It’s been just revealed the fact that Bitcoin will be catching up with the stocks. Check out the latest targets below.
Bitcoin to catch up with the stocks
According to blockchain analytics platform Santiment, Bitcoin (BTC) has remained relatively stable despite the recent rebound of the stock market.
According to Santiment, the stock market has reached its highest point in approximately 10 months due to the resolution of the US government’s debt ceiling problem.
Although Bitcoin has not been performing as strongly as the S&P 500 recently, the analytics firm suggests that BTC may catch up soon.
“The US House has passed a key debt ceiling deal, launching the S&P 500 to its highest price since August. Altcoins like LTC, LEO, and FGC have jumped today. With crypto lagging behind equities, there could be some BTC catch-up time coming soon.”
According to Santiment, XRP – the sixth largest cryptocurrency by market cap – is currently experiencing a surge in address activity and increased levels of optimism among the crowd.
“XRP Network is the top trending asset in crypto as prices have jumped +22% the past 19 days. We are also seeing historically high address activity surges for the sixth-ranked market cap asset. Expect XRP’s price to behave uniquely for the time being.”
Bitcoin could copy the rise of Apple, new reports claim
According to Jurrien Timmer, the global macro director at Fidelity Investments, the fluctuating cycles of crypto assets resemble those of the tech bubble, with both experiencing periods of bullishness and bearishness.
According to Timmer, similar to how Amazon and Apple emerged as successful tech stocks during the tech bubble, the crypto industry is facing a similar situation where certain digital assets will thrive while others may not survive.
Timmer believes that Bitcoin (BTC) has the potential to become the “Apple” of the cryptocurrency market. Stay tuned for more news.
