Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Americans will spend social benefits on investing in bitcoin, Ton Weiss is waiting for a rate of $70,000
Americans will spend 10% of payments from the state to buy bitcoin and shares. An analysis of the Mizuho Securities survey showed that some of the funds that will be transferred to US citizens during quarantine, they can use as investments in BTC and stocks. The Mizuho team surveyed 235 participants with a total family income of up to $150,000 per year. Most of the respondents claim that they are waiting for payments to be credited to their personal accounts in the near future. Most of those who receive help plan to invest part of the money in investing, they see bitcoin as the most attractive asset for this. According to the managing director of the company, Dan Dolev, bitcoin will account for 60% of investments, which could add 2-3% to the current market capitalization of the first cryptocurrency, which now stands at $1.1 trillion.
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Kiyosaki urged to buy bitcoin against the backdrop of another launch of the printing press. The author of the popular book Rich Dad Poor Dad advises buying bitcoin and traditional gold and silver during the current state action to help the US economy by $1.9 trillion. Robert Kiyosaki believes that “helicopter money” deprives the middle class and the poor of income. Kiyosaki was not mistaken with his forecasts in mid-December 2020.Then he was talking about a new maximum of $ 50 thousand. Robert himself invested in an asset with a price below $ 20 thousand and explained the possibility of increasing the value due to the arrival of big institutional players.
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Tone Weiss: Bitcoin will renew the maximum, but then the asset will face a significant correction. The rate of the cryptocurrency will rise, hit an all-time high and then fall significantly, trader Ton Weiss said. Based on the words of Weiss, the MRI indicator indicates the completion of a short-term correction in bitcoin. Weiss spoke of Bitcoin rising above $70,000 in the coming weeks. After that, investors will consolidate income, which will lead to a massive drop in the price of the asset, he added. Recall that at the end of last year, Weiss predicted the growth of the bitcoin rate to $300,000 in 2021, and he considered the forecast to $100,000 soon to be “overly conservative.”
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Messari analysts believe that Ethereum can overtake Bitcoin in terms of capitalization after switching to the Proof-of-Stake transition protocol. In their opinion, bitcoin now looks more attractive in comparison with Ethereum as a means of savings. Its policy is predictable, blockchain is one of the safest, but the second most popular cryptocurrency can surpass bitcoin after switching to the second version. In addition, a huge number of De-Fi applications have been built on the Ethereum blockchain, this sector is actively developing and will attract more users than bitcoin. Earlier, experts predicted the arrival of institutional investors in Ethereum after the launch of futures on the Chicago Mercantile Exchange.
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One of the largest US banks, Morgan Stanley, will be the first to give customers access to bitcoin funds. Only accredited investors with an investment of at least $2 million can become candidates. For large companies, the barrier will be at least $5 million and an account created no later than 6 months ago. CNBC informs that customers will most likely not be able to buy parts in the funds until April after the completion of training by the bank’s consultants. Morgan Stanley also announced its intention to acquire shares in the South Korean cryptocurrency exchange Bithumb, the deal is tentatively estimated at $265-$440 million.
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Cryptocurrency analyst Willy Wu calculated that every day up to 35,000 new users create personal accounts on different blockchains, and on exchanges this number has exceeded 100,000. Note that the growth of the cryptocurrency market has begun to interest not only retail investors. The volume of institutional capital in the industry also continued to grow, from about $37 billion to $55 billion. Grayscale Investments holds the primacy in capital management of institutional investors.
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The Visa payment company has built a development strategy taking into account cryptocurrency technologies. The company set a goal to use new opportunities and methods of money transfers. According to the payment giant, there are two key tasks that need to be completed: the ability to buy bitcoin through payment system accounts and work with bitcoin wallets to pay in cryptocurrency at any Visa acceptance point. The company assumes that cryptocurrencies can become widespread in five years, if interest in them does not subside. This week, Visa announced a partnership with cryptocurrency company Crypto.com.
