Naturally, we look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we see how Google is much deeper into crypto than most people think. We also analyze whether there are any bears on the horizon for the Bitcoin (BTC) price.
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices of top 25 crypto rise
We are seeing positive sentiment today. At the time of writing, the live Bitcoin (BTC) price is EUR 21,264.61 ($21,341.97). This is 0.66% higher than during our Bitcoin update from gsiteren.
Among the other coins in the top 25 crypto, we see even more positivity. Apart from the stable coins, we only see green numbers. The highest profit is currently +10.88% for Cosmos Hub (ATOM). On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Coins (Image: Pexels / Worldspectrum)
Google much deeper into crypto than anyone thought
At first glance, Google does not seem overly active in crypto, but those who look further will come to a surprising conclusion. Indeed, Alphabet, Google’s parent company is currently the world’s largest investor in crypto and blockchain companies. They have invested as much as $1.5 billion dollars. Remarkably, this investment is divided among 4 companies:
Fireblocks: a storage platform for digital assets;
Dapper Labs: a Web3 game company;
Voltage: a tool to maximize the use of Bitcoin infrastructure; and
Digital Currency Group, a so-called venture capital company.
Furthermore, on the list of major investors in crypto companies we see Samsung and several major banks such as Morgan Stanley and Goldman Sachs. In total, there are currently 61 blockchain and crypto companies that collectively raised $6 billion through investments from a total of 40 lenders.
Analysts see bears on the road for Bitcoin (BTC) price
Meanwhile, analysts are increasingly gloomy about the Bitcoin (BTC) price. More and more we see the expectation that a new bear-rally is coming that will bring the prices to the 2022 low.
First, there are macroeconomic factors such as inflation and rising prices. People doubt the Fed’s policies and wonder if they are sufficient to curb inflation. Therefore, one expects investors to make less risky investments in the coming period. A price drop of 20% for the BTC is not excluded. Compared to the current Bitcoin price, the price would then be around $17,000.
Other analysts are even more pessimistic. For example, analyst Gareth Soloway, who has made previous correct bear predictions, gave an interview to Kitco News. In it, he predicted a new wave of correction that is unprecedentedly harsh. You can watch the interview here.
As he explains, he expects the price to drop to around $12,000.00 to $13,000.00. After this, he expects a recovery, where Bitcoin (BTC) could rise to $500,000.00, as Mike Novogratz also indicated earlier.
Bitcoin (BTC) price expectation in the short term
The price decline may already begin in the very short term. The Bitcoin (BTC) price is currently below its long-term (200 weeks) and short-term (50 days) moving averages. This creates a vulnerable position for the Bitcoin price.
Analysts therefore expect to see some reasonably stable days leading up to the FED Jackson Hole symposium, where FED Chairman Powell will deliver an important speech. Under current market conditions, they expect a bearish BTC price development thereafter that will push the price back to the long-term support region between $18,300.00 and $19,500.00.
Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”