Finance News
By Maheen Hernandez
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Big names making it to the cryptocurrency market place only matter if the tokens get used for the intended purpose. Venture capitalists are continuing to step into the market.
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With an increase in speculative interest, the transaction volumes of Bitcoin have increased over 3 months.
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The price of Bitcoin rising in April, marked the third straight month in gains. Everyone is contemplating on what next about the Bitcoin.
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Joe DiPasquale, CEO of cryptocurrency hedge funds at BitBull Capital, stated, "The market continues to be somewhat indecisive as to the direction it should go.
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DiPasquale opines that it is only after the price crosses the $6000 and stays there for a while it will be possible to say that the bull market has started.
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However, other financial analysts focused mainly on positive developments in the market.
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The sentiments have been improving over the past six months. The mentions of Bitcoin and Ether were the highest since January 2019.
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John Todaro, Director of Digital Currency Research at Trade Block, stated that “Notional Trading Volume for the Bitcoin across the largest of US exchanges will reach its highest…
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According to Todaro, previously investors were looking for excuses to sell, and now they are looking for excuses to buy.
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The Tether solvency concerns have been influencing the cryptocurrency market over the past few weeks in a negative way.
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Regardless, investors will have to watch what the Tether situation is doing to the trends. It might become necessary to deal with the solvency concerns by raising capital.
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If, Bitfinex/Tether does not get to accomplish the capital raising due to regulatory restrictions or lack of market appetite; then, there might be greater redemptions.
The Currency Analytics
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