Cryptocurrencies Price Prediction: Bitcoin & Ripple – Asian Wrap 24 Nov
|Bitcoin investors are growing “euphoric,” a pullback could be nigh and disastrous
Bitcoin is trading closer to the all-time high now more than ever. Extreme speculation, fear, and greed are factors that have crept back to the market. Trading within a whisker of $19,000 has left many wondering just how far this rally can go.
Prominent analyst shorts XRP amid growing euphoria among investors
XRP was one of the few cryptocurrencies not going up despite the bullishness of the market. However, in the past four days, XRP price has exploded by 87%, reaching a high of $0.5544. Big Chonis, a crypto mentor and trader, has just stated that there is a lot of euphoria around XRP, and a short looks good now.
Bitcoin is a better investment vehicle than gold and institutional investors buy it
Besides the fear of missing out, a shift from gold to Bitcoin quickly picks up momentum among corporate investors as they now see it as a better store of value. More corporate investors turn to Bitcoin as Grayscale reports over 1billion added to its cryptocurrency funds in Q3 2020
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.