Bitcoin Bears & XRP Bulls
Bitcoin feels stuck and the bears are winning right now. But of course this won’t last forever, pretty soon Bitcoin will breakout to the upside and head towards the next target of $75,000 and then $100,000 as per the stock to flow model.
In contrast XRP made a huge bullish move this past week pumping past $1 and is still looking strong. Of course, we should expect corrections on the way up. At this rate XRP could see $3 sooner of later. Look at the giant green candle on the weekly chart. If things continue to trend in Ripple’s direction in the SEC’s lawsuit against them then this could add more bullish momentum to XRP’s price.
Most bullish news from this week
Goldman Sachs CEO David Solomon has said that he thinks the Bitcoin and digital currency world will soon experience a “big evolution,” particularly regarding regulations in the United States. (source)
U.S. banking giant State Street, with over $3 trillion worth of assets under management, is helping build a cryptocurrency trading platform for institutions. (source)
California real estate stalwart Caruso properties will now accept Bitcoin for rent on all its properties. (source)
Interviews Recap
Sunny Lu - I had a great time interviewing VeChain CEO Sunny Lu this past week. After my interview with Sunny I’m even more bullish on VeChain and feel it is going to be one of the biggest winners in the blockchain/crypto industry. Sunny talks about the recent Salesforce adoption and if Tesla is on the list of companies they are targeting. Be sure to watch this interview.
William Quigley - William is one of the OG’s in the crypto market, he cofounded Tether and Wax which is a marketplace that has integrated NFTs and is partnered with larger companies such as Marvel, Capcom, Topps and many more. We discuss all things NFTs, Bitcoin, SEC Ripple XRP lawsuit and more.
Crypto Taxes
Tax season is about to wrap up in April. Have you prepared your crypto taxes yet for trades made in 2020? Be sure to do so, I personally use TaxBit to help me prepare my crypto taxes which I then share with my accountant. Visit TaxBit’s website to learn more.
-Tony
Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.
Very interesting