Recurring market commentary on what’s happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG. Market commentary Good Morning! Bitcoin (BTC) is currently trading around 19.5k USD (+0.67% in 7 days) and Ethereum (ETH) stands at 1.34k USD (+0.88% in 7 days). The Ethereum/Bitcoin ratio (ETH/BTC) is consolidating at 0.0686 (+0.36 in 7 days). Bitcoin BTC/USD (daily) / Charts: TradingView No clear direction for the market BTC has been in a choppy sideways trend for two weeks now. On Tuesday morning, we saw a 9% move to the upside, followed by an instant price drop during the day, eliminating all gains. It’s worth mentioning that first Monday and then Tuesday consecutively produced all-time highs in the BTC/USDT volume on Binance. BTC/USDT and BTC/BUSD on Binance currently have the highest 24-hour volume, and account for about 30% of all BTC exchange volume. Likewise, volume on Monday for BTC/GBP, on its largest market Bitfinex, was 1,000% higher than its average daily volume. This happened on the day after the pound tanked. This reiterates the narrative of investors favouring BTC when fiat currencies are threatened and trust in central banks is lost. Monthly bitcoin price action / Source: Coinglass September is finally coming to an end. BTC has once again booked negative returns, as it has in the previous five years. October has historically been a green month for BTC. Since 2013, only two Octobers have produced negative returns for BTC. These came the year after the last two bull markets peaked at the end of 2013 and 2017. Markets Market review calendar week 39 – 2022 Legal & Compliance The global development of crypto regulation Investing An analysis of retail investors in cryptocurrencies Financial Products The first Bitcoin and Gold ETP (BOLD) listed on SIX Altcoin developments QNT is the top gainer of the week, adding 29.6%. Quant is not a very hyped or known project; at least it flew under my radar for a while. The British company is known for its interoperable operating system Overledger, which facilitates the development of multi-chain applications. One of their specialisations is CBDCs. It’s no secret that governments are pushing to crack down on current stablecoins, and exploring their own digital currencies, CBDCs. Last week, details of a draft bill by the House Financial Services Committee to regulate stablecoins were released. While this week, Powell spoke on the ideal characteristics of a US CBDC. These recent political developments have sparked rumours of central banks adopting Quant Network’s overledger technology for CBDC developments. MIOTA is up 7.4% on the week after the Shimmer network launched on Wednesday. This is an important stepping stone in developing the IOTA ecosystem. Shimmer is the staging network of IOTA. It promotes the development of smart contracts to launch DeFi applications, NFTs, and native tokens. The utility token SMR can already be claimed by IOTA stakers, and will be listed on exchanges soon. Happy Trading! Copyright © 2021 | Crypto Broker AG | All rights reserved. All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights. Disclaimer This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication. Risk disclosure Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.