From a potential year-end rally for Ethereum and a bottom for Bitcoin, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin and Ethereum
For the first time since September, a technical indicator is pointing to a potential year-end rally for Ethereum. As reported by Bloomberg, the last time the GTI VERA Convergence Divergence Technical Gauge, which detects trend reversals, found a similar pattern, Ethereum rallied for about a month.As for Bitcoin, the founder of crypto investment firm BKCM says he believes BTC will hit a bottom around $2,900.“I think we’re getting closer to the bottom. We have the preconditions for the bottom. The mania that we had last year – you’re seeing that reflected here in a pessimism. So the preconditions are there. It wouldn’t surprise me if we pop down to $2,900 on Bitcoin before we bottom.”