• Bitcoin and the larger crypto market have remained stable in spite of widespread rumors surrounding Binance.
• The Shiba Inu community was disappointed with the failed launch of Shibarium on Valentine’s but Cardano was handed a massive win on the same day.
• For market leader Bitcoin, the oldest digital asset has been trading in the $22,000 and $24,000 range.
Bitcoin and Crypto Market
Bitcoin and the larger crypto market have remained stable in spite of widespread rumors surrounding Binance. The Shiba Inu community was disappointed with the failed launch of Shibarium on Valentine’s but Cardano was handed a massive win on the same day. For market leader Bitcoin, the oldest digital asset has been trading in the $22,000 and $24,000 range. After an initial burst at the start of the year, the recent tight trading range suggests another break out is inevitable but a bullish or bearish direction remains anyone’s guess. The rest of the market is keenly following the leader with recent months and years showing they generally follow set trend.
Whales Make A Comeback
Analysts often advise investors to follow smart money which includes whales who hold power to break or make an investment. Recent data has shown that whales are making a comeback and accumulating heavily which signals that Bitcoin is likely headed for a bullish path. William Noble director at Emerging Assets Group predicted a surge to $56,000 marking nearly 100 percent increase while Mike Novogratz expects it to surpass $30,000 in first quarter- psychological position for some investors.
Binance FUD
Binance was once again refuting claims of any illegal activity within its centralized exchange after Reuters accused it of funneling over 400 million dollars from Silvergate Bank to Merit Peak Ltd through its subsidiary US during 2021’s three months period without establishing source or reason behind transfers. Binance quickly responded by refusing to give answers concerning transfer as per their public terms which held customers deposits in Silvergate & Nevada based custodian Prime Trust LLC .
Crypto Community Split
The crypto community continues being split over movement witnessed crypto market after disappointing couple weeks as bulls & bears continue debating over potentials for further growth or decline respectively . Some analysts remain optimistic about BTC’s future trajectory while others take more conservative views claiming this just consolidation stage before bigger move either up or down .
Conclusion
It remains to be seen if current trend continues or changes completely when next big cryptocurrency news hit headlines , however going by past performance one can safely assume most cryptos will move according leader BTC’s behavior whether it be short term dips corrections or long term bull runs .