Bitcoin Waits For (Stock Market) Direction While Eminem Buys NFTs

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Bitcoin is trading around $47k for the biggest part of 1 January and seems to be looking for direction. Probably this won’t take place until stock markets open on Monday 3 January and we’ll see whether hedge funds, classic retail investors and pension funds are willing to pour more money into crypto this year.

The beginning of January always sees a seismic shift for the investments of pension funds

$BTC has now also confirmed bullish divergence with RSI on the 6 hour and 12 hour charts.

Potentially a small one on the daily.

Bottoming is a process. Should be slowly happening now, at least locally. https://t.co/7nHy04AHGV

— The Wolf Of All Streets (@scottmelker) January 1, 2022

According to analyst Scott Melker, known as Wolf of All Streets, we needn’t be worried though, as he predicts a quick rise to $50k in the first weeks of January.

Scott said:

Bitcoin just closed the yearly candle. Happy New Year. The best part? We have confirmed bullish divergence on the 4-hour chart with RSI coming out of oversold. Potential on 6 and 12 hour. Up only (probably). Should see 50Ks again this week with a trip to overbought.

Bored ape yacht club

Legendary rapper Eminem is apparently into NFTs. He’s bought some 15 of them already according to a news report. His latest purchase, part of the bored ape yacht club, which we told you about six weeks ago, is now his new profile pic on Twitter.

#Eminem today bought Bored Ape Yacht Club (BAYC) #9055 for 123.45 #ETH (~$454,868) and changed his #Twitter profile picture. pic.twitter.com/nyRN3diypG

— Serg Chik 🎏 (@ChikSerg) January 1, 2022

Rumor has it Marshall Mathers paid around $460k for the image.

I’m living in a simulation.

Thank you @Eminem for buying my ape and joining the club!

Madness. Let me write a lyric in your next single 🤣 pic.twitter.com/myGNRmMLeD

— GeeGazza  (@Gee__Gazza) December 31, 2021

The creator of the NFT thanked the rapper on social media for the purchase and asked if he could write a sentence for his new song as well. Not sure if Eminem will let him though.