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Crypto Corner Podcast 885: Stocks discussed: (NasdaqCM: MIGI) (OTC: CONMF)
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Joe DiPasquale, CEO of BitBull Capital , has provided commentary to Investorideas.com regarding the state of Bitcoin's (BTC ) price and market:
We can see that BTC's relief rally was indeed unsustainable, and it gave up a lot of its gains after the CPI data came out higher than expected and the ETH merge turned out to be a sell-the-news event. However, the upcoming FOMC is going to be a key point for the markets as participants price in a 75 bps rate hike while some are expecting even more hawkish measures. Any signs of dovishness in the meeting will most likely give the market a strong push up, and we could see a short-term bottom forming if the price drops any further due to a 75 bps hike.We maintain that BTC remains attractive below $20,000 and we will continue to accumulate down to $17K and $15K levels, if they are seen. On the top side, if BTC does breakout in a big way, we can see $24K as the first major resistance, followed by $27K.
Bitcoin is trading for about $19.100 USD at press time, according to data from CoinMarketCap .
Mawson Infrastructure Group, Inc. (NasdaqCM:MIGI ) has announced its unaudited Bitcoin production and an operational update for August 2022. Highlights include the production of 70 BTC (1129 YTD), $1.8 million USD in revenue from the company's energy market program, and 3.7 Exahash in total installed capacity. James Manning, the company's CEO, said:
'Since July we have continued to adapt our business model to reflect lower Bitcoin prices and higher energy costs in the USA. Our direct responses included the activation of our Energy Market Program and our focus on high margin mining opportunities and jurisdictions. Our priority continues to be on the build out of high quality, low cost per MW deployed data centers in the USA.'
CoinSmart Financial Inc. (OTC:CONMF ) has shared a corporate update. Highlights include the launch of payment processing service SmartPay, which allows businesses to send and accept crypto payments, and 'guarantees no chargebacks, no holds, same day settlements, and up to 80% cost savings, compared to traditional payment methods like credit cards.' According to the press release, CoinSmart 'also became the first crypto platform to receive an Online Sports Wagering Vendor Permit from the State of Wyoming, allowing [it] to process cryptocurrency payments for legalized gaming companies licensed in Wyoming.'
Sam Mowers, Investorideas
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