The two leading crypto assets are currently stalled at major resistance levels and seem unable to break through. Bitcoin itself reached $60k per coin twice in the last week, only to quickly correct both times
Fundamental analysis: Great expectations
Bitcoin has been a topic of a lot of positive predictions over the past few weeks, and less than seven days ago, a report by Deutsche Bank openly claimed that Bitcoin was too important to ignore. However, just a few days later, the bank also noted that BTC will remain ‘ultra-volatile’ due to its limited tradability, noting that its illiquidity is an obstacle to greater adoption.
The bank’s report recognised that Bitcoin is now the 3rd-largest currency in the world, with a market cap of around $1.07 trillion. Another big development regarding the coin includes the new Bitcoin IRA program, which is a digital IRA that allows users to buy, sell, or swap cryptos for their retirement accounts. According to a recent press release, the program has seen more than $100 million invested into it, meaning that interest in BTC is continuing to skyrocket.
With interest growing, the popular brokerage app, Robinhood, decided to boost its crypto team and make a huge investment into the field, as its CEO, Vlad Tenev, said in a recent video Q&A.
Another prediction came from CoinGecko’s COO, Bobby Ong. He noted that the coin has the potential to hit $100,000 per coin in 2021, although he also warned that there are dangers ahead, and that BTC risks loom on the horizon.
Lastly, it is also worth noting that the Atlanta-based BTC ATM provider launched more than 100 new machines across the US, installing them in over 24 states. This is one of
