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Bitcoin hits $40K after a 6-week absence, but on-chain activity is somewhat bearish
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El precio de Bitcoin este jueves 1 de julio de 2021
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Michaël van de Poppe Mentions Three Cryptos That May Restart Alt Season As Mark Cuban Buys More
Reading Time: 3 mins read
Michaal van de Poppe, a top crypto analyst, has offered his thoughts on the prospect of a new altseason, highlighting three cryptos that appear to be primed for new breakouts.
In a new video, Van de Poppe tells his 103,000 subscribers that despite the harsh late-May correction that saw Bitcoin tumble to $30,000, an altseason may be in the cards in the coming weeks.
The whole altcoin market cap is still above the 21-day weekly moving average (21 WMA), indicating that the cryptocurrency bull run is likely not done yet.
XRP, the seventh most valuable crypto asset by market value, is currently enjoying high pressure amid recent pullbacks seen in the price of the flagship crypto asset.
At the time of writing, XRP was trading at $0.70847 up 20.25% for the day. It was the biggest one-day percentage gain since about 9 weeks ago.
The move upwards pushed the crypto market value to about $32 billion or 1.67% of the total crypto market value. At its highest, XRP’s market value was pegged at $31.5 billion.
XRP had traded in a range of $0.61963 to $0.70849 in the previous twenty-four hours.
For the week, the crypto asset has seen an exponential gain of 26.69%. The volume of XRP traded for the day at the time of writing stood around $7. 4 billion or 4.92% of the total volume of all crypto assets. XRP traded in a range of $0.5309 to $0.7085 for the week.
3/1/2021 1:43:33 PM GMT
Bitcoin (BTC) is looking stable at the start of a new week after recovering from a drop to $43,000 what’s in store?
After last week’s 20% drop from all-time highs, opinions are divided over what the future might look like for Bitcoin price action in the short term. Macro factors are encouraging, but naysayers insist that a major crash is still a distinct possibility.
Cointelegraph highlights five factors which could be set to influence BTC/USD in the coming days.
Fresh stimulus, fresh buy-ins?
Macro is looking to deliver a perfect storm for alternative assets, led by the United States. President Joe Biden’s $1.9 trillion stimulus package has passed lawmakers, who gave the green light for yet another unfathomably large money printing exercise to begin.
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