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This could happen to cryptocurrencies and Altcoins

Updated: Mar 28

This could happen to cryptocurrencies and Altcoins

After Bitcoin rose above the 60,000 dollar mark again last weekend, there are increasing signs of the next market on the way to the mark of $ 100,000. The upcoming stage is likely to be in a range between $ 70,000 and $ 80,000. Since the $ 100,000 then comes into view, an effect known from the market is likely to occur: The market wants to see the brand fall, which is why it then falls. The probability that this will be the case now at the beginning of summer or maybe even before that has recently increased significantly.

There Are Still Enough Arguments

The IPO of the Coinbase crypto on Wednesday could remind even more stock investors that ignoring the crypto market is a mistake. A major driver of the past few months, the purchases by investors, will continue to intensify the scarcity in Bitcoin in the future. In addition, Bitcoin adoption continues to advance. The boom was also driven by the start of crypto trading for customers since November. Now there is a new function, through which PayPal customers around the world can pay with cryptocurrency. The next boost should come when PayPal unlocks crypto trading after customers for everyone worldwide. The hurdles for entry into the crypto world are getting smaller and smaller for the common man.

At the same time, long-term Bitcoin investors continue to dominate. According to a study recently published, three-quarters of all bitcoin has not been moved since it was priced at $ 10,500. This price level was last seen six months ago. This shows that most investors are unwaveringly sticking to their positions, even though prices have more than quintupled since then. It will be interesting to see whether these investors will stick with this even at prices in excess of $ 100,000. In any case, the sales incentives should then increase.

Altcoins Continue To Perform Better

The market of the entire crypto market has passed the $ 2.0 trillion mark. That sounds like a lot, but it is put into perspective when you consider the largest stocks. This would mean that altcoins would continue to outperform until the end of the year. Sometimes there were huge leaps in the course again. The coins from Asian plans are also still strong in the market.

The contents of this article are for informational purposes only and are not investment advice.

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