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The founder of investment firm SkyBridge Capital remains bullish on Bitcoin, despite the former cryptocurrency trading well below its all-time high reached in 2021.
Analysts at K33 Research linked the fall in Bitcoin futures trading volumes to the cryptocurrency market’s reaction to the fall in BTC spot trading volumes on the largest crypto exchange Binance.
Brevan Howard Digital, director of venture capital investment, said that the payment options of the USDT and USDC stablecoins will attract more users to the world of cryptocurrencies.
Fundstrat co-founder Tom Lee has increased his forecast for the bitcoin rate. Earlier, he said that with the approval of a spot ETF for bitcoin, the rate would rise to $150,000, but now we are talking about $185,000.
Jamie Coutts believes that despite the lack of clear regulations for stable cryptocurrencies in the US, they are in for a real boom. The analyst recalled that already in 2022, there was a significant growth in the stablecoin market: the total volume of payments in the first-level blockchains reached almost $6.9 trillion. However, since the beginning of 2023, this figure has decreased by 80%.
Bitcoin extended its decline beneath $30,000 on Monday as the total crypto market value dipped by 2% to just over $1.2 trillion.
Employees of the blockchain data provider Santiment predict the imminent completion of the flat in the Ethereum (ETH) market.
A significant drop in the level of volatility of the Ethereum exchange rate reduced the interest of traders in the coin, and the number of publications about ETH decreased to a minimum. However, Santiment analysts do not see this as a problem and argue that altcoins often win when they are in the shadow of a bright competitor, which can now be called XRP.
The CEO of Real Vision, a former top manager of Goldman Sachs, suggested that in the near future, Bitcoin will show a bullish rally, and the main altcoins will follow.
Payments-focused cryptocurrency XRP has surpassed BNB token to become the world's four-largest digital asset by market cap.
As of writing, XRP boasted a market cap of $41.44 billion, with the tally surging 66% in the past 24 hours alone, according to CoinDesk data. While BNB's market value rose 6.5% to $40.57 billion. XRP's price surged from 47 cents to nearly 78 cents.