Crypto VC says Bitcoin must consolidate if it is to hit $100,000 in the near futureBTC $41,165 (+5.2%) • ETH $1220 (-3.3%) • LTC $173 (-1.1%)
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Bitcoin, Ethereum, and other cryptocurrencies have undergone remarkably strong rallies over recent days and weeks. In the past seven days alone, BTC gained 30 percent against the U.S. dollar while ETH gained 60.6 percent. Bitcoin is expected to continue its ascent as long as the U.S. dollar continues to drop and as institutional capital cycles from gold and other asset classes into BTC. However, a leading venture capitalist in the crypto space has argued that the market is getting overbought and is ripe to consolidate or correct in the near term. This consolidation or even correction will be healthy for the long-term trajectory of this bull market, he explains. 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 ⏬Maker (MKR) rips 80% higher over past week after extended bear market against EthereumWhile MakerDAO, the decentralized loan platform, is at the core of decentralized finance, its native Maker (MKR) token has plunged against Ethereum over recent months. Brad Garlinghouse answers tough questions on Ripple (XRP) lawsuitThe Ripple co-founder allegedly pocketed hundreds of millions from illegal XRP sales, among other allegations. Billionaire investor Chamath maintains the view that Bitcoin price will pass $100,000Bitcoin has undergone a remarkable rally over recent weeks. This “ElectroRAT” malware might be silently draining your BitcoinA ransomware has affected users of over three apps in the past year and drained their wallets of hundreds of Bitcoin. Comparing the technicals of Polkadot (DOT), Cosmos (ATOM), and Avalanche (AVAX)Polkadot, Cosmos, and Avalanche have all been created to solve the same set of problems—the low latency and scalability issues plaguing Ethereum. Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”Mohamed A. Big gains for Stellar (XLM) as multiple banking settlement rumors proliferateThe price of Stellar XLM soared to as high as $0.39 on January 6. Crypto is here: Total market cap hits $1 trillion for the first time everAs per CoinMarketCap data, the cryptocurrency market has officially passed the magical $1 trillion milestone. Shyft Network’s Joseph Weinberg on the meaning of Bitcoin (and DEXs for 8 billion people)
The DeFi market has boomed in 2020, attracting billions of dollars across use cases like lending, derivatives, decentralized exchanges, and others. 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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Crypto VC says Bitcoin must consolidate if it is to hit $100,000 in the near future