer: https://www.youtube.com/watch?v=oqfAtMKu1wo
Fidelity: https://www.sec.gov/Archives/edgar/data/1852317/000119312521092598/d133565ds1.htm
India: http://www.mca.gov.in/Ministry/pdf/ScheduleIIIAmendmentRules_24032021.pdf
Glassnode: https://insights.glassnode.com/the-week-on-chain-week-12-2021/
Bank of America: https://www.cnbc.com/2021/03/24/this-chart-shows-why-investors-should-never-try-to-time-the-stock-market.html
Gutmann: https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms
Soros: https://twitter.com/crypto/status/1375288902026547210?s=20

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