Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.
3 wildest theories explaining $500B crypto market crash
Crypto proponents point their finger to the Fed interest rate hike, Wall Street and Russia as the prominent reason behind $500 billion crypto market wipe off.
New research expects a gloomy year for Bitcoin as DeFi and DAOs rise
On the brighter side, DeFi will continue to expand and adapt, with DAO governance eventually becoming a major driver of activity on the chain
Bitcoin $100K possible by chipping away at gold’s market share: Goldman Sachs
Bitcoin has a good chance to topple $100,000 by taking market share from gold as a store of value, Goldman Sachs analysts predicted.
Only a paper moon: Bitcoin price briefly shows $870B on CoinMarketCap
A mysterious glitch caused popular coins to show astronomical gains on CoinMarketCap, Coinbase, among others.
Bakkt shares skyrocket after partnering with Mastercard and Fiserv
Bakkt’s share price surged by 120% during Monday’s trading session on the heels of fresh partnerships with global payments firms.
JPMorgan says inflation concerns, not ETFs, driving Bitcoin price jump
JPMorgan strategists say that interest in the newly launching BITO Bitcoin ETF could cool after a week or so.
Bitcoin hits $60K for the first time since April after reports of imminent ETF approval
Bitcoin has recaptured the $60k position after a six month period of ups and downs.
El Salvador acts on Bitcoin price dip and buys 150 BTC
El Salvador didn’t miss the chance to buy the dip as the Bitcoin price fell back to $45,000 after a bullish week.
Bitcoin worth $2 billion moves for just $0.78
An unknown wallet benefited from Bitcoin’s low-fee blockchain yesterday with a transaction worth $2 billion.
El Salvador adoption a ‘coming of age’ for Bitcoin, says Fidelity exec
Fidelity’s Jurrien Timmer believes that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.”
Bitcoin price to hit $100K in 2021 or early 2022: Standard Chartered
Experts agree that a $100,000 price tag for Bitcoin by the end of the year would also exponentially boost Ether’s price.
Despite Bitcoin price crash, BTC is the internet of value transfer: Novogratz
Retail investors had good reasons to overextend in the crypto market, says billionaire Bitcoin bull Mike Novogratz.
Bitcoin tries to break $40K second time in two days
After six weeks pacing between $30,000 and $36,000, BTC price is now hovering around $40,000 resistance once again in two days.
Crypto experts see Bitcoin replacing fiat money in 20 years
In a new survey, a number of cryptocurrency and fintech professionals expected a “hyperbitcoinization” to take place by 2040.
New Bitcoin exposure Index to track equities that perform like BTC
Melanion Bitcoin Exposure Index tracks an equities basket with the highest correlation and revenue exposure to Bitcoin.
Why Bitcoin Could Break $40K In “Short Order” Says Analyst
Currently sitting at nearly 35k, Bitcoin’s price this week has been effected good and bad, by both news from China cracking down on the coin, and that El Salvador is giving each of it’s citizens $30 of BTC.
But thankfully, market analysts are still exceedingly bullish on Bitcoin breaking $40K quite soon. This due to the fact that quarterly options on the coin have just expired, and that the market downside was retested and able to hold at a higher low than before.
From here, Bitcoin could finally bounce back, and once again break the 40k threshold. Investors hope it continues to find it’s way back to highs reached earlier this year.
Quarterly options expired, time to fix the market:
Expecting a full reversal over the next few months to ATHs
Strong reclaim of support after fakeout to downside, retested higher low.
Expect range high 40k to be re-tested and then broken in short order. pic.twitter.com/ww47qvTymT
— resolute (@resolutemex) June 28, 2021
Investors are enthusiastic that all time highs are on the horizon for the top crypto. Since the market was able to hold at higher low,
Related Reading | Bitcoin Gains Traction, Why BTC Could Target Fresh High Above $35K
Why Bitcoin Is Primed To Move Now
One huge reason why Bitcoin could be primed to move right now is that Mexican billionaire Ricardo Salinas Pliego urged people to buy and noted his bank is working to be the first lender to accept the crypto in the country. On Sunday in response to a tweet from Michael Saylor, Pliego stated,
Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin. If you need more details or information follow me on my Twitter account
Pliego has been a longtime bitcoin advocate. But using his financial prowess to allow citizens and investors in Mexico to have access to the crypto takes his furtherance to a whole new level. He understands the importance of blockchain technology on the long term and is helping give it’s decentralized financial freedom to people in his country.
The market could further be primed as just a few weeks ago, a slew of South American countries were looking to adopt crypto in various ways. Countries including El Salvador, Paraguay, and Panama have been leaders in the region. Recently they each moved with legislation to adopt cryptocurrencies, and to allow crypto exchanges to operate within their borders.
Related Reading | Top English Cricketer Kevin Pietersen Acknowledges Bitcoin (BTC)
Will The Crypto Adoption Revolution Continue?
Late last week, Jack Dorsey announced a summit on Bitcoin called The B-Word. It will host many tech and business leaders around the world converging to discuss and demystify both BTC and blockchain technology.
With more people and businesses around the world finding out about and using cryptocurrencies, there will be continued adoption of the technology. Plus, new innovation in blockchain technology will bring new applications to everyday life in markets we don’t even exist yet.
Featured Photo by Mihály Köles on Unsplash
Bitcoin short-term setup is challenging, JPMorgan strategists warn
Bitcoin and the crypto market are at the beginning of a healing process, JPMorgan analysts say in a note.
Institutions have no appetite for Bitcoin at this price level: JPMorgan
JPMorgan does not expect a bull run for Bitcoin over the medium term based on the BTC-to-gold volatility ratio.
Hodlers see opportunity in Bitcoin price crash, CoinShares exec says
Meltem Demirors believes that the current Bitcoin price drop is a correction, and it is weeding out the paper hands.