Hi friend!
Vanessa from buidlbee here! Your one-stop destination for everything that helps you #MakeItWithCrypto! 😎 I hope you had an amazing weekend and are ready to take in all the crypto news you’ve missed because trust me…they’re juicy.
The bears are retreating! 🐻
A new Shiba Inu contender. 📈
Are the bulls running or trapped? 🐂
The Crypto Winter could be over soon
The market has been heavily bearish for over a year now, and we’ve been dealing with bankruptcies, crashes, and layoffs during the long Crypto Winter. However, two major future acquisitions have the potential to shake things up for the better and reverse the current market trend! 🥳
Tron Foundation acquiring Digital Currency Group (DCG) [parent company to crypto giants Genesis and Grayscale].
What does this mean for the industry?
Binance completely dominated the market last year and has been doing as well as it gets through the FTX trouble. The Asian-rooted company will give room for larger investors from that part of the world to enter the market. The same story goes for Tron, who recently acquired Huobi Global. Furthermore, such large acquisitions usually indicate a market turn, and with the current bullish market behavior, all fingers point to a brighter future for crypto 🚀
The Marshall Inu token rose by ⁓80% in one day
In the past 24 hours, the Marshall Inu (MRI) token went from $0.006421 to $0.01149, that’s +79.04%! The meme coin was created to support Mixed Martial Artists (MMAs) and was launched last January on Ethereum.
It caught our eye when it entered Google trends today, coinciding with the start of the Marshall Fighting Championship in Dubai. The coin currently trades at $0.01152, -79.33% in 24 hours, with a weekly growth of 60.8% (from $0.004531 to $0.01156).
The fighter token will be competing with other meme coins like Shiba Inu. Is there more fight to come? Here are some reasons MRI may be yet to see its peak:
There are several upcoming international MFC championships this year.
Technical analysis indicates the token reaching up to $0.03.
Former UFC champion, Francis Nannou, may sign with Marshall Fighting Championship.
Consistent improvement and development in the token’s ecosystem.
How long will the bull run last?
Ever since the market has been suspiciously green, it’s led to the next big question, “How long will it last?”. Bitcoin had a short consolidation in the $21K region from January 15–16, surpassing $20K for the first time since June. The leading crypto also attained its second successful streak in history at 12 days straight 🔥
So what do we expect for Bitcoin in 2023? 🤔
Bears like Mark Mobius still think there’s a bottom of $10K to expect before any worthwhile Bull Run.
Standard Chartered Bank published a 2023 forecast with a $5K bottom.
Due to the fact that BTC is still considered a risky asset, venture capitalist Bill Tai thinks there’s a $12K drop waiting to happen before the asset picks up again.
On a more modest note, top trader PlanB thinks we could get above $30K upon the halving and experience a true Bull Run in 2025, where BTC could hit $100K.
CakeDeFi CEO Dr. Julian Hosp also thinks we are yet to see a significant impact, and Bitcoin won’t be able to cross $40K this year.
Finally, Ed Moya, senior market analyst at Oanda, believes Bitcoin prices can only be shaken by another sizable liquidation at exchanges, just as we experienced last year.
These are some of my favorites, but for more, you could check out our recent article, where we talk about these predictions in more detail.
That’s all the tea I have for you today, friend, and don’t be shy to join in on the conversation 😏 Drop your own analysis and predictions in the comments and share with other friends to get their takes. See you tomorrow with more trending topics from the streets of crypto!