#22 Mr.Advice NEWSLETTER

#22 Mr.Advice NEWSLETTER
Good morning on the 21st day of February! 
In today’s Newsletter we will touch on BTC and ETH update, news from the crypto world and from Mr.Advice.

BTC and ETH update


  • Bitcoin price remained in a negative zone and settled below the $40,000 level. BTC is even trading below $38,800 and testing $38,000. It is currently (04:21 UTC) correcting losses above $39,000, but bears may remain active near $40,000.
  • Similarly, most of the major altcoins are facing hurdles. ETH fell below the $2,650 support level before rebounding. XRP is still trading below $0.80. ADA tested the $0.92 level before correcting upwards.
  • Bitcoin’s mining difficulty made another leap, reaching a new all-time high (ATH) – its third in a row. Further slashing miners’ profit margins, mining difficulty (a measure of how hard it is to compete for mining rewards) just rose 4.78% to almost 27.97T.  
  • Ethereum price picked up momentum below the $2,800 support zone and briefly fell below $2,600. It is currently correcting higher and trading above $2,700. Immediate resistance is located near the $2,750 level. Another key resistance is near the $2,880 zone, above which price could test the $3,000 level.

Crypto in the world

  • The number of people owning cryptocurrencies is growing, but investors are not abandoning traditional financial services due to the growing interest in cryptocurrencies. On the contrary, cryptocurrency investors are more likely to use multiple financial service providers than the general population, suggests a recent report by global business intelligence firm Morning Consult.

The report, focused on consumer banking and payments and based on survey interviews with more than 50,000 adults in the Americas, Europe and Asia-Pacific, indicates cryptocurrencies’ rise to mainstream status.

RUSSIA         

Russia’s Finance Ministry says it has formally submitted its draft law on regulating cryptocurrencies to the government – a move that could finally put an end to the political infighting that has dogged politicians in their quest to control the industry.

In a press release, the ministry said the government had “also received proposals from the Central Bank”, noting the latter’s desire “to impose a ban on the organisation of issuing and trading digital currencies, as well as to introduce accountability for relevant crimes”.

Source: https://cryptonews.com

FRANCE       

Cryptocurrencies and blockchain are becoming an important part of the French political narrative, as evidenced by recent statements by political newcomer Éric Zemmour, a popular columnist who is running in this year’s presidential election.

The far-right candidate recently tweeted his proposals for cryptocurrencies after visiting the offices of wallet manufacturer Ledger. Among other things, Zemmour proposes:

“[Allowing] holders of cryptocurrency assets to reduce their taxes by reinvesting their profits in the real economy” and “[ending] the administrative hell for cryptocurrency professionals” that is caused by France’s implementation of European Union law.

CANADA       

The Canadian government is continuing its controversial moves to end the “truckload protest” over COVID-19 restrictions that brought much of the nation to a standstill – by freezing cryptocurrency-related bank accounts to cut off protesters’ access to their own funds. Meanwhile, an order has been signed that prohibits the transfer of funds in many cryptocurrency addresses. (Updated at 16:07 UTC: updates throughout).

Funds in more than 120 addresses associated with bitcoin (BTC), ethereum (ETH), cardano (ADA), litecoin (LTC), ethereum classic (ETC) and monero (XMR) have been frozen following a private class action lawsuit against the protesters.

Source: https://cryptonews.com

JAPAN

Japanese gaming, entertainment and toy manufacturing giant Bandai Namco has announced that it will invest $130 million in new metaverse operations, becoming the latest powerful company to turn to virtual worlds. CoinPost reports that the company has made metaverse development a “medium-term” “priority strategy” and will leverage a number of its intellectual properties. The company was formed by the merger of Bandai and Namco, two of Japan’s biggest arcade and console gaming giants. The company owns a number of top-selling games including Tekken, Pac-man, Naruto, Gundo, Soulcalibur and Dark Souls.

Source : https://cryptonews.com

SLOVENIA

In another sign of intensifying work on cryptocurrency-related legislation among European countries, Slovenia’s Ministry of Finance has published a draft law to introduce a tax on cryptocurrency trading. In the next step, the government may present the bill to the Slovenian parliament for further legislative work.

In the financial impact assessment of the bill, the ministry cites data obtained from the national tax agency, the Financial Administration of the Republic of Slovenia (FURS), according to which Slovenian taxpayers have paid an average of EUR150 million (USD170.3 million) in capital gains tax annually over the past few years.

What’s up with Mr.Advice?

  • Live analysis and regular updates on Bitcoin and other cryptocurrencies are available in the Golden Keys product here. Several daily updates on the situation, with conditions given for each scenario!
  • Zoom calendar for the new week:

Monday                     19:00              Market analysis with Aaron

Tuesday                    18:30              Strategy elements with Aaron

Wednesday              19:30              Analysis and Ichimoku training with Sylwia

Thursday                  13:00              Market analysis + update with Aaron

Thursday                  18:00              Sales presentation with Krystian

Have a fantastic week!

Mr.Advice TEAM

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