Key Themes in 2023
(by Binance Research)
Although the trials of 2022 have led many to express skepticism on the future of crypto and its ability to uphold ideals of decentralization, security, and transparency, Binance remains cautiously optimistic looking into 2023:
🔸 Macroeconomics matter
The macro environment is key in driving returns of risk assets. Central bank policies, global growth data, and recession risks will set the stage for whether macro factors serve as a tailwind or headwind for crypto in 2023. As crypto matures and more institutional players enter the space, correlation between traditional and crypto markets could increase.
🔸 Real-world assets as an alternative source of growth
Certain DeFi and NFT projects may look outside of the crypto ecosystem to find additional growth opportunities given muted crypto activity. Integration with real-world assets could be in the form of assets tokenization or the acceptance of real-world assets as collateral.
🔸 Liquid staking narrative gains steam
As we get closer to the date that staked ETH can be withdrawn, there will be greater awareness, understanding, and willingness to participate in staking. Liquid staking protocols as a whole may benefit from this narrative although market share shifts are also likely.
🔸 Utility is key for NFTs
To drive the next phase of adoption and move beyond profile picture NFTs, we look forward to more innovation on the front of soulbound tokens, integrations with blockchain games, partnerships with web2 companies, and other real world use cases.
🔸 Improvement in gameplays
Given the spotlight on quality of games, we expect more focus by developers to improve the gameplays of the next generation of blockchain games. Teams that are able to successfully create quality AAA games will have a higher chance of attracting gamers.
🔸 Greater regulatory clarity
In the last year and a half, we’ve seen substantial progress in creating greater regulatory certainty for the cryptocurrency space. Regulators are, understandably, going to be much more skeptical, and regaining public trust will be challenging for crypto. However, more regulatory clarity will prove beneficial for the blockchain space in the long run.
📖 For those who would like to read the whole report
Follow @coach for more crypto insights 🔎
#Coach_Educates
Hopefully, this 👇🏼 will be a school material one day…
Should the blockchain/crypto basics be learnt at school?
🤝 Yes
👀 No
https://twitter.com/CryptoCoinCoach/status/1616029197402619904
Pivot Point
🔅Pivot points refer to technical indicators used by day traders to identify potential support and resistance price levels in a securities market.
🔅They are based on the previous day’s high, low, and closing prices.
🔅Traders use pivot points and the support and resistance levels they provide to determine potential entry, exit, and stop-loss prices for trades.
😇@Coach😎
2️⃣0️⃣2️⃣2️⃣ In Numbers
Last year was marked by a major market correction while Q2 appeared to be the worst for Bitcoin in history.
Today, on-chain indicators signal about restart of the market after a long fall 🤞🏼
Gonna wrap 2022 up in several infographics and forget about it 😅
https://twitter.com/CryptoCoinCoach/status/1615662714113638404
🗣 New interview: CCC.io x Ankr
Ankr is a decentralized Web3 infrastructure provider that helps developers, dApps, and stakers interact easily with an array of blockchains.
⏰ Meet you on Wednesday, January 18, at 7:00 PM GMT here, in our Telegram: /channel/coach
🎙 In our live interview, we will have a talk with Ryan Fang, Co-Founder & COO
Prize pool
💰 $250 in $ANKR for 5 random listeners
What to do to take part?
✔️ follow us on Twitter:
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https://twitter.com/ankr
✔️ like & retweet the announcement: https://twitter.com/CryptoCoinCoach/status/1615445296615415815
✔️ don't go anywhere until the interview ends
*Make sure to update your Telegram to the latest version to support live broadcasts.
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2️⃣0️⃣2️⃣2️⃣ In Numbers
2022 was a real test for public miners & crypto-related companies.
What aggravated an already difficult situation:
⚡️ energy crisis
⛏ rising cost of mining
🧾 inability to meet credit obligations through the sale of reserves due to the decline in prices
https://twitter.com/CryptoCoinCoach/status/1615351917453971456
S&P 500 Targets
2022 2023
Barclays $4.800 $3.675
Morgan Stanley $3.900 $4.400
UBS $3.900 $4.850
Bank of America $4.000 $4.600
Goldman Sachs $4.000 $5.100
Credit Suisse $4.050 $5.000
RBC $4.100 $5.050
JPMorgan $4.200 $5.050
BMO $4.300 $5.300
Remember we discussed the stock market forecasts are all made according to a template: each bank is tied to 7-8% and then just adjusts upwards or downwards depending on the mood they are in - bullish or bearish - to be safe?
