The Tesla CEO said that bitcoin mining is not environmental friendly considering the source of energy used, he therefore suspend purchase of Tesla products with Bitcoin. He said he is considering Altcoins that won’t have such negative impact. Which coin do you think he should consider?
Crypto analyst Nicholas Merten has announced 5 altcoins she believes will explode in her latest statement.
Here are the coins he predicts will rise:
What do you think about these coins in general?
Do you play altcoins on your own or do you use external analyzes? I am asking for tips on actually caught in the topic.
The price of Bitcoin is often largely tied in with the price of the altcoins, and vice versa, and therefore with notice that when the price of Bitcoin rises, so does the price of the altcoins, and when there is a decline most of the crypto market reacts in the same way as well. Recently, Ethereum has pushed forward, with Bitcoin price rising above 51k USD, however the price of Bitcoin has since come down a bit. This could be a pull back that tests the next resistance level and could see a major price hike. In my opinion, a price hike in Bitcoin should divert the attention away from altcoins to Bitcoin, and this should cause their price to decline whilst Bitcoin increases in price. Why do you think there is this relationship between the two?
Major investors are massively turning to two decentralized finance (DeFi) assets, according to crypto data analytics firm Santiment.
These two coins are reported to have significantly increased whale numbers: AAVE and REN.
In your opinion, what could be the reasons for this increase in interest?