Bitcoin, Ethereum, Dogecoin Mixed Amid Political, Economic Uncertainty: Analyst Sees Apex Crypto Rising To This Level Despite 'Ultra Boring' Weekends
Portfolio Pulse from Mehab Qureshi
Over the weekend, major cryptocurrencies experienced mixed trading due to various factors including the Israel-Hamas conflict and inflation concerns. Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) saw changes of +1.19%, +0.49%, and -0.29% respectively. The global crypto market cap stands at $1.06 trillion, reflecting a 0.74% increase in the past 24 hours. Analyst Michaël van de Poppe predicts BTC could reach $27,800. Meanwhile, Coinbase director Conor Grogan noted that almost half of the existing Tether (USDT) was created by Alameda Research, a firm directly controlled by Sam-Bankman Fried.
October 16, 2023 | 2:56 am
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NEGATIVE IMPACT
Dogecoin experienced a 0.29% decrease over the weekend.
The decrease in Dogecoin's price could lead to a short-term negative impact on its price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ethereum experienced a 0.49% increase over the weekend. However, there is a continued decline in the dominance of ETH.
While Ethereum's price increased slightly, the continued decline in its dominance could lead to a neutral short-term impact on its price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Almost half of the existing Tether was created by Alameda Research, a firm directly controlled by Sam-Bankman Fried.
The information about Tether's creation could lead to a neutral short-term impact on its price as it doesn't directly indicate a positive or negative trend.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bitcoin experienced a 1.19% increase over the weekend. Analyst Michaël van de Poppe predicts it could reach $27,800.
The increase in Bitcoin's price and the positive prediction from the analyst could lead to a short-term positive impact on its price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100