• Crypto analyst suggests that the crypto market is on the verge of an “incredible bull market”, and cites two big developments as catalysts: Coinbase’s Base and PayPal’s new stablecoin.
• Solana (SOL) recently hit a golden cross, which could signal further price appreciation.
• Analyst predicts that digital assets could reach all-time highs due to increased adoption.
Crypto Market Could See “Most Incredible Bull Market Ever”
A popular anonymous crypto analyst believes that the crypto market is about to take off in its strongest bull run yet. The host of InvestAnswers, who has 446,000 YouTube subscribers, explains that this surge could be attributed to two major developments in the space: Coinbase’s Base and PayPal’s new stablecoin.
Coinbase Launches Ethereum Layer-2 Scaling Solution
Coinbase recently launched its Ethereum layer-2 scaling solution called Base. This allows users to send transactions faster and cheaper than before by taking advantage of second-layer technology such as state channels or plasma systems. Additionally, PayPal recently launched its own USD-backed stablecoin called PayPalUSD (PYUSD). These two announcements are expected to drive increased adoption within the cryptocurrency space, leading many digital assets towards all-time highs.
Solana Hits Golden Cross
The analyst also discussed Solana (SOL), an Ethereum competitor that just hit a golden cross – when a 50 day moving average crosses through a 200 day moving average – causing the asset’s price to jump 10%. He suggested that short positions should not be taken after this kind of event because 60% – 80% of the time prices tend to go up afterwards. At press time SOL was trading at $24.35 per token, down 0.6% over the last 24 hours.
Increased Adoption Could Lead To Major Gains
The anonymous analyst believes that these developments could lead us into one of the most incredible bull markets ever seen in cryptocurrencies . With both Coinbase and PayPal entering into the crypto space with their respective solutions, investors can look forward to increased adoption which may prove profitable for those invested in digital assets .
It appears that we may soon see some major gains within the cryptocurrency space due to increasing adoption from companies like Coinbase and PayPal launching their own products utilizing blockchain technology . As always , investors should remain cautious and do their own research before making any investments in order to minimize risk .