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⚡Microsoft in The BTC Game🎲

Croxroad

21 Sep 2023 — 5 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

🔐 Microsoft Unlocks BTC

Here's some exciting news in the tech world. It looks like the next batch of Microsoft hardware, you know, like their new computers, tablets, and stuff, might come with improved support for crypto wallets. Basically, this means it could be easier and more convenient to manage your cryptocurrencies on Microsoft devices.

This information comes from a report by Axios, a news outlet. They got their hands on some documents that spilled the beans about Microsoft's plans. But here's the interesting part: these documents were actually released as part of a legal battle between Microsoft and the US Federal Trade Commission. The FTC is trying to stop Microsoft from buying Activision Blizzard for a whopping $69 billion. So, while Microsoft is dealing with this big lawsuit, we're getting a sneak peek into their crypto-related plans for their future hardware. It's like a tech drama unfolding in real life!

According to the documents, Microsoft has some exciting plans in the pipeline. They're gearing up to launch a bunch of new products, and it's quite the variety: we're talking about new game consoles, smartphones, web browsers, personal computers (PCs), and even a brand-new "cloud system."

Now, here's where it gets interesting for the BTC world. These new devices are going to come with some seriously upgraded support for BTC wallets. You might be wondering, "What's a BTC wallet?" Well, it's called that because it operates kind of like a physical wallet but in the digital realm.

However, unlike your leather wallet, a crypto wallet doesn't hold actual cryptocurrency. Instead, it keeps something super important called "private keys." These private keys are like secret passwords that let you access and manage your cryptocurrency on a blockchain. So, Microsoft is essentially making it easier and more advanced for people to keep their digital assets safe and accessible on their devices. It's like giving your digital money a fancy, secure home!

Axios, the news source that spilled the beans on Microsoft's plans, gave us a little heads-up. They mentioned that Microsoft's plans might have changed since those documents were released, and as of now, the company hasn't given any official comments or responses to the media about it.

However, the mere fact that one of the biggest tech giants in the world is even considering diving deeper into the world of cryptocurrency with its devices is a pretty significant deal. It could potentially be a huge boost for the entire crypto industry.

You see, for crypto to become more mainstream, it needs to be user-friendly and accessible to folks who aren't already deep into the crypto world. Making it easier for everyday people to use "web3" services (that's a term for the next-gen, blockchain-based internet) is crucial if crypto is going to reach the widespread adoption that many people hope for. In simpler terms, Microsoft's potential move could make crypto less intimidating and more usable for the average person, which is a big step forward in the crypto world.

Microsoft has been busy in the crypto space. They're partnering with Aptos, a blockchain protocol created by ex-Facebook employees, to develop AI blockchain products and explore blockchain-based financial products. Additionally, they've teamed up with LeverFi to tackle challenges in the decentralized finance (DeFi) industry. It's clear they're making significant moves in the crypto and blockchain world.

⬆️ Japan Embraces Institutional Bitcoin

September 19th, a pretty significant announcement came from Laser Digital, which is the digital assets branch of the Japanese financial services powerhouse, Nomura.

Well, Laser Digital is getting ready to roll out a brand-new investment fund, and this one's specifically designed for institutional investors. What's it all about? Essentially, it's a way for these big players in the financial world to get their hands on Bitcoin.

In a nutshell, it's like Laser Digital is saying, "Hey, institutions, we've got this fund that allows you to invest in Bitcoin, so you can join the crypto party too!" This move reflects the growing interest and acceptance of cryptocurrencies among traditional financial institutions.

The "Bitcoin Adoption Fund" is the first of many digital asset investment products from Laser Digital, Nomura's digital assets subsidiary. It's designed for long-term Bitcoin investments and uses the secure custody solution, Komainu, to keep client assets safe.

According to a report by Santiment, Bitcoin had a positive reaction to the news. The data showed that Bitcoin quickly rose to the top of the charts when the announcement was made. In fact, the charts from Santiment demonstrated that this news drove the price of Bitcoin above $27,000.

😵 Hanging Man

The hanging man is a candlestick pattern often encountered in technical analysis of financial markets, such as stocks, forex, and cryptocurrencies. It serves as a crucial signal for traders, especially those looking to identify potential reversals in market trends.

Visually, a hanging man candlestick appears as a single candle with specific characteristics:

1. Color: The hanging man can be either green or red, and its color depends on the preceding candlestick. If it follows a bullish candle, it may appear green, signifying an upward trend. Conversely, if it follows a bearish candle, it is typically red, suggesting a downward trend.

2. Short Body: The most distinctive feature of the hanging man is its short body. The body represents the price difference between the opening and closing prices during a specific trading period. A short body indicates that there hasn't been a significant change in price during that period.

3. Long Lower Shadow: What truly sets the hanging man apart is its long lower shadow, which extends well below the body of the candlestick. This lower shadow represents the price range from the session's low to the closing price. The elongated nature of this shadow is essential, as it indicates a significant intraday price drop.

Now, the significance of the hanging man lies in its interpretation. It typically emerges at the end of an uptrend, suggesting that the market has been bullish, but there are signs of potential trouble ahead. The long lower shadow implies that prices fell substantially during the trading session, causing concern among traders. While the hanging man suggests a possible reversal towards a downtrend, it's important to note that bulls might make a temporary push to drive prices higher. However, this rally is often short-lived, as the pattern implies that they will eventually lose control, leading to a notable sell-off.

In essence, the hanging man serves as a cautionary signal, warning traders of a potential trend reversal and encouraging them to exercise caution, closely monitor market conditions, and consider their trading strategies accordingly.