Welcome back! We meet again in this space to review the most important things that have happened in the world of cryptocurrencies.
While it seems that this week was a little quieter than the previous ones, which have been a real news frenzy, there are many things that are sure to surprise you:
And we can do nothing but start by talking about a new Elon Musk caper. The billionaire, who recently bought Twitter, continues to do his thing and this week he left us with a fact that surprised the entire cryptocurrency community: he changed the original logo of the social network for the Dogecoin logo.
This, how could it be otherwise, generated such a stir that the price of DOGE skyrocketed, while users speculated about a possible imminent integration of memecoin within Twitter. But, was that really what led Elon to change the logo? Well, we talk about the real reasons HERE. After the dizzying rise, Dogecoin’s price deflated as the days went by.
DOGE investors undoubtedly had a great week, with gains of over 25% in the hours following the change. However, they are not the only ones enjoying this 2023. According to our trading expert’s analysis XRP, which accumulated an impressive 75% gain for the year, has the potential to keep rising above $0.58 as the end of the SEC trial approaches.
By the way, Bitcoin is also having a great year, even though the usual doomsayers predicted that this 2023, the leading cryptocurrency would go to 0. So wrong were they, that BTC accumulated 68% so far this year and has been installed as the most chosen alternative to the current banking crisis. This week, Bitcoin was slightly shaken by the allegations that fell on Binance and its CEO, CZ, although it quickly recovered. Our technical analyst, states that BTC bulls are struggling within a bullish channel. If you want more details you can read his detailed report.
Of course, Ethereum also went through our expert’s magnifying glass. As we have been anticipating, buyers are preparing to break the famous $2,000 barrier very soon. If the market accompanies, maybe next week will be very important for ETH.
Back to Binance, the CFTC complaint had a major impact on the world’s leading exchange. Although the platform and CZ were quick to respond to the complaint saying that it was only FUD, the Exchange lost a significant market share, amid investor fears that the same could happen as with FTX.
Finally, from Crypto Economy, we have been warning our readers for some time about a systematic plan of governments and financial institutions to impose a stronger control on the financial freedoms of citizens.
How? Through CBDCs. It is clear that cryptocurrencies are being a solution that provides freedom for people to move their money without going through banks and away from the clutches of governments and their taxes. Now, under a false mask of “modernism and innovation” governments are seeking to implement their own “cryptocurrencies” backed by central banks. However, like a Trojan horse, CBDCs are just the façade of an attempt to further control and restrict personal finances. So believes the Cato Institute, which produced a must-read report on the risks of CBDCs.
The only way to be forewarned about this crude attempt at control is to be familiar with crypto projects that are truly decentralized and seek to bring freedom and new alternatives to the people. And, for that, nothing better than to follow closely all the news of this industry in Crypto Economy.
