BTX Weekly Updates: Dec #1 2022

December 12, 2022

Project Fundraising Highlights

Weekly Brief

  1. OpenAI Announced ChatGPT, An AI Chat Bot Which Can “Literally” Do Everything

2. Telegram Wallet Bot Now Supports Crypto Trading & Fiat On-Ramp

3. Magic ($MAGIC), Rocket Pool ($RPL), and Aragon ($ANT) on Coinbase Listing Roadmap

4. Coinbase Disables Mobile NFT Transfers, Citing Apple’s App Store Policies

5. Why Nobody Really Uses Web3… Yet


  • Esoteric Techno-Babble (difficult concept to explain)
  • Circular Circus Contagion (circular economy)
  • Hyper-Financialization (average consumer doesn’t really care that much about finance)
  • User-Experience Landmines (poor UX)
  • The Dial-Up Era of Web3 Throughput (limited scalability and high latency)
  • The Elephant In The Room (lack of clear legal frameworks and guidance regarding crypto-assets)

6. When Will The Bottom Come for Bitcoin?


  • Deleveraging will continue
  • Bitcoin’s price will bottom out by the end of the year, with a subsequent rally expected to last until early 2024; then a strong rally after the actual halving
  • Whether Bitcoin will make a second dip is still uncertain, but we are indeed close to the bottom. A potential low is around $13K
  • Bitcoin’s support around $16K is stronger than $20K, mainly because this is the shutdown price of Bitcoin’s mainstream mining machines; Bitcoin will encounter the biggest reduction in mining difficulty in 2022 on Dec. 5, which also means miners have shut down in large areas, which is also an important signal that the market has bottomed out
  • There are currently signs of bottoming, and it is still necessary to wait for the MA65 and other moving averages to verify the bottom

7. Discord Creator Portal Online, Creator Subscriptions Enabled

8. Kraken & Bybit Layoff

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