The crypto market’s volatility has hit Barstool CEO Dave Portnoy severely, as his single XRP investment decision has put him in a major loss. The Ripple token has been on a bullish trajectory in the last few days. And at one point, Portnoy made a decision that cost him millions in profits. Dave Portnoy Sells
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee for another read about Bitcoin (BTC) from Max Keiser, one of the most popular pioneers. His latest comments come amid soaring Bitcoin price, with the king of crypto progressively threatening to sidestep fiat money.
Crypto News of the Day: Max Keiser Says Bitcoin Could Hit $220,000 in 2025
In a recent US Crypto News publication, BeInCrypto reported Max Keiser’s prediction that Bitcoin would hit $200,000, a move that he said would alter global finance.
“At $200,000 BTC, we trigger the tipping point when millions of Bitcoiners have the wherewithal and political will to opt out of the banking system and the nation state. I am already seeing this in El Salvador. And the trickle will become a raging torrent at $200,000. And this is just the beginning,” Keiser told BeInCrypto.
The Bitcoin pioneer has revised his target, noting that Bitcoin could hit $220,000 this year. What may have prompted this change in outlook, and more importantly, why the urgency with 2025 halfway in?
Keiser’s bullish forecast for Bitcoin comes amid the pioneer crypto’s growing influence in mainstream finance. A recent US Crypto News publication pointed to this effect, indicating BlackRock’s BTC stash nearing that of Satoshi Nakamoto.
“I offer a solution for trump’s fiat money addiction, fiat money addicts need to find their bottom, and be willing to hear the message of Bitcoin. When Trump is ready to recover, Bitcoin will still be here, just a lot higher in price,” Keiser said.
The Bitcoin maxi referenced a 2022 interview where he had also forecasted a Bitcoin rally to $220,000.
Bitcoin up 700% since this interview 2 years ago (and $220,000 in 2025 looks likely).
Despite skepticism for his 2022 predictions, the pioneer crypto’s value has grown by nearly 600% from the depths of $16,000. This traction lends credibility to the forecast despite the volatility characteristic of the industry.
Beyond fundamentals, technicals also align with John Bollinger, inventor of the Bollinger indicator, who predicted a Bitcoin price breakout, as reported in another US Crypto News publication.
“Bitcoin looks to be setting up for an upside breakout as the week gets going,” Bollinger wrote in a post.
While optimism still abounds, Bitcoin price nicked a new all-time high (ATH), topping out at $111,999 on Binance. As of this writing, BTC was trading for $110,849, up 1.25% in the last 24 hours.
With prospects for further upside, Max Keiser declined to give the date he expects Bitcoin to hit $220,000, citing a need to keep markets calm.
“If I gave you both the price and date most of you would be scared,” Keiser added.
Like Keiser, Standard Chartered also forecasted a rally for Bitcoin, citing $135,000 in Q3 and $200,000 by Q4. Meanwhile, others like BitMEX co-founder Arthur Hayes are even more optimistic, anticipating a $250,000 per BTC target for Bitcoin this year.
However, Hayes’ forecast is contingent on the Federal Reserve (Fed) shifting to quantitative easing (QE).
Nearly $7.4 Trillion Parked in Money Market Funds
Meanwhile, data according to Barchart shows up to $7.397 in money market funds (MMFs). This marks a modest surge from a month ago, when BeInCrypto reported $7.24 trillion in these investment vehicles.
A staggering $7.4 Trillion is now sitting in Money Market Funds, a new all-time high pic.twitter.com/AQVGlBYpwv
This marks a new all-time high (ATH) for assets in MMFs, suggesting investors may be seeking safety amid economic uncertainty. MMFs are low-risk investments offering liquidity and yields.
With this capital signaling sidelined liquidity, some analysts view this cash buildup as a signal of market hesitation that could pivot bullish. If the capital is channeled toward Bitcoin, it could catalyze a breakout amid rising global liquidity, as indicated in a recent US Crypto News publication.
“It [money parked in MMFs] is capital that doesn’t trust the system…The moment Bitcoin confirms itself as the reserve-grade escape valve, even a 5% rotation from that $7T pile would obliterate supply and launch BTC into a new monetary regime,” Crypto strategist SightBringer said recently.
However, other analysts hold a more measured opinion, saying that capital held in MMFs must be viewed in proportion to total market capitalization.
Macro analysts argue that despite trillions held in money market funds, investors could have less dry powder than many believe relative to the equity market size.
