Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano
Barclays internet analyst Ross Sandler believes that a cryptocurrency by Facebook could add $19 billion to its revenue by 2021. If that happens, it will help expand the reach of cryptocurrencies and will be a major sentiment booster for the whole sector.
Overstock.com’s blockchain subsidiary, Medici Ventures has purchased a 5.1 percent stake in the blockchain banking platform Bankorus. The firm has purchased significant stakes in various blockchain companies.
It is not only in the West that crypto is generating significant interest. Chinese cryptocurrency mining manufacturer Canaan Creative is rumoured to have secured hundreds of millions of dollars of financing from unnamed parties.
We find numerous companies that have been moving ahead with blockchain- and crypto-related projects. This shows that the sector is generating huge interest from traditional players. It is only a matter of time before the price of cryptocurrencies starts to react to all these positive fundamental developments.
However, analysts at Bloomberg expect Bitcoin to head southward. They have observed that the price action is similar to November of last year, which had led to a sharp fall. But what do our charts forecast? Let’s find out.