Technology

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

Posted on by Minakshi

Bitcoin’s Ascent: Bull Pennant Hints at ₹13 Lakh Price Target!

The cryptocurrency markets are buzzing with anticipation as Bitcoin charts suggest a potential surge towards $165,000 (approximately ₹13,750,000). Technical analysts are pointing to a “bull pennant” formation, a pattern often seen before significant upward price movements. This comes amid renewed institutional interest and growing acceptance of Bitcoin as a legitimate asset class.

Ripple’s XRP Sees Price Jump Amid Legal Developments

In other crypto news, XRP, the cryptocurrency associated with Ripple Labs, experienced a price jump of over 3% following an announcement from Ripple CEO Brad Garlinghouse. The company is reportedly dropping its cross-appeal against the US Securities and Exchange Commission (SEC), a move that appears to have boosted investor confidence.

Garlinghouse stated they are “closing this chapter once and for all and focusing on what’s most important – building the Internet of Value”. This positive development has injected fresh optimism into the XRP community.

Anthony Pompliano Makes Massive Bitcoin Investment

Adding fuel to the bullish sentiment, prominent cryptocurrency advocate and investor, Anthony Pompliano, has reportedly scooped up a substantial amount of Bitcoin, totaling $386 million (approximately ₹32,166,000,000). This significant investment underscores Pompliano’s unwavering belief in the long-term potential of Bitcoin and its role in the future of finance.

This purchase not only demonstrates continued high-profile investment in Bitcoin, but also potentially signals to the broader market that now might be an opportune time to consider adding to Bitcoin holdings.

Summary:

  • Bitcoin price could rally towards ₹1.3 Crore based on “bull pennant” formation.
  • XRP price rose following Ripple’s decision to drop its SEC cross-appeal.
  • Anthony Pompliano invests a huge amount of ₹32,166 Crore in Bitcoin.
Key Takeaways:

  • Technical indicators suggest potential for significant Bitcoin price appreciation.
  • Legal developments can significantly impact cryptocurrency prices, as seen with XRP.
  • Large investments from prominent figures can boost market confidence in Bitcoin.
  • The overall sentiment in the cryptocurrency market appears to be increasingly positive.
  • Keep a close eye on regulatory updates as they continue to shape the digital asset landscape.