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Bitcoin is flashing multiple bottom symbols, according to Yassine Elmandjra, an analyst at ARK Investment Management.

Elmandjra notes the king crypto (BTC) is trading below its 200-week moving average (MA) short and long-term cost bases.

It’s only the fourth time that’s happened in Bitcoin’s price history, according to the analyst.

β€œAs stakeholders with the most skin in the game, miner capitulation is a key bottom marker. The Puell Multiple, a measurement that compares daily miner revenue to its yearly average, is at a 3-year low.”

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Show Notes / News Resources:
βœ” Bitcoin Technical Analysis:
βœ” Bitcoin Vs. Bank:
βœ” Bloomberg Analyst Tips Bullish:
βœ” BTC Flashing Multiple Bottom Signals:

πŸ”΄ DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make.​​​​​​​​ Always do your own research and never invest what you cannot afford to lose.

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Facebook’s New Metaverse

In 1992, the writer Neal Stephenson first introduced the term “metaverse” to describe 3D virtual worlds. The concept of metaverse has evolved through the development of virtual reality, augmented reality, and cryptocurrency. While the concept of metaverse isn’t completely clear, recent news stories have focused on how it could transform virtual reality. The movie Ready Player One, which debuted in 2018, introduced the concept of virtual reality, and Facebook’s 2014 acquisition of the virtual reality platform and hardware company Oculus.

The emergence of the crypto-asset market is helping to make the concept of the metaverse more acceptable in the mainstream. According to a recent study from Citi GPS, the number of people using the metaverse could exceed five billion by 2030. Despite this impressive growth, the industry is still facing some problems, including regulatory uncertainty, money laundering, counterfeit NFTs, trading scams, and high volatility of most cryptocurrencies. Despite these challenges, the company has been investing in foundational technologies in cryptocurrencies and internal product development. The company has also been focusing on non-fungible tokens, which are a form of digital currency that stores value and authenticates ownership on a digital ledger. As of last year, these types of tokens have seen a spike in trading volume of over $25 billion.

In addition to enabling the development of a massive creative economy, the metaverse also enables a new level of entertainment. Users can meet with AI avatars and make friends in virtual spaces. For instance, the company’s Sensorium Galaxy contains a vast music offering, and collaborations with some of the world’s biggest musicians. The company is planning to expand the platform with additional content centers, such as a planet devoted to meditation and self-actualization.

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