Genesis Trading CEO Says Bitcoin Could Fall 30%, Plus Ripple and XRP, EOS, Litecoin, Cardano, NEO, M
From the search for a Bitcoin bottom to the crypto equivalent of Cyber Monday, here’s a look at some of the stories breaking in the world of blockchain.
The CEO of Genesis Trading says he believes Bitcoin could drop another 30% until it finds a bottom. In a new interview on CNBC, Michael Moro says he doesn’t believe Bitcoin’s price in the short term matters to institutional investors.“This is about the fifth or sixth 75 percent-plus drawdown that we’ve seen in the 10-year history of Bitcoin. And so if you have that [long-term] lens, I don’t believe institutional investors really ultimately care where the price of Bitcoin ends in 2018 simply because they’re looking at things three to five years out.”
Crypto Sunday Black Friday and Cyber Monday have become traditions in the world of retail. Now, crypto shoppers can join in on the first-ever Crypto Sunday on November 25th.
It’s for all kinds of retailers who want to offer great deals for cryptocurrency. Crypto leaders Coinmama, Ledger, LocalBitcoins, eToro, Coinbase and CEX.io are collaborating with big mainstream brands on the retail side. Shoppers will be able to find deals and spend their crypto at Microsoft, Expedia, OKCupid, Rakutan, Travelbybit and dozens of other merchants.
The list of supported coins includes Bitcoin, XRP, Ethereum, Bitcoin Cash, EOS, Litecoin, Ethereum Classic, Cardano, Dash, Monero and NEO.
Bitcoin (BTC) is down 11.46% over the past 24 hours and is currently trading at $3,828.94 on Coinbase. BTC dominance is at 54.3% and the total cryptocurrency market cap is currently at $122 Billion.