“I’ve noticed a common narrative suggesting that the surge in money market funds means there’s a large amount of cash sitting on the sidelines. That couldn’t be further from the truth, in my view,” macro analyst Otavio Costa challenged.
The price of XRP has been moving within a bullish pattern lately, but it is still facing some tough resistance on the charts. At the time of writing, XRP is trading at $2.11, down by more than 6% in the last 24 hours.
Why is XRP Price Falling?
On June 13, Israel launched an airstrike targeting Iran’s nuclear sites, which triggered a drop in cryptocurrencies As a result, the total cryptocurrency market cap dropped by 4%. Adding to this, in the ongoing Ripple vs. SEC case, both parties submitted an updated settlement proposal the same day. However, legal experts have expressed concern that the new filing still doesn’t resolve the earlier concerns.
XRP Price Prediction: What’s Next?
Right now, the important price level to watch is around $2.34 to $2.35. This is the same area where the price was rejected not long ago, and it continues to act as a hurdle for XRP.
If XRP manages to break above this zone, the next target will be around $2.44, and if the trend continues, it could climb up to $2.60. However, if the price fails to break through, there’s a chance it could drop to its nearby support levels. The first support is at $2.10, while stronger support can be found at $2.05.
Will XRP Price Fall Below $2?
On the shorter timeframes, there’s a bullish divergence still in play, which means the chances of a sharp drop in the next couple of days are low. Analysts suggest that we might see either a slow upward move or sideways trading for now.
Additionally, XRP might have already formed a bottom in April, and since then, it seems to be building up a fresh five-wave rally. This pattern is often seen when a market trend is preparing to push higher. As long as XRP stays above the $2.11 mark, the positive outlook remains strong.
However, if the price falls below $2.11, it could trigger a deeper correction, possibly sending XRP back towards the $1.94 to $1.79 range.
The post XRP Price Prediction For June 13 appeared first on Coinpedia Fintech News
The price of XRP has been moving within a bullish pattern lately, but it is still facing some tough resistance on the charts. At the time of writing, XRP is trading at $2.11, down by more than 6% in the last 24 hours. Why is XRP Price Falling? On June 13, Israel launched an airstrike …
Economist Nouriel Roubini, often dubbed “Dr. Doom” for his historically pessimistic economic forecasts, has recently shifted to a more optimistic view on the U.S. economy. Despite concerns surrounding President Donald Trump’s protectionist trade policies, Roubini now predicts a healthy 4% growth by 2030. He attributes this to the United States’ dominance in key technological sectors, including AI, robotics, and quantum computing.
Roubini’s Optimism Amidst Tariff Worries
While Roubini acknowledges the potential short-term challenges posed by Trump’s tariffs, he believes the strength of the U.S. economy, supported by technological innovation and robust institutional structures, will ultimately prevail. He points out that the U.S. holds a competitive advantage in 10 out of 12 sectors likely to influence future economic trends, with China leading only in green projects and electric vehicles. These technological strengths are expected to balance the negative impacts of trade conflicts.
Mixed Reactions from Cathie Wood and Robert Kiyosaki
Roubini’s unexpected change in outlook has sparked mixed reactions, particularly from the cryptocurrency world. Cathie Wood, CEO of ARK Invest, disagrees with Roubini’s predictions, arguing that such conditions may lead to inflation. Wood believes that continued technological progress, combined with stricter monetary policies, will result in deflation over time.
Meanwhile, fintech writer Robert Kiyosaki forecasts potential hyperinflation in the U.S., citing global economic changes such as BRICS nations exploring a gold-backed stablecoin. Kiyosaki suggests this could undermine the U.S. dollar’s dominance and lead to significant inflationary pressures.
Roubini’s statement indicates that, despite the challenges posed by Trump’s trade policies in the first quarter, the U.S. economy is poised to recover. While mixed reactions are expected from the crypto community, Roubini’s shift in perspective has drawn attention. As complex tariff policies continue to influence U.S. economic growth, it remains to be seen whether Roubini’s 4% growth prediction will come to fruition.
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The post Economist Nouriel Roubini Sees U.S. Economy Thriving Amid Trump’s Tariffs appeared first on Coinpedia Fintech News
Economist Nouriel Roubini, often dubbed “Dr. Doom” for his historically pessimistic economic forecasts, has recently shifted to a more optimistic view on the U.S. economy. Despite concerns surrounding President Donald Trump’s protectionist trade policies, Roubini now predicts a healthy 4% growth by 2030. He attributes this to the United States’ dominance in key technological sectors, …