Technology

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

Posted on by Minakshi

Bitcoin Bulls Eye ₹1.3 Crore Amidst Major Crypto Developments

Bitcoin Price Poised for Potential Surge?

The cryptocurrency market is buzzing with anticipation as Bitcoin exhibits bullish patterns, potentially targeting a price of $165,000 (approximately ₹1.3 Crore). Technical analysts are closely monitoring market trends for confirmation of this upward trajectory.

Understanding the “Bull Pennant”

The “bull pennant” is a chart pattern that suggests a continuation of an upward trend. Should Bitcoin successfully break through resistance levels, this could trigger a significant rally, attracting both seasoned investors and newcomers to the crypto space.

Anthony Pompliano Makes Waves with Massive Bitcoin Purchase

Prominent crypto investor Anthony Pompliano has reportedly acquired $386 million (over ₹3,200 Crore) worth of Bitcoin, signalling strong confidence in the digital asset’s long-term potential. This substantial investment is generating considerable excitement within the Indian crypto community.

Ripple’s XRP Sees Price Jump Following Legal Development

XRP, the cryptocurrency associated with Ripple, experienced a price increase of over 3%. This followed Ripple CEO Brad Garlinghouse’s announcement that the company is dropping its cross-appeal against the US Securities and Exchange Commission (SEC). This development is seen as a positive step towards resolving regulatory uncertainties surrounding Ripple.

  • XRP spiked to $2.18 following the announcement.
  • Garlinghouse stated the company is focusing on “building the internet of Value.”
Summary:

  • Bitcoin price predicted to reach ₹1.3 Crore based on “bull pennant” pattern.
  • Anthony Pompliano invests over ₹3,200 Crore in Bitcoin, boosting market confidence.
  • Ripple’s XRP experiences a price surge after legal development with the SEC.
Key Takeaways:

  • The Indian crypto market is closely watching Bitcoin’s potential price surge.
  • Large institutional investments in Bitcoin can significantly impact market sentiment.
  • Regulatory clarity is crucial for the growth and stability of the cryptocurrency market in India.
  • Developments in the Ripple vs. SEC case can influence the broader altcoin market.
  • Investing in cryptocurrency carries inherent risk and requires due diligence.