Over the past few months, there has been a lot of negative news about cryptocurrencies. Despite this, cryptocurrencies rebounded and during the first week of August, the total market capitalization remained steadily above the $1 trillion mark. There is also a lot of good news that could also lead to a recovery in the broader cryptocurrency market within a month.
One of them is that BlackRock, one of the most famous investment funds, deals with cryptocurrencies. An institution with over $1 trillion in assets is looking for partners to partner with Coinbase. The partnership aims to create a platform through which institutional investors who are part of BlackRock’s client base can enter the cryptocurrency market. Not only is this bullish news for the entire cryptocurrency market, but it also creates a great opportunity for several large-cap cryptocurrencies to rise during the month. This is because big money tends to be concentrated in large-cap cryptocurrencies.
If you want to bet on large-cap cryptocurrencies, here are a few that you should keep in mind throughout the month.
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Ethereum (ETH) is one of the best altcoins that could rise in August if news from BlackRock positively influences the market. Indeed, apart from market news, there is a lot going on in Ethereum. One of them is the upcoming merger, which will see Ethereum finally operate as Eth 2.0. In addition, Ethereum is one of the cryptocurrencies that can be bought with BlackRock institutional money. This is because it is one of the most secure cryptocurrencies after bitcoin. Ethereum is already overtaking Bitcoin in August, so there is a chance the momentum will continue.
Cardano (ADA) is one of the cryptocurrencies whose price may change as news from BlackRock filters the market. One thing that makes Cardano attractive to investors is that it is very decentralized. After the recent issues affecting high-profile cryptocurrencies, there is a good chance that decentralization will take center stage in cryptocurrency investment in the future. In addition to turning to institutional money, the Cardano development team has announced significant short-term upgrades. This could also play a role in giving Cardano momentum in August.
Bitcoin (BTC), being the largest cryptocurrency, is the obvious choice for institutional money. So now that BlackRock is showing interest in the crypto market, Bitcoin can reap big rewards. Bitcoin is already showing positive signs.
After dropping below $20,000 not too long ago, it rebounded and now holds above $22,000 throughout August. There is also data showing that most of the bitcoins in existence today have been withdrawn from exchanges, making the number one cryptocurrency highly illiquid.
Thus, if institutional investors such as BlackRock show interest in Bitcoin, its value could rise significantly. Even a small order can lead to unexpected BTC prices within a month.
Original Source: https://www.lacryptomoine.net/anglais/un-fonds-dinvestissement-dun-billion-de-dolla…
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