Analyst on why Bitcoin and crypto may be in the midst of a “mini bear market”BTC $35,712 (-0.5%) • ETH $1218 (-1.5%) • DOT $16.76 (-0.2%)
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If you look at Twitter, it may appear that the crypto market is anything but bearish. Friday and Saturday were marked by extremely strong rallies in the prices of altcoins, despite consolidation in the two leading cryptocurrencies. Many small caps, medium caps, and even large-cap altcoins enjoyed gains of 10-50 percent yesterday, resulting in a sharp decline in the Bitcoin dominance to 65 percent as of this article’s writing. Earlier this week, the metric was as high as 68.5 percent. But this price action hasn’t convinced all analysts that Bitcoin, Ethereum, and the rest of the market are ready to move higher. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins More news ⏬How Polkadot project StaFi brings liquidity to staked assets like DOT and ETH2Massive amounts of capital are locked in staked crypto assets. This company is bringing DeFi to 140 million users thanks to a $50 million round of venture capitalAlameda Research, the company behind the FTX exchange, has led a funding round that raised $50 million to create a DeFi ecosystem on Maps.me, an offline mapping application. Former Canadian PM says Bitcoin can be one of the world’s reserve currenciesStephen Harper sees Bitcoin alongside gold and the US dollar as a viable global reserve asset. Analysts explain why Bitcoin is primed for a rally back to $40k and higherThe price of Bitcoin is hovering under $37,000 after the correction from $40,000 in the past 72 hours. Yearn.finance (YFI) surges 10% on v2 vault teaserYFI soared 10% within an hour after a V2 vaults teaser was uploaded by the Yearn.finance Twitter handle. Curve (CRV) erupts 50% higher in a day amid renewed DeFi interestThe majority of decentralized finance (DeFi) coins have seen extremely strong rallies since the start of 2021. Here’s why these 10 crypto personalities say Bitcoin is the BEST money
The debate on Bitcoin being money or not rages on. The world’s original, and current biggest, cryptocurrency was initially founded in 2009 by its pseudonymous creator Satoshi Nakamoto to replace fiat money, but price gyrations have since made it an asset class akin to “digital” gold. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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