Surging prices, anticipation, and steady coin interest round out today’s headlines.
The Rise and Rise of Bitcoin
There is no slow day in crypto.
The exponential, unidirectional explosion of BTC prices in the last few weeks is a testament. From New Year, the Bitcoin price has cleared major resistance levels, blasting past $30k to over $34.5k on Jan 3.
The rapidity of price gains in the last few days could mean the flow of capital from other “weak” coins or is a signal of a paradigm shift; the movement of funds from Wall Street to crypto, and specifically to Bitcoin. At this pace, analysts project the BTC price to reach over $100k by Dec 2021.
Already, leading analysts, including Antony Pompliano, Thomas Fitzpatrick of Citibank, and analysts at Pantera Capital, expect the BTC price to ease past $110k.
Ethereum Whales Are Accumulating. ETH Prices Rise Above $950
Over the weekend, the Ethereum price temporarily rose above $950 before extending gains to over $1.03k in late New York session.
With news of ETH bulls adding to their longs, whales have been quietly accumulating.
Santiment, in a tweet, said the number of addresses with over 10k ETH ($8 million) has been increasing over the last two months. Conversely, those with less than 10k have been decreasing over the same stretch.
Meanwhile, holders with between one and 100 ETH decreased. The firm explained that this could be because of DeFi, where retailers are shifting between protocols for profits.
Joke Crypto Meme Project, Dogecoin now has a $1.3 Billion Market Cap
Dogecoin is up 130 percent in the last week, driving its market cap to over $1.3 billion.
The coin seems to be benefiting from the influx in capital to crypto as network users take advantage of the network’s high throughput and low transaction fees.
Notably, Elon Musk jokingly identified himself as the CEO of Dogecoin.
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