Read top crypto market events on Bitcoin, Ethereum, Ripple, and Altcoins.
Bitcoin News
Binance's CEO, Catherine Coley, said that the recent bull run of bitcoin is an indication that it could get as high as $100,000. She pointed out that in less than a month, the price had moved from $19,000 to over $34,000, which could increase the number of institutional investors taking an interest in the crypto asset. She said, "I think we're going towards $75,000 to $100,000 for Bitcoin by the end of 2021." Major Crypto exchanges Kraken's growth lead, Dan Held, also has similar views. He said via a video on his YouTube channel that Bitcoin's price would grow substantially, even by over a "100x increase" based on the increasing adoption of the crypto asset.
Ethereum News
Ethereum saw a quick increase in price after Paypal listed it as one of it's few supported projects. Since then, it has retained an upward trajectory, passing the $100 mark and continuing above $120. It is currently trading at almost $160, and analysts project even more gains.
Just in the space of ten days, Ethereum has surged past other altcoins (except Bitcoin) to gain by over 100%. It held the $1,000 price level for some time but broke through the $1100 level just hours ago. In the past 24 hours alone, it has gained more than 36%.
The trend is expected to continue if bitcoin maintains its position in the $32,000 - $34,000 level. This price surge is attributed to the profits from Bitcoins bull run being distributed to the other altcoins.
The cryptocurrency is expected to move higher as more investments are made in the future. Managing partner of Blockhead Capital, Matt Kaye, noted that institutions are starting to notice Ethereum while trends surrounding DeFi will also drive demand for the coin. He also said that the reopening of Grayscale's Ethereum Trust would bring in the rush of demand.
Litecoin News
Litecoin has knocked out ripple to become the third most valuable bitcoin. On Sunday, January 3rd, it had a market capitalization of $10 billion, coming in 3rd place after Ethereum with $94 billion (2nd place) and Bitcoin in 1st place with $630 billion. Although, if Tether (USDT) is added, it will move to fourth place. However, Tether is a privately held cryptocurrency.
In other news, giant crypto exchange Coinbase is also being sued by the SEC for its role in selling XRP, which it claims is unregistered security.
In conclusion, Bitcoin's breaking past 30,000 has already caught the eyes of many people across the world. People are taking it more seriously as an investment asset. Now would be the ideal time to invest in altcoins like Litecoin.
