There have been many major announcements involving Ethereum and Coinbase cards giving you the option to get crypto rebates by Apple Pay and Google Pay; this is a massive step towards mass adoption.
Today is another regular day in the crypto space, Bitcoin is currently at thirty-seven thousand dollars, and Ethereum is above 2,600 dollars.
Cardano is climbing steadily as it is up by four percent at a dollar and seventy-seven cents. Cardano is one cryptocurrency on which most financial advisors and analysts are most bullish because they believe it has the highest return on investment for 2021. It is one project in the top ten with the highest long-term potential.
From the look of things, we seem to currently be in a cool-off phase where the crypto space will be going sideways for a few weeks unless we get major news about a prominent institution acquiring huge amounts of Bitcoin.
Bitcoin may test the thirty thousand mark again, it will be a good opportunity to purchase, and there is major support at that mark. But the crypto market will be in this accumulation phase for a while.
It is only very bad news, which no one expects can cause Bitcoin to drop within the lower twenty thousand dollar range; the fact remains that no one can predict the news, and it is the news that will determine the level of FOMO or panic.
A major network update is coming up for Ethereum; the Ethereum London Hard Fork is scheduled to launch in July. It will make Ethereum deflationary; coins will be burned from every transaction, and for the first time, Ethereum will be deflationary rather than inflationary.
Ethereum becoming deflationary and reducing the gas fees with the London Hard Fork will be a massive upgrade for Ethereum, and demand will be picking up. It seems like many people have been accumulating Ethereum, which explains why it has been holding up so well despite the market crash.
Ethereum flipping Bitcoin may not happen unless this new update is launched as scheduled.
Several catalysts indicate that Ethereum could maintain its monthly bullish outlook despite the recent price correction. The indicators are; the Hard Fork update, decreasing Ether on exchanges, and the technical structure breakout.
On the other hand, white-listed Coinbase card users will be able to use crypto to pay on Apple Pay and Google Pay while earning up to four percent in rebates. Companies are currently launching crypto credit and debit cards where you get crypto rewards; BlockFi just launched one of these cards where you get about two percent back in Bitcoin, deposited directly into your BlockFi account.
This is a big deal and a huge step towards mass cryptocurrency adoption; last week, Apple announced that they were looking to hire people with cryptocurrency experience.
There have been several announcements of major companies buying and investing in cryptocurrency and using cryptocurrency for various services; they promote mass adoption and will be good for the crypto space.
