🧘‍♂️ALERT: What Next For Bitcoin?

& An Altcoin Mystery

Dear Meditators

Welcome to a new week in crypto. These markets can be unforgiving, make sure you stay updated with the latest news and developments.

Today’s Meditations: 

• Bitcoin & Near Protocol Analysis 

• PayPal Stablecoins

• Disney’s Metaverse

• Our Crypto Calendar of the Week  

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Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool. 

? BTC & An Altcoin Mystery

BTC/USD

Currently still in the upper part of the neutral zone.

Hovering above the $40k support level. 

Given the aggressive downtrend we are currently experiencing, it is not out of the question to see the $40k level break.

The downtrend seems to be further exacerbated by the recent fears that the Federal Reserve will introduce four interest rate hikes in 2022. The previous expectation was three interest rate hikes.

✅ TIP: Interest rate hikes are used to curb excessive inflation. When measures are introduced to get a handle on inflation, there is less demand for inflation hedge assets such as Bitcoin.

This might generate a buy opportunity at the $36k level. This is an example of trading against the trend. However, scalping can be a very profitable opportunity, with the potential of 13% upside here back up to the $40k level.

NEAR/USD

Near is an interesting Layer 1 blockchain. The Proof of Stake model makes it more climate friendly and dynamic re-sharing ensures higher throughput and lower transaction fees.

Solid uptrend. Currently at the 0.382 level.

If we bounce off this level, we’ll likely see a continuation of the uptrend. With a potential breakout play at $16 to new highs.

If we lose the 0.382 level, it’s unlikely to see the 0.5 level hold. Rather, we would expect to see the Moving Average and 0.618 level act as a bit of a magnet. 

?PayPal Stabilizes Plans on New Coin

Stablecoins offer a unique combination of security and opportunity. 

Governments and companies alike continue taking notice of this growing market, and PayPal has just confirmed its interest in the space. 

• Online payment giant PayPal confirmed its intention to launch its own stablecoin named PayPal Coin. 

• If pursued to completion, the stablecoin will be backed by the United States dollar.

• PayPal has continuously ramped up its development of crypto-based products in recent years.

• The development of PayPal Coin comes at a fortuitous time as yields on various protocols’ stablecoins have consistently populated recent headlines, presumably due to the recent rise in volatility of almost all cryptocurrencies.

The revelation of another cryptocurrency product coming from PayPal shouldn’t come as a surprise to anyone. However, the choice of a stablecoin does speak volumes about the focus of the payment giant.  

As Do Kwon said: “The stablecoin is the most important product in crypto”. 

PayPal is clearly positioning itself to be well-prepared in the likely case that the future of digital payment resides in the cryptosphere. 

? Disney’s Metaverse 

Disney does not let many opportunities slide.

This is why they have recently applied and been approved for a patent that would, in a sense, grant them their own metaverse in their theme parks. Though you don’t need a patent for a metaverse, let’s take a look at what exactly their vision is. 

• The patent would allow them to create personalized attractions for park visitors. 

• Last November, Disney CEO Bob Chapek said, “We’ll be able to connect the physical and digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse.”

• Disney has talked about implementing this, saying that the technology would facilitate headset-free augmented reality attractions. 

• The technology would track visitors using mobile phones in order to generate personalized 3D effects onto walls, other physical spaces, and objects in the park. 

News such as this proves that the crypto community stretches far wider than major coins such as bitcoin and ethereum. Major companies such as Disney are taking action to not be left behind. 

On Mondays, our ‘Scan The Week’ section is designed to show our community what events and headlines we will be keeping an eye on.

Monday, 10 January

• ?‍? My Neighbor Alice Christmas Market NFTs
  My Neighbor Alice Christmas Market opens with almost 50,000 NFT’s contained in mystery boxes on the Binance Smart Chain. Limited availability will not be sold again after the conclusion of the sale. 

 Tuesday, 11 January

• ? Ravencoin (RVN) Halving Block Reward
  Ravencoin rewards will drop from 5000 every 1-minute block to 2500 $RVN per 1-minute block. 

• ? Moonbeam EVM + Balance Transfers
  Moonbeam’s launch to Polkadot is planned to be complete by 11 January. During this phase, EVM and balance transfers will be enabled. 

 Wednesday, 12 January

• ? Fantom Gets Listing
  Fantom (FTM) to be listed on Bitstamp. The process of full trading for FTM and AMP to begin 11 January with trades beginning to be executed normally 12 January at 12:00 PM UTC.

• ⌛ Algorand Twitter Spaces AMA
  Twitter Spaces AMA session with COO and other team members of the Algorand project. 

Thursday, 13 January

• ⛱️ The Sandbox Land Sale
  The Sandbox Mega City Land Sale featuring 61 LANDs, 95 premium LANDs with bundled NFTs and 7 ESTATEs live at 1:00 PM UTC.

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??‍♂️✍️ Stories in this newsletter were written by Kyle F., Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.

Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.

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