Let’s take a look at what happened in the crypto industry over the weekend with U.Today’s top four news stories.
Bitcoin analyst predicts “big short squeeze”
According to a prediction by CryptoQuant CEO Ki Young Ju, Bitcoin could soon see a massive short squeeze. In a recent tweet, Young Ju pointed out that many traders continued to accumulate short positions in the $10,000–$20,000 range in late 2020 only to get liquidated later. A situation like this might occur right now, giving Bitcoin a shot in the arm.
According to Ju, the possibility that Bitcoin could undergo another big short squeeze does not indicate the beginning of a new bullish cycle. It does, however, suggest that the cryptocurrency is on the verge of bottoming out. Bitcoin fell as low as $17,600 last month before experiencing a slight relief rally.
Shiba Inu finally listed by top U.S. exchange Bittrex
Yet another major cryptocurrency exchange has embraced Shiba Inu, to the great delight of the memecoin’s community. On...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...