BIC takes a look at the top five crypto influencers who played a role in making the news over this past week. February 17-24 sees the inclusion of some big names in the market, including Binance CEO Changpeng ‘CZ’ Zhao.
While the markets have seen some crazy volatility over the last week, bitcoin has reached an all-time high. Altcoins have seen huge gains, and the total market capitalization has also broken new ground. However the past week has also laid witness to bloody Monday and Tuesday. Liquidating over $6 billion in exchange positions.
This week BIC takes a look at a season trader, an upcoming trader, the CTO of Bitfinex, the CEO of Binance, and crypto analyst and CEO of CryptoQant.
NebraskanGooner on Twitter is a well-known cryptocurrency trader who often gives out free trading advice and analysis. He is an avid scalper of futures markets and has grown a hefty following thanks to his know-how of the markets.
Gooner offers insightful advice related to market movements, technical analysis, thoughts about market patterns and thought provoking ideas related to potential moves or how they should be played.
Gooner has been extremely active over the course of the last week. The veteral trader has been very opinionated on the recent bitcoin moves. Especially the sell-off witnessed on Monday and Tuesday.
With over 72,000 followers, the Arsenal fan has been a popular account to keep tabs on during the recent moves in the market. Any newbie traders or crypto enthusiasts who are looking for solid content should follow NebraskanGooner. He might just save you a lot of money, or even make you a lot. Or simply, you might learn a thing or two.
Another crypto trader and charting specialist featured this week is Altstreet Bets (Twitter handle @AltsreetBet). The crypto trader and technical analysis aficionado has an active following of 26,000. Altstreet Bets offers plenty of charting analysis on their account.
The trader has made some great calls recently including a long call on AKRO that saw a follower tip the trader $15,000.
Altstreet Bets has also been pretty accurate about the latest move on bitcoin. Following the recent drop, Altstreet Bets called for a bounce and a possible surge to $64,000 next on the cards for bitcoin. Of course everyone is waiting with bated breath to see if this plays out.
However it’s no surprise the TA specialist features this week as their account continues to see an influx of followers.
The case finally came to a conclusion this week as the New York Attorney General settled with the companies for $18.5 million. Essentially a slap on the wrist for the two crypto heavyweights – who are now banned from continuing illegal activities in New York.
The news comes as a ray of sunshine to the market and Tether in particular. The company had often been held under a shroud of darkness regarding the case, with many thinking the stable coin USDT could falter and go to zero based on the case with New York.
However much relief this week as the case has concluded.
While there was a huge market reaction to the news, the Bitfinex and Tether CTO took to Twitter to share his joy for the ending of a long case.
The news means Tether and Bitfinex can now operate without any legal issues hanging over their heads. Something the crypto community and Paolo will be happy about for sure.
No surprise to see the biggest exchange in the world’s CEO feature. Binance’s very own CZ features following a phenomenal past week for Binance, Binance Smart Chain, and Binance Coin (BNB). Also featured in the news this past week was UniSwap rival decentralized exchange (DEX) PancakeSwap. Which saw a surge in volume that led it to overtake UniSwap.
The popularity of the Binance eco-system last week led CZ to actively comment on conspiracy theories and major issues on the Binance exchange. One such issue was the suspension of Ethereum withdrawals. While many were led to believe this was a direct move by CZ to prevent Ethereum from competing against Binance Chain, the CEO did reply. CZ stated that the gas fees were exceptionally high and it was required to prevent the exchange from using too much gas.
CZ also commented on the massive influx in trading volume witnessed on Binance Chain. The surge in volume on the Binance Chain is almost certainly linked to high ethereum gas fees. It appears that lots of traders pivoted to Binance Chain for cheaper gas fees.
CryptoQuant CEO Ki Young Ju also features this week. The on-chain analysis expert and swing trader has been extremely active following the recent bitcoin price action.
The crypto analyst has been providing running commentary related to the moves bitcoin makes, and how relatable they are to previous market cycles. Ju has also been analyzing who has been buying the dips as well as what crypto exchanges are doing during the market volatility. The recent tweet regarding a potential sell-off due to the negative Coinbase premium was an alert that bitcoin might see red. The tweet proved to be right too.
Ki Young Ju offers insightful on-chain analysis that proves to be very powerful if used correctly. The approach is a breath of fresh air as it moves away from standard technical analysis and fundamental analysis.
Ju wraps up this week’s top 5 people making waves in the crypto market. The list offers a variety of key figures, traders and leaders in the space that will benefit anyone who follows them.