DMD Digest: Issue #1
Q2 Comes to an End with Bitcoin Making a Statement Without Saying a Word
Welcome to the first issue of the DMD Digest. I am thrilled to introduce to you an exciting addition to our content offerings, DMD Digest, a premium subscription-based newsletter dedicated to delivering insights on the new, notable, and not-to-be-missed happenings in the ever-evolving crypto economy.
In the rapidly changing world of cryptocurrency, it is imperative to stay informed and ahead of the curve. DMD Digest is designed to be your compass in navigating through the waves of this dynamic industry.
Let’s go … let’s grow!
HIGH NOTES OF THE WEEK
After a period of mostly moving sideways between 25K-27K, bitcoin is finishing strong in the second quarter of 2023 about 30K.
There was lots of legal and regulatory action this quarter, including legal battles between leading crypto exchanges Coinbase and Gemini v. the SEC.
Recently, we saw the reemergence of bitcoin ETF filings from notable financial institutions, namely Fidelity and Blackrock. And Coinbase stock, which trades on the NASDAQ is up 12.79% today (+7.92) at $69.86.
So what does this mean for you?
This Q2 activity signals strong institutional investor confidence in the current market. This positive movement has also breathed new life into retail investors who were scared out of the market in 2022. This fear was due largely to price decline, regulatory uncertainty, and several profile cases of fraud, driven by scammer-in-chief, Sam Bankman-Fried, whose trial is set for an Oct. 2, 2023 trial to face the first eight charges brought against him.
With inflation is cooling, the Federal Reserve is easing its pace of rate hikes and serious questions of whether the fears of a recession were overblown.
These developments coupled with several best-in-class industry and technological developments in the blockchain and DeFi space, has set bitcoin and the larger crypto industry up for a very eventful and promising third quarter.
TOP NEWS OF THE WEEK
· The REAL Reason the Government Has Been Hostile to Crypto? They Have Their OWN Version of Crypto (but they won’t call it that). They call it, FedNOW.
CoinMarketCap.com reports: 6/27/2023
· The global crypto market cap is $1.19T, a 1.69% increase over the last day.
· The total crypto market volume over the last 24 hours is $35.83B, which makes a 5.12% decrease.
· The total volume in DeFi is currently $2.33B, 6.49% of the total crypto market 24-hour volume.
· The volume of all stable coins is now $32.91B, which is 91.86% of the total crypto market 24-hour volume.
· BTC: $30,700.95 up 1.87%
· ETH: $1,898.94 up 2.84%
· TOTAL COINS & TOKENS: : 26,021
Bitcoin’s dominance is currently 50.08%, an increase of 0.07% over the day.
Bitcoin’s price is up 86% since the beginning of the year with no signs of slowing. This signals that the bear market may be over. This is particularly interesting given that bitcoin and (and alt coins that benefit from at BTC surge), enjoy significant gains as a bitcoin halving approaches. The next halving event happens next year.
I explained what this event is in a recent post.
YOUR ADVANTAGE OF THE WEEK
Below are my Elite Eight Essential “stay ready” steps to take before the next crypto market surge so you don’t get left behind on the sidelines while the early (and prepared) birds get the coins.