Technology

Bitcoin ‘bull pennant’ eyes $165K, Pomp scoops up $386M BTC: Hodler’s Digest, June 22 – 28

Posted on by Minakshi

Bitcoin’s Bullish Signals Hint at Potential ₹13 Lakh Milestone

Optimism is brewing in the Bitcoin market as technical indicators suggest a significant upward trajectory. Analysts are observing a “bull pennant” pattern, a classic chart formation that historically precedes substantial price increases. Should this pattern hold true, Bitcoin could potentially reach a staggering ₹13 Lakh (approximately $165,000 USD).

XRP Sees Price Surge Following Ripple’s SEC Announcement

In other cryptocurrency news, XRP experienced a notable price jump after Ripple Labs announced its decision to drop its cross-appeal against the US Securities and Exchange Commission (SEC). This move has been perceived positively by the market, sparking renewed interest in XRP.

The announcement, made by Ripple Labs CEO, stated that they were dropping the cross-appeal and expect the SEC to do the same. Following this, XRP saw an immediate surge. The decision is viewed as a strategic move to focus on Ripple’s core business objectives and build “the internet of value.”

Anthony Pompliano Makes Bold Bitcoin Investment

Prominent Bitcoin advocate Anthony Pompliano has reportedly made a significant investment in Bitcoin, acquiring approximately ₹3210 Crore (approximately $386 million USD) worth of BTC. This substantial investment underscores Pompliano’s bullish outlook on Bitcoin’s long-term potential and its role in the future of finance.

Summary:

  • Bitcoin’s price is potentially heading towards ₹13 Lakh based on technical analysis.
  • XRP price increased following Ripple’s decision regarding the SEC appeal.
  • Anthony Pompliano invests ₹3210 Crore in Bitcoin.
Key Takeaways:

  • Technical indicators suggest potential for significant Bitcoin price appreciation.
  • Regulatory developments continue to impact the cryptocurrency market, influencing investor sentiment and asset prices.
  • Large-scale investments by influential figures can act as catalysts for market growth and adoption.
  • Keep an eye on regulatory news, as it can significantly move coin prices.
  • Pompliano’s investment signals continued faith in Bitcoin’s future.