Guru-Investingpresents the top three cryptocurrency news stories from the past day.
Guru-Investingpresents the top three cryptocurrency news stories from the past day.
Bitcoin Bull Michael Saylor Breaks Silence on BTC Price
In a recent X post, Michael Saylor, co-founder of MicroStrategy, has shared knowledge about the future trajectory of the price of Bitcoin, which sparked curiosity among members of the crypto community. His post says: “BTC price remains below $0.06 million,” setting a clear target for Bitcoin value. Saylor’s statement suggests two different perspectives on Bitcoin’s trajectory. First, he offers a short-term target of $60,000 for Bitcoin, the price level that is close to the cryptocurrency’s previous high of $69,000. Second, he hints at a more ambitious long-term goal: a price target of around $1 million per Bitcoin. Regardless of whether Bitcoin reaches $60,000 or aims for higher valuations close to $1 million, Saylor’s point of view can be useful for people trying to seek clarity in their cryptocurrency investment strategy.
Shiba Inu at $0.00001: Here’s what SHIB price needs to finally clear zero
The last two partial weeks have been positive for Shiba Inu, as the value of the meme coin managed to rise from $0.0000088 to $0.0000098, increasing more than 10%. However, it still falls short of the price SHIB enthusiasts want. According to data provided by IntoTheBlock, 16.12 trillion Shiba Inu tokens are what stand between SHIB and the much-discussed $0.00001 threshold. This figure represents the SHIB volume held at 27,850 wallets, all of which were purchased at the desired price but are now experiencing losses. As a result, there is a massive sell-off wall looming over the market as holders of these trillions of tokens wait for an opportunity to offload their holdings. For bullish investors, the challenge lies in having the purchasing power to absorb this considerable volume. A major hurdle that must be overcome to bring SHIB closer to the desired milestone is the upcoming liquidation by holders eager to mitigate losses.
Bitcoin (BTC) Could Hit $700,000 If This Happens, According to Adam Back
Blocksteam CEO Adam Back has recently adopted the X platform to share your opinion on the price of Bitcoin. According to him, the world’s largest cryptocurrency could surpass the $700,000 level if it manages to capture the market capitalization of gold, which is currently valued at approximately $13.5 trillion. Back’s comment follows recent observations that Bitcoin is not only attracting significant investment flows, but is also causing a decline in gold investments. If Bitcoin continues to shift funds away from gold, causing both assets to meet in the middle in terms of value, this could significantly increase the price of Bitcoin. This comes amid growing interest in Bitcoin ETFs, which have quickly overtaken their gold counterparts in terms of investment flows. According to recent data, the cumulative net flows of the top 10 Bitcoin ETFs, including some notable ones like GBTC, have doubled in the last three days, reaching more than $3 billion.
