Analytics company Santiment reports that cryptocurrency sentiment has fallen to near-record low levels for 2021 — even as some experts are doubling down on a $400,000 Bitcoin (BTC) price target. Sentiment nosedived following Bitcoin’s drop below $60,000 to its current price of $56,300 and Ether’s (ETH) dip under $2,000 this week, according to Santiment. Ether is currently trading at $1,998. The crowd mood toward #Bitcoin and #Ethereum appears to have dropped to extreme negative territory after $BTC fell back under $60k & $ETH dipped back under $2k this week. Historically, buying during this level of #FUD & fear is a …
Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. “I don't see what [could] make it stop doing what [it’s] been doing for the last 10 years. And that's going up”, he told Cointelegraph in a recent interview. McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it a better store of value than gold, the total amount of which is unknown. Given the fixed supply, Bitcoin is going to appreciate as demand for it increases. McGlone points at the …
Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Forget $10,000, Bitcoin’s $12,000 breakout will catch everyone off guard Once again this week, BTC suddenly soared into five figures — hitting $10,380 soon after Donald Trump mobilized police and the National Guard to disperse protests outside the White House. The surge helped break a long-term descending trendline of $10,250 that had been in place …
A report from Bloomberg that provides a crypto market outlook for June says that it expects Tether (USDT) to surpass Ethereum (ETH) in market capitalization. The report notes the growth of Tether’s market capitalization as one of the main drivers for the appreciation of Bitcoin (BTC): “Interest in digital links to the dollar represents the need to transact and store value in the world’s reserve currency without an intermediary.” Ether live in Bitcoin’s shadow Recently, the stablecoin has overtaken XRP (XRP) at the number three cryptocurrency by market cap. Bloomberg asserts that it will not stop there but will march …
Despite cryptocurrency markets dropping to multi-month lows, major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are likely to hit new all-time highs in 2022, according to a Bloomberg analyst. BTC and ETH will be heading toward $100,000 and $5,000 this year, respectively, Bloomberg Intelligence analyst Mike McGlone forecasted in his latest market analysis published on Thursday. “A key issue we see is the Federal Reserve, as it faces the greatest inflation in four decades, more inclined to raise interest rates if risk assets continue climbing,” McGlone noted. McGlone also predicted that BTC, Ether and the United States-pegged stablecoins will maintain …