Bitcoin above $70k again, Jasmy Coin rises further and yet another memecoin makes the news
Last Updated on 5 June 2024 by CryptoTips.eu
Bitcoin has been trading above $70k for two days now. Will we finally see a new record at the end of this week?
The meme stock frenzy (and the rise in GameStop) following the social media post of ‘Roaring Kitty’ (Keith Gill) made the print editions of almost all global business newspapers on Tuesday. Gill has also been accused of market manipulation by a well-known investment fund on Wall Street.
What made Keith Gill aka Kitty interesting initially was his authenticity. He shared a detailed investment thesis and put his money where his mouth was, which combined with a high short interest and a restless country and boom.. investing history. This time it feels different…
— Citron Research (@CitronResearch) June 3, 2024
The ‘memecoin craze’ that usually follows (for Doge, Shiba Inu and Pepe) has not yet started, although a new memecoin is soaring (Dog go to the moon) in the CoinMarketCap top 100. Let’s hope this one won’t end in disaster.
Lastly, as any denial about an ‘indirect’ collaboration with Apple is yet to be issued by the Tim Cook company, the price of Jasmy Coin continues to climb. Beware of volatility.
Bitcoin $70k
Altcoins have dominated crypto news in recent weeks. This was mostly because of the fact that a large amount of sell orders for Bitcoin were positioned at $70k. Every time Bitcoin touched that level, it dropped 5% lower, consolidated and then rose again.
Investors are therefore increasingly wondering why the largest digital currency has not yet set a new record. There will probably be an answer this week with all the economic data expected from the United States.
After all, at the time of writing, Bitcoin is trading for $70,800.
Jasmy Coin
The so-called ‘Bitcoin of Japan’, aka Jasmy Coin, made headlines this weekend due to rumors about an ‘indirect’ collaboration with Apple.
As Apple hasn’t denied that rumor, the currency is still being boosted by active investors.
However, beware of extreme volatility because in April something similar happened to Hedera (at the time a rumor about a possible collaboration with BlackRock was the reason for that increase). That coin saw its price fall 75% after BlackRock issued a statement denying the cooperation.
