Bitget Hot Takes (May 22 - May 28)
Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts.
The latest Bitget Hot Takes can be found here.
Central Themes
• Indicators are showing bullish signs for BGB.
• The U.S. debt ceiling is most likely to be raised; the deal is ‘ready for Congress vote’.
• Retail crypto trading available for Hong Kong citizens from June 01, 2023.
• Zhengzhou establishes a US$8.5 billion Metaverse fund.
• Bitcoin NFT sales volume skyrocketed in May, falling behind Ethereum only.
Bullish On BGB
Demand on BGB has cooled down a bit, with the weekly high decreasing by 0.8% and weekly low by 4.2%. BGB volume remains the same as the week before; and prices have been on the rise since last Friday.
Source: TradingView
The weekend was all green for BGB; it also locked in one of the best 24H change last week on Sunday at 2.47% compared to BTC's 1.31%, ETH's 1.97% and BNB's 1.36%.
Indicators are suggesting that now could be a good time to buy BGB. The MACD (blue) line has crossed above the Signal (orange) line and the zero line, RSI is well within the 30-70 standard range, even the Accum/Dist line is confirming this trend.
Learn about technical indicators here: Trading 101: Technical Analysis Explained
There has been a series of events taking place after the release of the BGB White Paper, including the BGB Lotto, BGB Staking, 40% APY BGB pool on Bitget Launchpool, and the BGB exclusive trading and referral promotion. The latest BGB earning opportunity is offered for Bitget CandyBomb lovers here!
Check out our BGB Sail Series to see how impressive BGB monthly performance is:
… and explore the popularity and recognition BGB has earned here: Why BGB Is Your Bluechip Exchange Token
Result In: Debt Ceiling Deal Finalised
Per an official announcement by the Speaker of the House Kevin McCarthy, he and the President have reached an ‘agreement in principle', that is, to raise the debt ceiling for two years. However, the bill must pass the House and the Senate before June 05, otherwise the U.S. won't be able to fulfil the ‘government's obligations’. markets can expect a short-term rally in appreciation of the deal, especially in crypto where the dominating reference currency is the US-Dollar.
What is the next big thing in crypto? Tokenised securities might just be what you're looking for. The latest data shows that the market cap of on-chain T-bills and ETFs has surpassed US$200 million, which merely came into existence in January 2023.
Source: Dune Analytics @steakhouse
Another ongoing trend is Bitcoin NFTs. The total number of Bitcoin inscriptions tripled in May from 3,069,006 on May 01 to 9,825,343 on May 28, with most of them being texts (91%) and images (in png and webp format). Supply surging equals a rise in demand; Bitcoin NFT sales volume this month is recorded at US$155.8 million, which is more than twice the sales volume of Solana-based NFTs and five times of Polygon-based NFTs. Mind you, Solana is home to one of the biggest NFT marketplaces, whereas Polygon is picked as the trusted partner of Starbucks, Salesforce, etc. for their NFT-based loyalty program and Mastercard, for the issuance of a NFT debit card.
Source: CryptoSlam! NFT Collection ranking
The Latest Bitget News
A new round of Bitget CandyBomb is opened! As an exclusive gift for new users, the second token to be airdropped on our task-and-airdrop platform is BGB. There are 60,000 BGB to be unlocked - trade and invite your friends to win more tickets!
Following the BIP1 IEO completion on Bitget Launchpad, BIP1USDT is now listed on Bitget BRC-20 Zone! There are currently seven BRC-20 tokens, with ORDIUSDT available for margin trading at 3X leverage, and we constantly add new ones to make sure that our traders can trade the best tokens.
Source: Bitget BRC-20 Zone
We are offering new earning opportunities as well! DONS is the latest addition to Bitget Flexible Savings with a 200% APR! You can always get some more DONS here to enjoy the lucrative rate! And you still have four days left to subscribe to BTC deals on Bitget Dual Investment to earn up to 101.43% APR or ETH deals for APRs as high as 64.54%.
Bitget Academy was established with the mission of bringing expert knowledge to the masses. In Q1 2023 only, we have released over 200 educational articles in 20 different languages, covering everything from in-depth guides and practical tips to market updates. In order to further assist beginners on their crypto journey, we have created the Blockchain Fundamentals Course with three digestible modules - you will receive a certificate after passing each module! Get your certificates today: Bitget Academy Blockchain Fundamentals Course
New Events
Bitget Pizza Day — HODL BTC/USDT/ETH/USDC/BGB, earn up to 15% APR!
Join the grid trading contest and run strategies to share 30,000 BGB
Copy trades of new pairs, unlock $21,000 in USDT! ORDIUSDT is available on One-Click Copy Trade
Invite Friends to Win 1 BTC and Hot Coins Such as ETH, BGB, and XRP!
Good things come in twos! Share 100,000 USDT!
Celebrate Regional Concept token trading and grab a share of 10,000 BGB!
Buy Ethereum (ETH) via credit/debit card on Bitget
Bitget X CoinBureau Trading Competition: Exclusive 15,000 USDT Promo and 40K Extra Bonuses!
Bencoin (BEN) to be listed on Bitget — Grab a share of 160 billion BEN from Launchpool!
The Dons (DONS) to be listed on Bitget — grab a share of 12,500,000 DONS
Bitget to list PIZA (PIZA) in the BRC-20 Zone — trade to grab a share of 50,000 PIZA!
Good Reads
Journey Into The Crypto-Verse: Your Beginner's Guide To Bitcoin Trading On Bitget
The Ethics Of Investing In Cryptocurrency
Crypto And Healthcare: How Blockchain Tech Is Revolutionizing The Industry
The Top Crypto Exchanges For Trading In 2023
How Cryptocurrency Might Affect Traditional Banking
Simply create an account, and start exploring the incredible Bitget-Verse today!
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