Why Traders Predict Ethereum at $20K
Market Meditations | January 8, 2021
Allow us to explain what Raoul Pal’s bullish argument is based on. Then, through technical analysis, we will guide you through how to implement it into your trading portfolio.
Dear Meditators
We hope you are all looking forward to the weekend. And by the weekend, I mean a fantastic opportunity to take advantage of the crypto market ?
In that spirit, today we explore Raoul Pal’s bullish statements on Ethereum climbing $20k.
Allow us to explain what his argument is based on. Then, through technical analysis, we will guide you through how to implement them into your trading portfolio.
If you enjoyed this article, remember to hit like and we always look forward to your thoughts and feedback in the comments!
Global Cryptocurrency Market Cap Hits $1 Trillion ?
The market capitalization of all cryptocurrencies combined has reached $1 trillion for the first time ever. During the 2017-2018 bull market, the total market cap topped out at $812 billion dollars which the crypto market has now properly exceeded, according to data from Coingecko. Bitcoin remains the clear market leader with a market cap of over $700 billion, with Ethereum in second place following with $136 billion. Read more.DeFi Integration and Layer-2-Tech Back MATIC 92% Rally ?
MATIC price has rallied by 92% since multiple decentralised applications opted to use the network’s layer 2 solution and traders have looked to DeFi tokens for big returns. Backed by Coinbase Ventures and Binance Launchpad, the project raised $5.6 billion during its initial exchange offering in April 2019. Read more.Ripple ‘Tried’ to Settle With SEC Ahead of XRP Suit, CEO Says ☝️
In a Twitter thread, Ripple CEO Brad Garlinghouse said the company tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December. In the thread, he answered 5 key questions about the pending lawsuit but warned that was limited in what he could say as the case is ongoing. Read more.Bill Miller Invokes Warren Buffett’s ‘Rat Poison’ Criticism of Bitcoin ?
In a new investment letter, fund manager Bill Miller writes that bitcoin’s price performance last year shows promise and if more companies were to move portions of their balance sheets to bitcoin, wider adoption could move very quickly and bitcoin is still early in its adoption cycle. Bill also warned that the market is likely underestimating the risks of inflation. Read more.Could NFTs Become 2021’s Biggest Crypto Trend? ?
NFTs are making a comeback. By September 2020, weekly volumes of transactions had hit the $1 million mark. By December 2020, that number had risen to $2 million. Furthermore, unlike in 2017, when trading volumes were driven out of a single application, transactions are now distributed across a diverse swath of apps and use cases. Read more.
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The Real Reason Traders are Targeting $ETH at $20K
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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. I am not a financial advisor. Every investment and trading move involves risk. Do your own research when making a decision.
