There is an old saying on Wall Street: buy the rumor, sell the news.
The adage is based on the belief that market participants, being forward-looking, tend to buy an asset when expecting positive information and take profit, driving the market lower on confirmation of the news.
Bitcoin has rallied over 40% this month on expectations that the U.S. Securities and Exchange Commission (SEC) would approve an exchange-traded fund investing in futures contracts tied to the cryptocurrency.
With ProShares’ product live now on the New York Stock Exchange, there is a lot of noise in the market about the possibility of a sell-the-fact pullback in bitcoin.
Similar price action was seen earlier this year as bitcoin topped out at $64,801 when crypto exchange @Coinbase debuted its stock listing on Nasdaq on April 14. The cryptocurrency fell to $30,000 the following month.
Blockchain data supports the case for sell-the-fact action after the ETF listing. Analysts, however, stand divided on the issue.
https://www.coindesk.com/markets/2021/10/19/analysts-divided-on-prospects-of-sell-the-fact-move-as-bitcoin-etf-listing-nears
The adage is based on the belief that market participants, being forward-looking, tend to buy an asset when expecting positive information and take profit, driving the market lower on confirmation of the news.
Bitcoin has rallied over 40% this month on expectations that the U.S. Securities and Exchange Commission (SEC) would approve an exchange-traded fund investing in futures contracts tied to the cryptocurrency.
With ProShares’ product live now on the New York Stock Exchange, there is a lot of noise in the market about the possibility of a sell-the-fact pullback in bitcoin.
Similar price action was seen earlier this year as bitcoin topped out at $64,801 when crypto exchange @Coinbase debuted its stock listing on Nasdaq on April 14. The cryptocurrency fell to $30,000 the following month.
Blockchain data supports the case for sell-the-fact action after the ETF listing. Analysts, however, stand divided on the issue.
https://www.coindesk.com/markets/2021/10/19/analysts-divided-on-prospects-of-sell-the-fact-move-as-bitcoin-etf-listing-nears
CoinDesk
Analysts Divided on Prospects of Sell-the-Fact Move as Bitcoin ETF Listing Nears
Bitcoin peaked after Coinbase’s debut on Nasdaq on April 14
Kusama (KSM) council announces early start for next batch of parachain auctions — link
CryptoSlate
Kusama (KSM) council announces early start for next batch of parachain auctions
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Facebook Finally Launches Digital Currency Wallet Novi but Senators Want to Close This Project — link
Coinbase becomes official partner of NBA as crypto goes mainstream — link
CryptoSlate
Coinbase becomes official partner of NBA as crypto goes mainstream
Coinbase has announced a new partnership with NBA which is geared towards promoting crypto education and the crypto economy.
Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts — link
UseTheBitcoin
Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts | UseTheBitcoin
Tortola, British Virgin Islands, 22nd October, 2021,
200 Bitcoin ATMs installed at Walmart… with plans for 8,000 in total — link
Cointelegraph
200 Bitcoin ATMs installed at Walmart… with plans for 8,000 in total
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CoinMarketCap hack reportedly leaks 3.1 million user email addresses — link
Cointelegraph
CoinMarketCap hack reportedly leaks 3.1 million user email addresses
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PayPal Notches Largest Bitcoin Volume For The First Time In Months — link
ZyCrypto
PayPal Notches Largest Bitcoin Volume For The First Time In Months
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Mastercard partners with Bakkt, to offer customers ‘ability to buy, sell, hold crypto’ — link
AMBCrypto
Mastercard partners with Bakkt, to offer customers ‘ability to buy, sell, hold crypto’
Mastercard announced its entry into the cryptocurrency industry, and it might never be the same again. Thousands of partner banks and millions of merchants on its payment network, might soon be able to integrate cryptocurrencies into their products. According…
Avalanche Integrates Ampleforth to Boost DeFi Ecosystem — link
Crypto Briefing
Avalanche Integrates Ampleforth to Boost DeFi Ecosystem
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EXAMINING SHORT-TERM BITCOIN HOLDER BEHAVIOR — link
Bitcoin Magazine
Examining Short-Term Bitcoin Holder Behavior
Examining the dynamics of short-term holders during bitcoin bull markets and bear markets.
Redditors cheer as GameStop assembles team of NFT experts — link
Cointelegraph
Redditors cheer as GameStop assembles a team of NFT experts
Gamestop is on the hunt for a team of blockchain and NFT experts to build the firm’s NFT marketplace and Web3 gaming initiatives. GME fans on Reddit are cheering.
Ripple deploys its first on-demand liquidity tool in the Middle East — link
CryptoSlate
Ripple deploys its first on-demand liquidity tool in the Middle East
Ripple partners up with Pyypl in a bid to bring instant, low-cost remittances to the Middle East and North Africa (MENA) region.
Visa Invests in Deserve Following Success of BlockFi Credit Card — link
U.Today
Visa Invests in Deserve Following Success of BlockFi Credit Card - U.Today
A credit card that was launched by BlockFi, Visa and Deserve ended up being a massive hit
Ethereum 2.0 Altair Upgrade Goes Live, ETH Hits All Time High — link
Blockonomi
Ethereum 2.0 Altair Upgrade Goes Live, ETH Hits All Time High
After several delays, Ethereum has shown signs of Ethereum 2.0 phase 0 with the Altair upgrade. The Proof-of-Stake transition is underway!
Burger King Partners with Robinhood to Give Crypto Rewards — link
Coinspeaker
Burger King Partners with Robinhood to Give Crypto Rewards
Adding spice to its loyalty program, Burger King has announced crypto rewards to its customers in Bitcoin, Ethereum, and Dogecoin.
NY Mayor-elect Eric Adams will take his first three paychecks in Bitcoin — link
Cointelegraph
NY Mayor-elect Eric Adams will take his first three paychecks in Bitcoin
The New York Mayor-elect is racing against Miami’s mayor to become the first American politician to accept their salary in crypto