Bitcoin was literally a few dollars short of a new high yesterday. Today we see a slight correction, but it is too early to say that it will be deep. On the contrary, we will try to set the price maximum again in the near future.
But then there will be a really important test in the form of $ 60,000. We are now in that stage of the market when at the top of Bitcoin there is practically no resistance and all price levels are just psychological marks.
This is all very reminiscent of 2017, when it seemed there was nowhere to grow further, but no, the price takes and rises higher again. Of course, we need some kind of strong bullish news for fast growth, but the market has not offered anything like that yet. We are still seeing the outflow of the first cryptocurrency from the exchanges, and we are making plans for how the Americans will run to buy Bitcoin after they receive new checks for $ 1,400 from Joseph Biden. The new stimulus package has already been finally voted and signed.
But what continues to amaze is the large negative premium for buying Bitcoin through the Grayscale fund. This is believed to be an incredibly bullish signal that was in 2017 and 2020. His first confirmation will be taking $ 60,000, which may actually happen this weekend.
Ethereum price rose above $ 2,000, but then the growth was abruptly interrupted by the Bitcoin correction. In light of the fact that Bitcoin is on the rise again, it is logical to expect Ethereum to return to this price and continue to grow. Can these plans be thwarted by miners and developers who cannot agree?
The situation due to the update, which implies the burning of part of the fees, looks somewhat strange. First, we kind of have to move hard towards Ethereum 2.0. Secondly, Vitalik Buterin promises that very soon the problem with high commission fees will be solved due to the second-level protocols. And therefore, it is not at all clear why take away part of their income from miners today, if in the near future they will have to look for a new job.
It turns out that the Ethereum community decided to arrange problems for itself out of the blue. But we are not yet worried about the fact that this event can somehow affect the cost. In addition, there is still a lot of time before April 1, during which they can have time to agree.
When new Cardano update released, the price got rolled back and left the TOP-3 cryptocurrencies in terms of market capitalization. At the moment, the Cardano blockchain has transactions, staking, and the ability to create custom tokens. But so far all this is not enough to say about the completion of development. We need another critical component in the form of smart contracts.
We are sure that at least a preliminary announcement of such an update will be able to change the trend in Cardano and return the price to the current maximum of $ 1.45, after which it will storm the next height of $ 2. But until then, the price will follow the market, or rather, Bitcoin. If he successfully overcomes $ 60,000, we can see the price of $ 1.5 very quickly on Cardano. And if Bitcoin needs another correction and the rate drops to the conditional $ 50,000, then all Cardano holders will have to clench their teeth and endure a drop to $ 0.9, and maybe to $ 0.8.
Many have hopes for XRP, especially after their public statements about how insolvent the SEC lawsuit is. To the public, this all sounds beautiful, but the guys from the SEC do not agree with this and are not going to discontinue the proceedings yet. Earlier, they have already supplemented their complaint, in which Chris Larsen and Brad Garlinghouse were accused of personal manipulation of the XRP price, on which they earned about $ 600 million. Ripple also completely denied this accusation, but the SEC did not surrender. At first, their lawyer called Ripple’s line of defense insolvent. He believes that they do not provide evidence of innocence, but are simply looking for loopholes in legal norms to avoid liability.
Now SEC has gone even further and requested from six banks at once the financial data of Chris Larsen and Brad Garlinghouse over the past 8 years. The co-founders of Ripple are seriously unhappy with this behavior of the regulator and have already sent a complaint to the court, according to which the SEC has no right to request all financial data at all. They only agree to partial disclosures if transactions are related to XRP.
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Crypto News: Bitcoin Surges To $ 60,000, SEC To Clap Ripple’s Head, Ethereum Miners Strike, Cardano For $ 2