Bitcoin gains momentum as the DXY finally cools off.
Gary Vee's popular NFT project VeeFriends is finally getting some serious attention.
And this famous NFT artist sounds the alarm and put out an important warning.
Stick around till the end to find out.
My name is AJ.
This is your nightly crypto news wrap-up.
Let's get it!
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In 2022, the story of Bitcoin is basically the opposite of the story of the DXY.
Considering the hawkish approach Jerome Powell and the gang are taking against inflation,
the dollar has been pumping like no other.
Although since the DXY put in a high at 115 at the end of September,
lucky for us, it has fallen just under 4%
and has held Bitcoin once again hover right around that psychological $20,000 level.
Peek at this DXY chart.
And notice the important support and resistance level.
What was overhead resistance on September 7 became the new floor on September 22.
We're back below that level for now,
but I have a feeling a retest is coming,
and that will most likely tell the story for Bitcoin.
If the DXY continues to fall,
we're smooth sailing,
but if it gets back above that SR line,
any ground we gained will turn out to be a bull trap.
And it's hard to tell how far we'll fall.
Fingers crossed that the closed emergency Fed meeting yesterday
involve the dovish fallback plan for the rest of the year.
This isn't the only bullish sentiment to hang your hat on either.
Bitcoin supply on exchanges is at its lowest level since the end of 2018.
And despite the bear market,
the amount of people holding keeps growing.
In fact, IntoTheBlock points out
that there's 42 million addresses currently holding Bitcoin,
which is 4.5 million more than this time last year.
If you want to add Bitcoin to your wallet,
or if you want to buy Bitcoin for the first time,
be sure to click the link below to Binance,
where you can get $600 just for signing up.
Let's pass it to our guy Frankie Candles for a market watch.
Thanks, AJ!
Alright, guys. Let's jump in and do a little market watch here.
We've got Bitcoin coming in at $20,347.
Up about 3.5% on the day
We've got Ethereum coming in at $1,363.
Up about 3% on the day
Guys, it feels good to have a little bit of green in the markets here.
Now, I do want to bring you over to the Bitcoin chart here
looking at the 15-minute timeframe.
Now, we hit our first target that we were talking about
on the Frankie Candles YouTube channel on the live stream.
And that target was $20,100.
We came up, tapped it,
came up, tapped it again,
put in a bear div,
pulled back before a continuation to our second target of about $20,400.
If we get a continuation to the upside, guys,
some levels I'm watching are going to be about $20,525,
we do have a point of control there,
and above that, we do have this next level at about $20,795.
And you can't forget,
we also do have this spider line coming in at almost $21,000 even.
So if we continue to the upside,
there are some targets that I am watching to potentially catch some resistance on.
If you guys want to follow me,
it's Frankie Candles on YouTube or @Frankie_Candles on all socials.
Back to the news.
Thanks, Frank!
Gary Vee's popular NFT project VeeFriends is making a noteworthy push into the mainstream.
And now they're setting a new standard for what's possible in the industry.
In just a few weeks starting on October 17,
thanks for their partnership with Toikido,
10 of the VeeFriends characters will be available as toys
that you can purchase at any Toys"R"Us or Macy's in the States.
Gary Vee and his team are very excited about this development.
And since he's been a longtime toy collector,
Gary stated that the deal "means way more to me than you could ever imagine."
Transitioning out of the digital realm is important for NFT companies
that want to become popular brands in pop culture.
And I think it's cool that VeeFriends becomes toys for kids.
I mean, would you put your kid to bed with a stuffed goblin?
Popular NFT artist Beeple,
best known for selling an NFT collage for just shy of $70 million last year,
recently issued a dire warning about their Discord.
It reads,
"It appears our Discord URLs were hacked to a point to a fraudulent Discord.
Do not go into that Discord and do not verify.
It will drain your wallet!"
He signed off by thanking Discord for being garbage.
And I hope anyone trying to get into that Discord gets the message from him or from us.
Honestly, I'm really reporting this to make a bigger point
about scams and hacks in the crypto and NFT space.
Beeple is right.
Anything too good to be true is probably a scam.
And to succeed in this industry,
you have to have the wherewithal to not let that happen to you.
Phishing attacks are very real.
And the hackers are only getting more sophisticated with the times.
Just this year alone,
almost $87 million worth of NFTs have been stolen
and over $2 billion has been hacked in crypto.
This doesn't have to be you.
Be careful.
Use common sense and protect yourself.
Start off by running a VPN to scramble your IP address.
And don't use the same password for every login.
And most importantly,
buy a Ledger device to store your crypto.
And yes, Ledgers also support NFTs.
It's 2022.
And you've seen how bad things can get if you leave your crypto on an exchange.
Getting a Ledger is the smartest thing you can do,
and it's the safest place to hold all of your crypto assets.
Link in the description.
Better safe than sorry.
Be careful out there.
That's all I got.
Be blessed.
AJ out.