Top 3 Bullish Crypto News – Market Likely to Go HIGHER SOON?
The crypto market has performed quite well in the past week. Most cryptocurrencies are up, as Bitcoin managed to reclaim its +$22,000 territory. Ethereum’s merger may have been a strong contributor to the positivity in the crypto market, but there are other factors that helped push crypto prices higher. In this article, we will go over the top 3 bullish crypto news that also helps green prices. Who knows, they may also cause a higher ripple effect, see what we did there? 😉
The crypto market is UP – what happened?
The crypto market bottomed out as the market capitalization was crushed and hit a low of $920 billion. However, as the merger date approached, prices began to reposition themselves. Crypto prices increased in the last 7 days by an average of 16%. Bitcoin was among the top-performing cryptos, as prices jumped 15% from their bottom price of $18,700. Other cryptos such as Helium, Cosmos, and Solana are also up by 35%, 26%, and 17%, respectively.
Top 3 Bullish Crypto News
Ethereum’s merger has definitely had an impact on crypto prices. However, there are other fundamental news that also affected the general mood of the crypto market. Investors often look at the macro picture to try to gauge overall market sentiment, rather than looking at a single event. Here are 3 bullish crypto news that happened in the last week.
#1 Fidelity Investments Can Add Bitcoin Trading For Individual Investors
When a well-established and mainstream company decides to open its doors to crypto investors, crypto traded volumes often increase. Fidelity is an American multinational company based in Boston. Back in 2018, it opened up Bitcoin trading to hedge funds and other large institutional investors. Today, it is considering opening the same door to individual investors. The company already has more than 34 million brokerage accounts. Not only will this help the average Joe get into the crypto market, but this will create higher demand for Bitcoin, and thus potentially higher prices.
#2 Starbucks enters Web3.0
Starbucks announced its first “digital community” that will promote its loyalty program. This will allow its loyal customers to earn and purchase digital goods that unlock special experiences and incentives, thus blending the company’s popular Starbucks Rewards loyalty program with a new unique NFT platform.
#3 Micro Strategy Buy More Bitcoins
Microstrategy is known to be a traditional company that stocks Bitcoins. The first purchase started back in August 2020, during the early beginnings of the crypto bull run. However, with the latest crypto price drop, the company is deep in the red. This has been a highly controversial topic, since its executive chairman and co-founder Michael J. Saylor is the one pushing the Bitcoin narrative. He believes it was the best move despite Bitcoin losing more than 68% from its peak.
However, the company recently bought another $500,000,000 worth of Bitcoins at an average price of around $21,000, thus reducing the average price. This purchase is likely to push the crypto market higher, especially since other events are unfolding in the cryptosphere.
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