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When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
Cardano is up over 9 percent in the last 24 hours and nearly 14 percent in the previous week. It is priced at around $2.23.
Speculators in the crypto community continue to describe Brooks move as a stepdown, however, in terms of company size and brand awareness in the crypto space considering his office as CEO of Binance US previously.
“We’ve seen a tremendous amount of inflow of attention, and that’s going to continue to drive the growth of the industry for a while now,” says Abner.
Investors need not worry about these stocks, yielding from just over 3% to nearly 9%, being yield traps.
Stay tuned: Cryptocurrencies are going to play a big role heading into the future.
Metals fund manager laments ‘zero interest in our strategy’ while bitcoin hits new record
Worldcoin project reveals its ‘orb’ scanner as it aims to distribute cryptocurrency to 1bn people
Cook didn't specify which coin he owns, like bitcoin or ethereum, but he said Tuesday that the space is something he's been interested in for a while.
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Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
The sudden spike in selling pressure pushed the flagship cryptocurrency to a low of $62,050, easing nearly 5,000 points in market value. Although prices have bounced back above $63,000 in the last few hours, it remains to be seen whether BTC can hold above support.
Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.