Ethereum's price pumps in anticipation of the Merge.
Dubai prepares to plug into the metaverse.
And don't tap out.
Crypto is worth fighting for.
My name is Justin.
This is your nightly crypto news wrap-up.
Let's get it!
Oh, what a week it's been, and it's only Tuesday!
In anticipation of the merge to Ethereum 2.0 now scheduled for the second half of September,
ETH has blasted up over 50% in the last 7 days
from just over $1,000 up to $1,500 range.
It even touched $1,600 range briefly for the first time in weeks late last night.
On top of that,
in the past 7 days,
Ethereum even outperformed Bitcoin by a smudge over 25%.
Sure, the next Fed meeting is coming next week,
but at the same time,
institutions and whales accumulating,
so we're left with the question,
where will the Ethereum go by the end of the year?
Finbold.com ran a story this morning
where they questioned the panel of 53 Web3 experts
about where they think the yearly ETH candle will close.
With a wide range of bearish and bullish answers,
the average consensus was that ETH will hit a yearly low of $675
before ending the year at $1,711.
Additionally, 43% of the experts think now is a good time to buy,
41% said it's a good time to HODL,
and the last 16% think it's a good time to sell.
My favorite part of the article is where they said ETH will be over $14,000 by the year 2030.
That's not that far away when you think about it.
I think we could even surpass $20K by then.
Where do you think Ethereum's going to land by the end of the year?
Let us know in the comments.
Alright. Let's ask Frankie and pass it over to him for a little market watch.
Thanks, JChains!
Alright, guys. Let's go ahead and do a little market watch.
We've got Bitcoin coming in at $23,353.
Up 4% for the day, 20% on the week
Ethereum up at $1,539
Down about 1.6% but up 47% on the week
So not too bad
Now, guys, I want to bring you over to the chart real quick
as Bitcoin continues to move up on the 1-minute.
Alright. Now, one thing I do want to point to you guys to watch out for
is this bearish divergence that is potentially forming on the 4-hour chart
where you have your price making higher highs
and your momentum waves or oscillator making lower highs.
This is a bearish sign and could indicate a possible cooldown.
Now, it is not currently printing,
but it looks like it could be setting up here soon.
So just something you can keep an eye on for a possible pullback.
But for the most part,
things are looking like we could get a continuation.
If you guys want to follow me,
it's Frankie Candles on YouTube or @Frankie_Candles on all socials.
Back to the news.
Dubai is plugging into the metaverse
by deploying a plan to break into the world's top 10 metaverse economies.
There are already over 1,000 blockchain or metaverse companies in Dubai
which is responsible for flowing over $500 million into their economy.
Now that they got a taste of that crypto money,
they're doubling down.
Dubai's Crown Prince Hamdan Bin Mohammed tweeted out yesterday that their strategy
is to 5X the number of blockchain and metaverse companies,
create 40,000 new virtual jobs inside those companies
and become No. 1 in the region and break into the top 10 cities
in terms of metaverse economy.
The plan is to make all this happen in the next 5 years,
and the expansion of the companies and the workforce is estimated to bring
$4 billion into their economy.
Some of the city's top companies already have the ball rolling.
Bloomberg reports that the Damac Group is planning to build digital cities
and the healthcare firm Thumbay will premiering the world's first hospital in the metaverse
where patients can get virtual consultations by their doctors.
Hopefully, their avatars won't have to spend a long time in the waiting room.
The world's first metaverse hospital is set to come out by October.
Do you know who has sent multiple people to the hospital?
Well, it's the 28-year-old strawweight female phenom Luana Pinheiro.
The Brazilian UFC fighter is ranked 15th in her division
and has a record of 10 wins and only one loss.
She's on an 8-fight win streak and is undefeated in the UFC.
There is an asterisk attached to her last fight
because she ate an illegal upkick to the face and won
because her opponent was disqualified.
Hey, a win's a win, right?
There's also an asterisk to her paycheck because she has partnered with BitWage.
She's the first Latin American woman in sports to receive her entire salary,
you guessed it, in Bitcoin.
Since she's from Brazil, she knows a thing or two about inflation,
and she opted to get paid in Bitcoin as a hedge against it.
She told Cointelegraph,
"Think about it.
It takes an average of 10-15 years for an individual to obtain a black belt in Brazil in Jiu Jitsu,
so my time preference here is just as long,
if not longer.
Everything else is just noise to me,
and the lower the price, the more Bitcoin I can secure for the future."
Not only is she brilliant inside the octagon,
her long-term mindset matched with her familiarity with delayed gratification
is going to pay off for her down the road.
She doesn't currently have her next fight set on the calendar,
but when she gets back inside the octagon,
I doubt she'll take a loss
because she wants to make those gains.
Alright, guys. That's all I got.
Have a great night.