Bullish action in the markets that started on the last day of September continued almost ceaselessly until Oct 20th, when we witnessed the first correction. The Bitcoin price surged all the way to $67,000, as it surpassed its previous all time high. Despite the correction (temporarily even below the $60,000 level), the chart looks bullish and ready for a new move towards higher highs, especially when you take into account the Bitcoin price formation of a Bull Flag, which is a bullish pattern that indicates continuation of the previous trend (bullish), as well as successful bounce off the EMA21 line.

The next week the all time high was broken by Ethereum and some other altcoins in accordance with the Bitcoin-Altcoin correlation that predicts massive growth in altcoins when Bitcoin moves sideways or falls slowly.

Let’s take a look at the most notable news concerning the crypto world in the past month. In the first week it has been reported that the U.S. District Judge ruled that individuals holding the XRP token cannot act in Ripple’s ongoing lawsuit as defendants, but concluded that amici status strikes a proper balance between permitting movants to assert their interest in this case and allowing the parties to remain in control of the litigation. In the second week we witnessed rumors that Venezuelan international airports will start accepting cryptocurrencies like Bitcoin as payments for tickets and other services, as well as multiple billionaires pointing out that they are buying BTC or ETH to hedge against upcoming inflation.

The rally in BTC price in the second and third week was attributed to quite a few macro factors. It was for the most part a result of news that regulators had green-lit two ETF applications after years of failed applications, as well as the USA increasing its debt limit by $480 billion to pay off its obligations until early December and inflationary pressures by unending stimulus and the upcoming spending plans.

When it comes to major events here at NewsCrypto, the most important one is definitely the release of our Stellar-Polygon bridge on Mainnet. The Bridge enables all XLM holders to swap their tokens and put them to work in numerous DeFi protocols Polygon has to offer. When a user swaps their XLM tokens over to Polygon, they receive Wrapped Stellar Lumens (wXLM), which happens almost instantly and at close to zero costs (1 XLM per transaction, regardless of the amount). Our Bridge in a way connects two different worlds and allows you to get the best of both of them.

The most remarkable thing about it, is the fact that it opens the door to billions of dollars of liquidity on Stellar (it has a Market Cap of almost $10 billion) that can now access numerous DeFi Protocols on Polygon. All this, however, is only the first step of NewsCrypto’s development on Polygon, as our team is already working hard on our own groundbreaking DeFi protocol.

When it comes to any cross-chain solution, the most crucial thing is security, which is precisely the reason why we implemented Chainlink Proof of Reserve. It makes sure that the balances and transactions are always synced up, hence even if the data flow of the bridge itself is somehow compromised, the relevant data is always backed up by an independent Chainlink oracle solution on Stellar that constantly monitors all transactions.

The second thing that must be mentioned is the release of the Backtesting Bot that uses our own proprietary algorithms to automatically detect the most important patterns on the price charts of top cryptocurrencies. Apart from simply detecting the patterns, it also calculates the technical price target and looks at how many of the patterns hit it, giving you a success rate expressed as a percentage. This revolutionary tool empowers every trader with the ability to test multiple strategies without extensive programming knowledge or wasting their precious time on incorporating data samples from charts, with a wide range of cryptocurrencies, so that it enables a variety of market conditions. 

This month we also celebrated the 2 year anniversary of the first listing of NWC. On this particular occasion we released a blog that covers what we’ve accomplished already and also briefly dives into our plans for the future. It is available here. It starts with mentioning the exchanges where you can purchase our token and all of the blockchains where it’s available, continues with the number of tokens we’ve burned, major partnerships and finishes with our token’s utilities and future plans. Hand in hand with each of the major developments made, we’ve also burned 1 million NWC. Having promised 10 burns this year, you can expect 5 more to come together with important milestones until the end of the year

Another thing worth mentioning is the update of our Whitepaper and Litepaper to completely align them with our mission. Lots of things have been added as we constantly come up with new ideas and goals for the future. The Whitepaper is available here and the Litepaper here.

Make sure you check out at least the shorter version in the Litepaper, to deepen your understanding of our mission.

Lastly, our team also introduced new interactive and educational content into the weekly routine. Every week Newsco shares his trading tips with the community to make sure they don’t fall for scams, make trading mistakes or let emotions affect their trading decisions. To reward the most active members of the community, we’ve introduced a new competition called Newsco Quiz, where Newsco awards the most aspiring learners. Every week you can compete for your share of the prize pool of 200 NWC (or even more, if Newsco gets extra generous).