| Broader Market Still Indecisive As BTC Consolidates If you cannot see the email below, please click here to see the web version. Dear FreeBitco.in User, You are receiving this email because you are an active user at FreeBitco.in. Your User ID 4327909 was last active on 2021-05-27.  LAST WEEK IN CRYPTO Hello FreeBitco.in Users! Even as Bitcoin consolidated last week, experts and analysts stayed bullish on the king of crypto. Meanwhile, the biggest Bitcoin event in history kicked off! Let's take a look at what happened Last Week in Crypto: ➤ Hyperbitcoinization A Decade Away, Say BTC Bulls Mass Adoption Only a Decade Away As Analysts Predict 2021 High for BTC BTC | BITCOIN $36553.27 -1.71%  On 4th June, an esteemed panel at the Bitcoin 2021 conference in Miami gave an optimistic deadline for the mass adoption of Bitcoin, saying it'll take ''at least a decade.'' "I think that based on how Bitcoin has been adopted historically and based on the trillions of dollars that the Fed is going to have to print in the coming months to years, that it would potentially be conservative to say that Bitcoin's a unit of account in 10 years,'' said Parker Lewis, head of business development at Unchained Capital. Dan Held, Director of Growth at Kraken, said, ''If we do have an event where there's a rapid devaluation of fiat currency, Bitcoin starts to surge or gets close to $1 million per Bitcoin - a supercycle-esque moment then we could see it much sooner, maybe five to six years or so.'' Meanwhile, another historically accurate indicator is in favor of BTC reaching a new high this year. Philip Swift, the creator of the Pi Cycle Top indicator shown above, has stated that Bitcoin could rally to a major level in 2021. The Pi Cycle Top indicator uses two MAs - 111-day and 350-day multiplied by 2 - and the current market condition seems to be setting up a crossover between the two averages, a sign of bullishness. ''This is setting up another cross, and therefore potential high, in the coming months once price starts trending back up...which I believe it will,'' concluded Swift. Bloomberg Intelligence said in a report that Bitcoin is more likely to rally to a $100,000 resistance than go below $20,000 and stay there for a sustained period. FUN Token Touches Two-Week High As Anticipation Over Casino Builds FUN | FUN Token $0.021937 +0.41%  On June 2nd, FUN Token rallied by 20% to reach a two-week high of $0.026. After 3 days of consolidating in a tight range, FUN Token made some ground as anticipation over an upcoming decentralized casino builds. Recently, FUN Token announced a decentralized casino on the Ethereum mainnet for FUN users. It is part of a roadmap introduced by FUN Token; a plan that outlines their vision for the token over the next year. Take a look at the roadmap here. Traders Ambiguous on ETH, DOT Attracts Major Funding, DOGE Gets Listed on Coinbase ETH | Ethereum $2,649.28 +0.79% DOT | Polkadot $24.02 -2.32% DOGE | Dogecoin $0.373791 +3.70%  ETH options data for the month of June seemingly shows that traders have mixed feelings about the coin's future. There are currently 623,800 Ether option contracts expiring on June 25, totaling a $1.75 billion open interest. Out of those, about 170,000 contracts are put (bearish) contracts that target a price of $1,600 or lower. Meanwhile, bulls haven't held back, buying around 160,000 call (bullish) options with overly optimistic targets of $3,800 and above. The overall sentiment is mixed. ''Don't need to catch exact bottoms or sell exact tops to make money,'' said Koroush AK, an independent analyst. DOT Attracts Major Funding, Rallies by 50% Last week, DOT rallied by almost 50% as Asian blockchain incubator and venture capitalist Master Ventures announced a $30 million fund that would support projects seeking Parachain slots on the Polkadot Relay Network. This news was a trigger as DOT made its way to $28.66 for the first time in 2 weeks. DOGE Climbs 40% As Coinbase Lists the Memecoin Last week, Coinbase Pro introduced DOGE trading on the platform, a move that saw the coin rally by 40% on 3rd June. The transaction value across the blockchain exceeded $47 billion, a 690% increase on the figure from the previous week. On the same day, DOGE/USD also became the fourth most traded pair on Coinbase. Crypto News Weekly Roundup Bitcoin 2021 Kicks Off in Miami  On 4th June, the biggest Bitcoin event in history kicked off in Miami. Organizers expect over 50,000 people to attend the event, a number unprecedented in COVID times. Notaries to feature at the event include the mayor of Miami Francis Suarez himself, Morgan Creek co-founder Anthony Pompliano, Microstrategy CEO Michael Saylor, the Winklevoss brothers, Twitter CEO Jack Dorsey, and more. Former and current government officials and regulators are also set to attend the event. Google Lifts Ban on Ads From Crypto Exchanges and Wallets  On 2nd June, Google lifted a three-year-old ban that prohibited crypto exchanges and wallet companies from posting ads on their platform. ''Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google,'' read an update on their support page. The requirements are strict but we could see exchanges and wallets reach out to a wider audience, further promoting adoption. STAY TUNED FOR THE LATEST NEWS EVERY WEEK Keep an eye on your inbox for your weekly dose of cryptocurrency news, updates, trends, analysis, and more. 
Get Latest News
This email was sent to unilesstari.blog01@blogger.com because you have registered an account at FreeBitco.in. To unsubscribe from future promotional notification emails, please opt-out here. |
Could BTC Reach $100,000 in 2021?
Advertisement
