The cryptocurrency market digest (BTC). Overview for 01.08.2022


A month ago, we wrote that the crypto market was panicking. Over the time that passed, the crypto sector has somewhat gained balance: buyers did not have enough power to regain control but balanced out quite easily.

On Monday, the BTC is near $23,303. The past week and month ended up with growth: over July, the BTC rose by 16.8%.

The market remains focused on the American statistics. The S&P 500, Nasdaq indices and the BTC still correlate, so reports are extremely important. We are looking for official and Markit releases. The growth in the indices will pull the BTC up as well, but hardly over $23,500.

Capitalisation of the crypto market is evaluated as $1.09 trillion; the fear index dropped from 39 to 33 points.

Market cares for NFTs again

The Tiffany & Co company will launch sales of 250 pendants on 5 August. The offer is meant for owners of NFTs from the CryptoPunk collection. One pendant will cost 30 ETH. Design is customisable. As long as the offer is limited and meant for a certain group of clients only, the price of pendants in the secondary market might increase.

Tesla reported losses due to holding BTC

In Q2, 2022 Tesla suffered a loss of $170 million due to the BTC price falling. However, the company managed to make $64 million on conversion of the BTC in fiat currencies.

CAR: citizenship and land secured by crypto

The Central African Republic is carrying out a state project, offering investors citizenship, electronic residency, and land secured by the Sango Coin crypto. To buy citizenship, for example, an investor will need to make a deposit of $60,000 in Sango for five years. Electronic residency will cost $6,000 for three years.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.