XRP, the native cryptocurrency of the XRP Ledger, has recently experienced a significant surge in value, gaining 11% over the past week. This impressive growth has positioned XRP as one of the top-performing digital assets in the market, with its price rising from $0.523 to $0.584 in a week. The increase in value has been accompanied by a substantial rise in trading volume, indicating strong investor interest and activity.
Several factors have contributed to this rapid growth. One of the key drivers is the anticipation of a major breakout in XRP’s price history. Market analysts and investors are closely watching XRP, expecting it to surpass key resistance levels and achieve new highs. This optimism is fueled by positive developments in Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has seen favorable rulings for Ripple in recent months.
Ripple is the company behind the XRP Ledger, a decentralized blockchain technology that facilitates fast and cost-effective cross-border transactions. The XRP Ledger’s unique features, such as its ability to settle transactions in less than five seconds and at a fraction of the cost of traditional methods, continue to attract both institutional and retail investors. These technological advancements and strategic partnerships with various financial institutions further solidify XRP’s position in the market.
As a result, XRP remains a prominent player in the cryptocurrency space, with its recent performance underscoring its potential for future growth. With ongoing legal developments and strategic initiatives, XRP’s trajectory appears promising, making it a cryptocurrency to watch in the coming months. Investors are eagerly awaiting the next moves in the market, hoping to capitalize on XRP’s potential for further gains.
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BITCOIN WILL STILL FINISH THE YEAR BETWEEN $140K-$160K, SAYS CELSIUS NETWORK CEO!!!!!
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Alex Mashinsky, CEO of crypto lending platform Celsius, says he’s standing by his prediction of Bitcoin ending 2021 somewhere in the $140,000-$160,000 range.
The Celsius CEO says that once BTC breaks a certain range not far above its current prices, the flagship crypto won’t be facing any tough resistances until new all-time highs. Mashinsky adds that he sees BTC flying up above $140,000 by the end of the year for a rally of 265% based on the current price of $38,300.
“I think we are also hitting some resistance here in the $40,000 to $45,000 levels, and there is not a lot of resistance above that, so I think we’re going to consolidate here and break to new highs. I still stand by my prediction that this year we’ll see anywhere between $140,000 and $160,000 per Bitcoin.”
In other trending Bitcoin News today: Crypto Analyst Predicts Massive Ethereum Breakout, Forecasts New Bitcoin All-Time High by November!
He also says that a “flippening,” or an overtaking of Bitcoin in terms of market cap, is in store for Ethereum.
“This consolidation will come to an end soon. The flippening is knocking the door.”
As for Bitcoin (BTC), the crypto trader also sees the leading cryptocurrency meteorically rising to a new all-time high of around $80,000 by November. According to Inmortal, Bitcoin’s daily chart looks very similar to its price action at the start of 2020 when BTC rallied from $7,000 to $10,000 in a few weeks.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Celsius CEO Still Sees Bitcoin Finishing the Year Between $140,000–$160,000
https://cointelegraph.com/news/binance-to-bring-bitcoin-payments-to-shopify-via-new-partnership
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Bitcoin Price Predicted to Skyrocket to 0K in 2020 by Silk Road Founder Ross Ulbricht | BTC News
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http://trade.cryptonewsalerts.netThe Bitcoin price could hit $100,000 as soon as in 2020 based on Elliot Wave Theory, according to Silk Road founder Ross Ulbricht.
“Thus, we have a price and target for the end of wave I of ~$100,000 some time in or near 2020.”
Ulbricht claims that he has several Bitcoin charts sent him to a prison cell on a daily basis.
It takes about a week to put his letters online, which makes them slightly out of date.
However, he states that it doesn’t matter since he only focuses on the coin’s long-term price action.
“The charts we will be looking at show the price of a bitcoin in US dollars over time.”
According to Ulbricht, the overall trend for Bitcoin is still up (despite a severe price correction).
The first cycle is divided into five waves that also feature “intermediate” waves.
The end of the fourth wave market the bottom of the 2014-2015 bear market when the price of Bitcoin plunged to $175 in January 2015 before gearing up for its parabolic rise to the current all-time high (ATH) that was conquered back in December 2017.
Ulbricht further explains that the ATH could mark the end of the third wave while another bear market that started in January 2018 could be the fourth wave.
“If the ~$20,000 peak is the end of wave (3), then the correction pattern we are in (or just came out of) is wave (4), and we can expect wave (5) to take us to new all-time highs.”
However, if the fifth wave is still unfolding, the next bull run could last until February 2021 and could ultimately take the price of Bitcoin to $100,000 as early as in 2020.
In other BTC news today:
Bitcoin’s scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://www.coindesk.com/bitcoin-halving-could-leave-price-at-20k-50k-hedge-fund-manager-says
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BITCOIN (BTC) FUND MANAGER: Crypto Could Soon Rally 4,000% To A Trillion Market Cap
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Bitcoin (BTC) and other top crypto assets are trading far from their all-time highs.
According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%.
Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.
Yet this hasn’t stopped investors from speculating where this nascent market could end up once the next market cycle peaks.
CRYPTO COULD HIT $10 TRILLION AS RETAIL MONEY FLOODS IN
According to Joseph Todaro — managing partner of crypto-centric fund Blocktown Capital — the crypto market’s capitalization could reach over $10 trillion in the next cycle as “retail money really starts flowing back in.”
$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.
“When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top”
In context, $10 trillion is a fair sum of value in the grand scheme of things.
Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.
At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon. $10 trillion is also around 50% of the U.S.’s national GDP in 2019 or around 10-12% of the global GDP.
Importantly, though, just because crypto’s market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.
Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.
The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.
Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.
The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the “call option” on that potential world coming to fruition.
That’s to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.
In other trending Bitcoin News today:
Bombshell Report Shows 36% of Institutional Investors Already Own Crypto Assets Such As Bitcoin and Ethereum
A new survey from the global asset management giant Fidelity shows 36% of institutional investors already own crypto assets.
Four out of five investors who are not yet in the market say they’re interested in holding cryptocurrency in the future and find at least one aspect of the emerging technology appealing.
“Almost 80% of institutional investors find something appealing about digital assets, with the three almost equally compelling characteristics across U.S. and European investors being: uncorrelated to other asset classes (36%); an innovative technology play (34%); and high potential upside (33%).”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top
— Joseph Todaro (@JosephTodaro_) June 10, 2020
Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap
https://cointelegraph.com/news/report-less-than-6-accounts-control-80-of-wealth-on-top-stablecoins
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