Bitcoin Waits For (Stock Market) Direction While Eminem Buys NFTs

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Last Updated on 2 January 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin is trading around $47k for the biggest part of 1 January and seems to be looking for direction. Probably this won’t take place until stock markets open on Monday 3 January and we’ll see whether hedge funds, classic retail investors and pension funds are willing to pour more money into crypto this year.

The beginning of January always sees a seismic shift for the investments of pension funds

According to analyst Scott Melker, known as Wolf of All Streets, we needn’t be worried though, as he predicts a quick rise to $50k in the first weeks of January.

Scott said:

Bitcoin just closed the yearly candle. Happy New Year. The best part? We have confirmed bullish divergence on the 4-hour chart with RSI coming out of oversold. Potential on 6 and 12 hour. Up only (probably). Should see 50Ks again this week with a trip to overbought.

Advertentie.

Bored ape yacht club

Legendary rapper Eminem is apparently into NFTs. He’s bought some 15 of them already according to a news report. His latest purchase, part of the bored ape yacht club, which we told you about six weeks ago, is now his new profile pic on Twitter.

Rumor has it Marshall Mathers paid around $460k for the image.

The creator of the NFT thanked the rapper on social media for the purchase and asked if he could write a sentence for his new song as well. Not sure if Eminem will let him though.