Week 8 of 2023

Published: Feb 26, 2023

Last week I predicted we'd see a cool off and we got just that. Bitcoin hit $25,250 again this week but has since pulled back hitting a low of the week at $22,800.

The US equities market also cooled off and it seems crypto followed suit.

Other big news items this week

• Coinbase made a big announcement of their launch of Base. A new Ethereum layer 2 that is built on OP.
• FOMC minutes released on Wednesday indicate that inflation may still be strong enough to consider stronger rate hikes in the upcoming FED.
• Further layoffs in the industry with Coinbase, Dapper Labs, Messari and Polygon. The announcement from Polygon caused MATIC to drop considerably more than other alts.