An analysis conducted by the investment company Fundstrat Global Advisors shows that the cryptocurrency market could reach new lows that are even lower than the current position and reach a record point in the longest bear market in history and we are about to find out more what the company’s email meant in today’s altcoin news.
While writing to traders, the company sent out emails with the warning how the altcoins are still vulnerable. Company strategists Robert Sluymer predicted that based on the current performance, Bitcoin and other cryptocurrencies could sink even further. BTC/USD pair has dropped more than 2 percent in the past week as other altcoins see major drops as well. Sluymer said:
“The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.”
Fundstrat is one of the companies known on the crypto market that provides some of the better narratives on the future of Bitcoin but for other cryptocurrencies as well. The popular Fundstrat strategist Tom Lee previously announced that he would no longer make public predictions about the price of Bitcoin back in December 2018.
Tom Lee was quoted saying:
“We are tired of people asking us about target prices.’’
However, he did add that the fair value of the number one cryptocurrency should be worth about $150,000.
Other major proponents have also predicted that the price of bitcoin could reach some incredible sums such as John McAfee who predicted that Bitcoin could reach up to $1 million next year and that the coin is expected to skyrocket this year reaching up to $20,000.
The Great Altcoin Boom May Be Around The Corner
“Rug pull senses tingling. I managed to make it here up in $BTC, up in $USD. Going to keep it that way – tethering ~75% of my $crypto holdings. Playing with the rest. Maybe I get left behind, but I don’t think so.”Despite Bitcoin's increased dominance which now sits at its all-time high of 54.2%, the technical perspectives show that the great altcoin boom on the market is likely to produce a boost - and that the future altcoin news may show us a lot of new capital and confidence from investors. However, this altcoin boom is only possible if Bitcoin sees a strong upside movement and stabilizes above the crucial resistance levels. Currently, the daily spot volume of BTC is at around $580 billion which is still a big up since the first week of March - and a good sign that the great altcoin boom may be around the corner.
Samsung Invests In Ledger: $2.9 Million Confirmed
“In this role I will be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership.”
What's interesting is that today, an anonymous source told the cryptocurrency industry news outlet CoinDesk Korea that Samsung may also end up developing a public-private blockchain along with its own cryptocurrency token. This project, in addition to the news that Samsung invests in Ledger, will be a major undertaking by the company's blockchain division. In the long run, however, it may help Samsung along with a new asset that is now dubbed Samsung Coin.
The website also quoted the source saying “we expect Samsung Coin to come out in the market, but the direction has not yet been decided," and quickly entering the altcoin news section with this viral news.
As other sources reported on April 22, Samsung has apparently delayed the launch of its $2,000 folding phone dubbed Galaxy Fold due to series of breakage issues as reported on the best cryptocurrency news sites. Even though fans were expecting another phone packing a crypto wallet, several reviewers have reported the inside of the screen flickering, freezing and dying on the test phones in the very first days.
Now that Samsung invests in Ledger, the company's focus could shift and we could definitely see an electronics giant in the crypto news sections in the near future.
Binance Singapore Launches With Just One Crypto Trading Pair
“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.”As many best cryptocurrency news sites reported earlier in April, the CEO of Binance Changpeng Zhao (known as CZ) said that Binance was planning to open its Singapore branch at some point this month. However, further details about Binance Singapore were not known at the time. Last September, CZ revealed that the beta testing for this service was about to begin. Meanwhile, the coming altcoin news show that Binance is also getting a lot of investments. One of them was made by Vertex Ventures, which is a subsidiary of Temasek Holdings - and the recent investment company that decided to invest in Binance and fuel its expansion to the country. Right now, Binance is the second largest crypto exchange by trading volume according to data from CoinMarketCap. However, the Singapore branch will definitely help and get the exchange closer to the first spot.
Euro Poll: Cryptocurrencies Will Still Be Around In Ten Years Time
“These results indicate that the reputation of cryptocurrency has moved beyond hype and become more established. It’s very easy to forget just how new cryptocurrencies still are; we’ve only just celebrated bitcoin’s 10th birthday, so for the majority of consumers to believe in crypto’s future is without a doubt an achievement.”The most surprising outcome of the Euro Poll survey is that consumers are losing their confidence in Bitcoin. About 50 percent of the respondents believe that Bitcoin will still exist in the next ten years but about 63 percent don’t share the same opinion. This could be a result of the negative press including the reports on exchange hacks and investment losses. Of course, the number one cryptocurrency is always to one to be hit the hardest. The Euro Poll confirms that cryptocurrencies are here to stay in the next ten years. One crypto hedge fund founder wants to bet his house on it. Also, as previously reported in our altcoin news, Anthony Pompliano is willing to stake $1 million bet that crypto will outperform the S&P 500.
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