Crypto Market Overview March 20th | Dex-Trade

Crypto Market Overview March 20th | Dex-Trade

$1 Million BTC in 90 Days Is Stupid: Peter Brandt

Veteran analyst and trader with many years of experience, Peter Brandt, closely studied the forecast of the former technical director, Balaji Srinivasan, and said that it is foolish to expect Bitcoin to “shoot” to the $1 million mark over the next 90 days. Of course, Srinivasan’s current forecast is more of a “prediction” made on a wave of hype after the price of the crypto flagship crossed the $28,000 mark from south to north for the first time since last summer. It seems that the crypto-engineer and businessman was also spurred on by the fact that the growth of BTC is taking place against the backdrop of a deepening crisis in the US banking system. In this regard, he clearly supports the founder of Cardano, Charles Hoskinson, who last week announced the imminent collapse of the classical banking system and even called for the failure of banks. By the way, computer genius and market expert Nassim Nicholas Taleb also came out in support of Brant. In his opinion, it is crazy to believe that Bitcoin can grow by almost 36,000% in three months. And it's hard to disagree with him... In the meantime, Brant is less optimistic about Bitcoin’s near-term prospects and hints that traders should consider going short as he found a couple of serious gaps in the chart of the crypto flagship on the Chicago Mercantile Exchange (CME). Thus, the analyst hints at a possible imminent reversal of the cryptocurrency gold trend.

 

Raoul Pal Hints at the Leadership of ETH Among Crypto

In a recent interview on Altcoin Daily, Real Vision CEO Raoul Pal shared an interesting prediction about the behavior of crypto silver on the ETH/BTC chart. According to his observations, the pair is forming a long-term wedge, the top of which is above the center of the bottom. According to him, the only logical way out of this pattern is a powerful Ethereum breakthrough. At the same time, Pal believes that the main trump card of crypto-silver is far from its actual involvement in alternative coins, but a much more powerful technological base than that of bitcoin. This has already allowed the blockchain of the coin to form the largest market for smart contracts and literally create the technological background for the first NFT boom. The technological basis has an impressive value, which, according to Pal, is much more in demand than just the price of bitcoin, which is out of touch with reality. The businessman suggests that if his forecast turns out to be reliable, it is likely that we can see how the cost of ethereum is five times higher than the cost of the current market flagship. However, for now, it sounds as crazy as $1 million BTC. It is noteworthy that Pal is not an ethereum evangelist in the classical sense. He is, for the most part, interested in the technological prospects of assets. Therefore, in the same interview, he openly stated that ETH, quite possibly, will also not become “cryptocurrency for all time.” The very structure of the market suggests that its leaders can and should change from time to time, offering additional opportunities and a new architecture of relationships in the community.

 

Justin Sun Targets Credit Suisse for $1.5 Billion

After an unsuccessful attempt by UBS to acquire the Swiss bank Credit Suisse, the founder of Tron, Justin Sun, offered one and a half times more for the financial organization - $ 1.5 billion and has already set his sights on introducing the bank into the crypto economy. UBS plans were thwarted due to the fact that the company actively "resisted" reality and wanted to acquire Credit Suisse for one and a half times cheaper than the cost of all its shares. Such an idea was clearly not to the liking of the leadership of the financial organization, whose management had been in a panic for a month due to possible bankruptcy. However, UBS revised its initial offer and offered twice as much for the bank, that is, $2 billion. At the time of writing, there was no talk of a deal with Sun, but the purchase of UBS bank is being actively discussed and announced. At the same time, market experts remind that the sale of the bank at a price that is only slightly higher than the current market value of the shares will lead to a fundamental legal change in the format of the company, since its shareholders will cease to exist. If, under the terms of the deal, their shares are bought back, the bank itself will receive less than $1 billion directly.