Still, the forecasts for 2023 show a much wider range of opinions. It is rare that so many banks take such a bearish stance.
This is to be expected after all: people are taking a bearish stance at the bottom because it is when the cracks in the economy/labor market/corporate income are particularly visible. The bearish mood is in the air before these cracks become visible to a wide audience, though.
Let's forecast in the beginning of the year how 2023 will end!
🔥 Greener than S&P 500 targets
👀 Even more red than S&P 500 targets
🫡 S&P 500 will be right this time
Follow @coach for more crypto insights 🔎
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Daily Digest (January 16, 2023)
🔸 3AC founders Zhu and Davies pitch to raise $25 million for new crypto exchange.
🔸 Binance will allow institutional investors to keep the collateral for leveraged positions off of the platform.
🔸 Suspected North Korean hackers move $63.5 million in ether stolen from Horizon bridge.
🔸 Bithumb ordered to pay damages for outage during bitcoin's 2017 rally.
🔸 Shiba Inu about to launch Ethereum Layer 2 network Shibarium in beta.
🔸 FTT surges 48%; other bankrupt tokens also rise.
🔸 Bitcoin moves toward neutral sentiment on Fear & Greed index.
🔸 Immutable X games collected largest Web3 funding of 2022 – over $900M.
🔸 Binance assists in recovering $3M from Harmony bridge hack.
🔸 Bulgaria’s prosecutor general insists Nexo investigation isn't political.
🔸 Scaramucci backs former FTX us exec’s new crypto venture.
@coach
#CryptoPrimeTime_with_Coach
Support and resistance zones
🔅The concepts of trading level support and resistance important price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
🔅Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement.
🔅Shifting zones of resistance and support can be revealed by understanding the sentiment and emotion of individual market actors and how that aggregates up to the market.
😇@Coach😎
National Australia Bank launches stablecoin fully backed by Australian dollars.
📍 Follow @Coins for the hottest news in crypto.
Daily Digest (January 18, 2023)
🔸 ConsenSys lays off 11% of workforce.
🔸 Semafor explores options to buy out Sam Bankman-Fried’s interest.
🔸 Coinbase says to halt operations in Japan.
🔸 Crypto conglomerate DCG suspends dividends amid distress at Genesis unit.
🔸 NFT sales volume rebounded significantly in December.
🔸 MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears.
🔸 Cathie Wood-backed 21shares offers first staking index ETP.
🔸 NBA all-star Baron Davis joins Tim Draper's new web3 deals platform as venture partner.
🔸 Polkadot enhances cross-chain abilities between its blockchains.
🔸 FTX debtors identify $5.5 billion of liquid assets in ’Herculean effort’.
🔸 Bitget leads drive for crypto exchange security with $300m protection fund.
@coach
#CryptoPrimeTime_with_Coach
Daily Digest (January 17, 2023)
🔸 FalconX, Bitmex founder Hayes invest in market maker Elixir amid dearth of providers.
🔸 Fidelity International-backed OSL latest crypto outfit to slash workforce.
🔸 Silvergate shares jump in pre-market trading despite loss as bank well-capitalized.
🔸 Crypto investor HashKey Capital closes third fund at $500 million.
🔸 Filecoin Foundation set to test IPFS-based communication in space.
🔸 EU's final vote on MiCA regulation postponed until April.
🔸 Vauld gets creditor protection until Feb. 28 — shorter than requested.
🔸 Ethereum hits 500,000 validators ahead of scheduled Shanghai Upgrade.
🔸 Decentraland posts 81% rise over the week, leads metaverse token rally.
🔸 Bitcoin mining emissions down 10% as Kazakhstan's hash rate share decreases.
🔸 Thailand's SEC mandates exchanges to establish digital wallet management system.
@coach
#CryptoPrimeTime_with_Coach
Support Level
🔅A support level is the price at which an asset may find difficulty falling below as traders look to buy around that level.
🔅Usually, the markets prove unwilling to let an asset drop below its support level, with buyers stepping in to raise the asset’s price higher again.
🔅That makes them the opposite of resistance levels: the point at which the markets prove unwilling to let an asset’s price rise any higher.
🔅If an asset does move below its support level, then that support level is either wiped out – and a new support level must be identified – or reconfirmed, if lots of traders buy the asset.
😇@Coach😎
AUTO: Good to buy and HOLD.
🟥 Red Box: Buy zone
🟥 Stop loss: Daily candle close below 201$
🟩 Green box: Take profit zone
🥳@Coach
Binance Custody launches Binance Mirror to let institutions store crypto with cold custody without having to post collateral directly on the exchange.
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