OVERVIEW

Bitcoin Halving in 2 Days 😱

Depending on the time you read this, it will be 48 hours or less until the next Bitcoin halving. 🧠

In today’s Litepaper, we’re starting off with a Technically Speaking on Bitcoin’s weekly chart and looking at the bearish and bullish cases depending on how the week ends.

Also on deck: a big AI crypto name teaming up with a DEX, a Nebraska con man, and a big UK asset tokenization pilot that could be the future of banking.

Before we dive in, here’s today’s crypto market heatmap: 

And here’s a look at crypto’s total and altcoin market cap YTD:

TECHNICAL ANALYSIS
Technically Speaking - April 17, 2024 🐶

Bitcoin’s next halving is just a couple of days away, and everyone wants to know: will Bitcoin/crypto rally or dump? 💩

In the April 2 Litepaper, we looked at this $BTC chart:

Fast-forward to today, this is what the weekly chart looks like now:

So far this week, Bitcoin is just below the Tenkan-Sen. The next support zone is the interior trendline in the $56,500 value area. 🧿

As long as there's no new all-time high or 26-week low by week's end, the Kijun-Sen will rise next week to just below the interior trendline at $53,897.

But let’s take a zoomed-in view of the Composite Index, which can help shed some light on where Bitcoin is expected to go. 👀

There is hidden bullish divergence between the Composite Index and the weekly candlestick chart. However, neither Bitcoin nor the oscillator is near any identifiable support structure.

Bearish case: If Bitcoin closes below the Tenkan-Sen on the weekly chart, a trip down into the $55,000 - $56,000 value area looks highly probable.

Bullish case: If bulls can close Bitcoin above the Tenkan-Sen and the hidden bullish divergence remains, a resumption of the uptrend is the likely scenario. ✅

NEWS
SingularityNET Weds Minswap 👫

SingularityNET ($AGIX) and Minswap ($MIN) have set the Web3 world abuzz with a union that promises to bridge AI smarts with DeFi savvy. 💍

This partnership is looking to push the boundaries of what decentralized tech can do. Initiatives range from enhancing user interfaces to optimizing liquidity pools.

The synergy between SingularityNET’s AI capabilities and Minswap’s DEX infrastructure could be the blueprint for future DeFi innovations. With both platforms poised to pool their resources, the promise of a more integrated, intelligent blockchain ecosystem is just on the horizon. 💫

STOCKTWITS CONTENT
ICYMI: The Future’s Biggest Trends With ARK Invest’s Chief Futurist 🤖

We covered a ton of ground today with ARK Invest’s Chief Futurist, Brett Winton, at today’s live event. 👏

The conversation spanned across several hot topics, including:

• ARK Invest’s five investment themes and how they all tie together

• The rise of robotics and its impact on the economy and our lives

• Tesla’s long-term outlook and full-self-driving (FSD) execution risk

• How retail is gaining access to private companies like SpaceX

• The Sci-Fi series that’s done the best job of predicting our future

If you missed it, you can listen to the replay here. And be sure to tweet us your thoughts on the conversation! 🎧

NEWS
Conman From The Corn 💲

A Nebraska man, Charles O. Parks III, better known by his handle "CP3O," turned cloud computing into his crypto mint, scamming providers out of a cool $3.50 million. 🤖

His tools of the trade? A mix of fake identities and heightened privileges, which he used to mine a stash worth over $970,000 in crypto.

Parks didn’t just stop at mining; he funneled his ill-gotten gains through a labyrinth of exchanges and wallets and even splurged on some NFT artistry. All the while, luxury cars, and glitzy travel painted the picture of a lavish life funded by digital deceit.

With the feds now hot on his trail, Parks faces a slew of charges that could lock him away for decades. 🎲

NEWS
Tokenized Trials: UK Banks Experiment with Digital Deposits 🪙

Barclays ($BCS), Citi ($C), and a few high-flying card networks such as Mastercard ($MA) and Visa ($V) are neck-deep in a UK pilot for tokenizing bank deposits. 🏦

UK Finance, the mastermind behind this ensemble, is busy knitting a so-called Regulated Liability Network. Imagine a financial fabric so seamless that transactions across borders and banks become as easy as sending a text. This blockchain-backed ledger wants to cut down errors and fraud, making the banking process swifter than ever.

A pilot started in February and is expected to run for two to three years before it's ready for the big leagues. Come July, fintech startups and other tech aficionados will get to tinker with this platform.

According to Gilbert Verdian, CEO of Quant, banks are excited to deploy programmable payments that could redefine business models by breaking free from the "shackles of the current payment system."

And it's not just the big banks. Asset managers are lining up to tokenize their funds, while the possibility of settling mortgages through programmable funds is also on the table. 💸

Links That Don’t Suck 🔗

👨‍⚖️ Crypto lawyer John Deaton is outraising Elizabeth Warren in election campaign

🔷 ‘Big Four’ accounting firm EY to use Polygon PoS for business contracts

🐵 Bored Ape creator Yuga Labs just offloaded NFT games to sharpen focus on 'Otherside'

👑 Korean won tops US dollar and leads in crypto trading volume for Q1: Kaiko

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Email me (Jonathan Morgan) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of crypto enthusiasts? Reach us here. 👍

Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here. 🔍