From new analysis on Bitcoin’s revival to new adoption at IOTA, here’s a look at some of the stories breaking in the world of crypto.
The chief analyst at ThinkMarkets says the Bitcoin beast has been unleashed.
In a new piece at Forbes, Naeem Aslam says the relatively low number of people searching for the word “Bitcoin” on Google shows institutional investors are playing a key role in the crypto king’s resurgence.
“This confirms that the surge in the Bitcoin price is mainly due to the institutional participation. One can only imagine where the price will move when retail investors jump back in this space with full enthusiasm.”
According to Aslam, Bitcoin’s renewed volatility and volume show crypto investors didn’t lose interest in Bitcoin, but instead sat on the sidelines waiting for the next rally to emerge.
“In terms of volatility, the beast is unleashed once again. Back in October 2018, Bitcoin’s 10-day volatility was lower than the S&P 500 index and the Nasdaq. It did drop below the S&P 500’s 10-day volatility in March 2019 again, but since then, it has been increasing.
To conclude, I do think the next rally is going to be a lot stronger than the previous. One can call it a bubble, but this time the Bitcoin price range could very well be between $60,000 to $100,000.”
The latest edition of EthHub Weekly is out, covering all things Ethereum.
This week’s post looks at new developments on Cloudflare’s new Ethereum Gateway, MyEtherWallet, Dharma and more.
Ripple and XRP
The founder of the Ripple-backed startup XRPL Labs says people can now send up to 500 XRP through the popular XRP Tip Bot.