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Bitcoin has been steadily growing over the past two weeks. The first cause was the comments from Elon Musk and Cathie Wood, while the second one was the massive short squeeze on Monday, which pushed the price even higher.
Delta CEO Pankaj Balani said the main cryptocurrency could hit $ 30,000 - $ 42,000 in the coming days, or even advance to $ 45,000. However, it will meet strong resistance on its way to $ 50,000, but as soon as it breaks through, there will be new flows and broader market direction.
Another good news is the long-awaited update on Ethereum London Hard Fork, which is scheduled to go live on August 4.
Edward Moya, an analyst at Oanda said the outlook is improving more and more because Ethereum is "winning the blockchain wars", showing its growing dominance over Bitcoin.
Recently, FTX raised $ 900 million, while Fireblocks raised $ 310 million, thereby cementing its unicorn status at $ 2 billion. Eco also put up a fund worth $ 60 million. However, all these are just examples of a huge cash flow, when investors are eager to get in the market and DeFi companies are eager to expand.
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