Bitcoin bulls buy BTC’s support retest as altcoins push higher
Lower support retest was bought up by bitcoin bulls, preparing BTC for another push to $50,000. Despite increased sell pressure across the market, several altcoins showed strength. Chainlink (LINK) experienced a surge overnight and currently trades at $20.50, up 13.9% in the 24-hours. Cosmos (ATOM) has gained 21.62% and trades at $7.81.
After Ethereum, ‘next stop will be higher risk altcoins’
Raoul Pal says higher risk altcoins are likely to follow Ethereum, which rose 60% in the first two weeks of 2021. As the cryptocurrency market is showing signs of bullish continuation on Jan. 15, Raoul Pal, the CEO of Real Vision Group and an avid Bitcoin (BTC) investor, is optimistic about the price of Ether (ETH). Pal also says he’s looking to add “higher risk altcoins.”
Grayscale Investments liquidates all of its XRP
Grayscale is dissolving its XRP Trust and will distribute cash to investors after liquidating all XRP held by the trust. Institutional crypto-fund manager Grayscale Investments has begun the dissolution of its XRP Trust in response to the Security and Exchange Commission’s December 2020 lawsuit alleging the XRP token is a security under U.S. law.
Retail Investors Are Back in Crypto Markets
A familiar face is back in the cryptocurrency ecosystem. Enticed by the prospect of quick profits in a rapidly appreciating asset class, retail investors are returning for a second innings to the crypto ecosystem. Unlike last time, when they exited after booking profits, retail investors might be into crypto for the long haul this time around. Bitcoin bulls region is playing a key role in the same.
Goldman Sachs to Enter Crypto Market ‘Soon’ With Custody Play
Goldman, JPMorgan and Citi are all said to be looking at crypto custody. U.S. banking powerhouse Goldman Sachs has issued a request for information (RFI) to explore digital asset custody, according to a source inside the bank. This initiative was “part of a broad digital strategy,” citing stable coins in relation to recent missives from the U.S. Office of the Comptroller of the Currency (OCC).
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