JPMorgan’s strategists were quick to identify the fact that Tesla’s entrance into the crypto space was a major positive factor for the industry.
By adding a crypto wallet and exchange capabilities, Apple could attract a huge customer base due to its up to standard security system.
Bitcoin surge is Tesla-fueled according to some analysts as the price of the digital coin started to rise just minutes after Tesla broke the news.
The altcoin market is buzzing with strong investor interest as well as the rally in the DeFi space. Cardano and Polkadot have registered strong moves surpassing Ripple’s XRP.
Stating that competition among crypto exchanges “is light,” the analysts suggested that Apple may be the solution to challenges in the crypto space.
Wall Street’s rally has resulted mostly from investors’ bet on a new fiscal relief package and a global vaccine roll-out that could lead to a faster economic recovery.
Once Tesla accepts Bitcoin as a form of payment, it is expected to increase the demand for BTC to new heights that affects the market price directly.
ETH gathers steam as the CME Ether Futures go live today. While the institutional action around ETH price movement has been positive, market analysts give mixed opinions on how the CME Ether Futures can affect the ETH price movement.
It now remains unclear what company Apple will seek as its next partner on the Apple Car.
Cryptocurrency trader Scott Melker stated that technical analysis supports the prediction that Bitcoin may soon surge to $63,000.
As investors await the launch of Ether futures contracts from the Chicago Mercantile Exchange in the coming week, ETH continues to pull in constant gains.
Kuaishou managed to raise $5.32 billion equivalent to 41.28 billion Hong Kong dollars in its Initial Public Offering (IPO).
As the Reddit-fueled frenzy slows down, investor confidence in the broader market seems to be restored again thanks to the tech giants like Amazon and Alphabet whose earnings report suggests phenomenal growth during Q4 2020.
Although the price of Ethereum is slightly down from its all-time high at the time of writing, it is a long way up from its lowest price point of $0.4209 attained back in October 2015.
The open interest in Ether Futures has spiked by 50% while the Ethereum buy call options have also shot up significantly. More importantly, institution buying has resumed in Ethereum with its improving on-chain fundamentals.