Will bullish sentiment in cryptos last?

Bitcoin hit the key psychological milestone of US$50k, but it hasn’t been able to maintain those levels. It’s now a wait and see game for the next catalyst. Nathan Halliday from Zipmex says investor sentiment has been bullish following the steep losses experienced from May onwards. He says aside from Bitcoin, Ethereum and Cardano have been pushing higher on news of development upgrades. Ethereum in particular has seen big improvements since the London Fork, and even more improvements are in the pipeline. Nathan says Cardano’s forthcoming Alanzo release will facilitate smart contracts and investors have been searching for further alternatives to the Ethereum network. He says this release has seen Cardano appreciate more than 35% over the last week and is now third largest by market cap. However, Nathan says the talk at the moment is all around NFT’s (non-fungible tokens). This week VISA invested $150k into a cryptopunk NFT, because it believes that NFT’s will play a key role in the future of social media and entertainment. Nathan says it also means VISA is now effectively holding Ethereum on their balance sheet.

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