JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund and other news

Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind...

View this email in your browser A week in review: May 22–28 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: #1. Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment fund. With $3 billion earmarked for venture investments and $1.5 billion for early-seed projects, the fund will look to invest in companies at various stages in their life cycle. Andreessen's new fund provides a strong indicator that venture capital interest in the crypto market remains high despite evidence of a brutal bear market. Continue reading #2. JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset A client-focused note from JPMorgan this week detailed the banking giant's thoughts on Bitcoin, claiming $38,000 as the asset's fair value. The seemingly bullish outlook came on the heels of depressed price action for Bitcoin, which has been rangebound below $30,000. But even in February, when BTC was valued at $43,000, JPMorgan strategists said that $38,000 was fair market value. This week's client note from JPMorgan also pointed to the possibility of positive price action for the entire crypto space — provided venture capital investment doesn't waver. Continue reading #3. WEF 2022: PayPal looks to embrace all possible crypto and blockchain services Per comments from vice president Richard Nash, PayPal has its sights set on giving its platform more blockchain and crypto influence. "Just walking slowly in the crypto shield with buy/sell/hold in certain jurisdictions," Nash told Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland. "And then looking to work with others to embrace everything we can, whether it'd be the coins that we have today in PayPal digital wallets, private digital currencies or CBDCs in the future." Continue reading #4. Prediction of the week. Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level Bitcoin's price has continued to struggle in recent days, often trading below $30,000, according to Cointelegraph's BTC price index. However, the asset could still fall considerably further, according to Rekt Capital. Over the course of Bitcoin's history, the asset's price has respected the 200-week moving average (200WMA). "#BTC tends to wick -14% to -28% below the 200-MA," Rekt Capital detailed as part of a thread on Twitter. "And since the $BTC 200-MA now represents the price point of ~$22000... A -14% downside wick below the 200-MA would result in a ~$19000 Bitcoin," they added. "And if #BTC were to repeat the March 2020 downside wicking depth below the 200-MA $BTC would revisit the ~$15500 price point." Continue reading #5. FUD of the week. 'Yikes!' Elon Musk warns users against latest deepfake crypto scam Did you watch a video of Tesla CEO Elon Musk advertising 30% gains via deposits on a crypto platform? Be warned that the video is a scam. Classified as a deepfake, the video was doctored to look real but is not, as verified by a Twitter comment from Musk himself. The video harnesses real footage of Musk doing a TED Talk earlier in 2022, altered to deceive viewers into a scam. Deepfakes are nothing new, however. This recent effort utilizes Musk's fame in tandem with his known crypto involvement. Continue reading #6. FUD of the week. Crypto spam increases 4,000% in two years — LunarCrush The last two years have resulted in a 3,894% uptick in crypto-related spam, according to recent data from LunarCrush, a crypto intelligence outfit. One aspect making detection difficult: The undesirable action is not all bot related, with a surprising amount coming from humans. Twitter is a hotbed for spam, based on the LunarCrush data. Continue reading 3.5 million people follow us on social media Download our official app:

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