Yesterday was again not an exciting day for bitcoin (BTC). Nevertheless, a number of interesting messages have come out about the number 1 cryptocurrency in the world. The most interesting piece of news was that Goldman Sachs, a prestigious American investment bank, for the first time executed a bitcoin futures transaction in Asia. It shows that these types of large banks are increasingly open to crypto and are now even trading in it.
This is what happened to the bitcoin price while you were sleeping
Bitcoin is up 1.7% in the past 24 hours, but has fallen 0.6% since midnight. The BTC price at the time of writing is $20,400 on crypto exchange FTX† The euro price of bitcoin is €19,880 on the Dutch exchange bitvavo† However, the trading volume fell by 20% in the past 24 hours.
Bitcoin’s total market cap is $389 billion at the time of writing. Bitcoin dominance currently stands at 42.4%.
When will bitcoin reach new ATH?
Kaleo, a well-known analyst on Twitter, has shared his vision for the bitcoin price in the coming years. The analyst expects bitcoin to bottom around $16,000 and then hover between this price and $30,000 for the rest of the year. After that, the bitcoin price can finally break out.
#Bitcoin † $BTC roadmap to new ATH. pic.twitter.com/cx8iS39euk
— KALEO (@CryptoKaleo) July 6, 2022
According to the analyst, this breakout will bring a lot of hype into the market and as a result, the price will make a big upward move. However, that will not lead to a new one all time high lead, says the analyst, who expects the price to top around $50,000.
Over the next 18 months, the price will mainly move sideways and will also gain several altcoins and sectors, such as the non-fungible token (NFT) sector, again more attention.
Kaleo emphasizes here how important the bitcoin halving is for the course. He expects that bitcoin will only really rise sharply after the next halving in 2024. Bitcoin could then hit a new ATH and even top $100,000 by late 2024 or early 2025. Bitcoins also skyrocketed several months after each previous halving.
Kaleo also expects that by 2025 and 2026 the NFT sector will also rise in a way that we have not seen before. Whether Kaleo is right, however, we will have to wait a few more years to find out. In any case, we will keep a close eye on developments.
Premium crypto analysis of the day: XRP
The Crypto Insiders analysts recently discussed in the Discord environment shared a new analysis of ripple (XRP). This shows that XRP could potentially be risky for the bulls† The price appears to be making an Elliott Wave 12345 pattern, where we are currently completing the downward fifth wave. This could eventually lead to a downward breakout.
The full analysis of the XRP price can be read in our Discord environment. You can also get in touch directly with experienced traders who are ready to answer all your questions.
Trade with Crypto Insiders on Discord
Are you looking for help with crypto trading? Then we would like to refer you to our Discord group for members. Here, experienced analysts and traders discuss their analysis and trading plans on a daily basis. We are also the first to share our technical and fundamental analyses. In our Discord community we can share knowledge with each other 24/7 and we try to stay ahead of the market together with our premium members.
Also, our lead analyst, known as AppY, recently held a ask me anything (AMA) session for our premium members. This is now available for everyone to see and is full of very interesting technical analyses!
https://www.youtube.com/watch?v=ekfmWBoTE5c
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.
