{"id":384585,"date":"2019-06-01T21:00:47","date_gmt":"2019-06-01T21:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=384585"},"modified":"2024-06-11T10:11:28","modified_gmt":"2024-06-11T10:11:28","slug":"crypto-tidbits-bitcoin-taps-9100-samsung-pay-could-support-cryptocurrency-whales-accumulating","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-tidbits-bitcoin-taps-9100-samsung-pay-could-support-cryptocurrency-whales-accumulating\/","title":{"rendered":"Crypto Tidbits: Bitcoin Taps $9,100, Samsung Pay Could Support Cryptocurrency, Whales Accumulating"},"content":{"rendered":"

Another week, another round of Crypto Tidbits. Bitcoin<\/a> (BTC) has seen a crazy week of price action. On Sunday, just after we published our last edition of this weekly update, BTC shot up to $8,800, breaking out of a triangle formation that had bulls’ downfall for the better part of three weeks. While the bullish momentum has since tapered, with the cryptocurrency falling to $5,550, many are still decidedly bullish.<\/p>\n

In a recent segment on Bloomberg TV, Jehan Chu of Kenetic Capital explained<\/a> that BTC could rally by 230% into the end of the year. Chu chalked up this prediction to the fact that Silicon Valley and Wall Street are FOMOing in; the block reward reduction for Bitcoin is now less than one year out; and investors are looking for riskier plays, like digital assets.<\/p>\n

Despite the clearly bullish momentum, we’ve seen some, like Mike Novogratz, claim that Bitcoin is either poised for a drawdown or a bout of consolidation. Per previous reports from NewsBTC<\/a>, the former Wall Street investor suggested that BTC is likely to consolidate between “$7,000 and $10,000” from here, adding that “trees don’t grow to the sky” in an evident attempt to hint that the crypto market may be overbought.<\/p>\n

Price action aside, the industry continued to trudge forward. This week, however, was a bit slower than normal. Regardless, we still saw a number of interesting developments. Let’s take a closer look, shall we?<\/p>\n

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Related Reading: Crypto Tidbits: AT&T Accepts Bitcoin, Grayscale Ethereum Trust Launches Publicly, Binance Margin Inbound<\/a><\/h6>\n

Crypto Tidbits<\/h2>\n