After Bitcoin posted a solid bounce and reasonably strong weekly close, the week in crypto has begun on a positive note. And that’s despite there being next to no chance of hitting analyst PlanB’s “worst-case” BTC price target for the end of November.
That figure was US$98K, by the way. BTC is currently changing hands for a bit over US$57K.
Floor model $98K Nov close will probably be a first miss (after nailing Aug, Sep, Oct). S2F model not affected and indeed on track towards $100K. pic.twitter.com/QO3bRUoGo3
— PlanB (@100trillionUSD) November 25, 2021
Meanwhile, a couple of big Bitcoin bulls are dominating the news today. More on that further below…
At the time of writing, the entire market has responded well to the $53K Bitcoin bounce with the overall crypto market cap up about 5.6% and travelling okay at US$2.71 trillion, according to CoinGecko data.
Every coin in the top 10 by market cap is looking a bit stronger today than they were on Friday and the weekend, up roughly 4.5 to 10% over the past 24 hours.
Looking for some notable projects barnstorming it today, and we can see the following: metaverse projects Metahero (HERO) +44%; Polkacity (POLC) +28%; and Realm (REALM) +28%; NFT platform Rarible (RARI) + 35%; and stablecoin platform token Reserve Rights Token (RSR) + 25%.
The latter was recently listed on the KuCoin exchange and has also been receiving a bit of love from influential traders just lately…
I hope you listened guys.
Already 50% profit https://t.co/WbvulOJZyy pic.twitter.com/H9y1BNcsvE
— 🥇ProfessorAstrones🥇 (@Astrones2) November 29, 2021
Crypto news: Saylor buys the dip; Dorsey plans to quit
• Bitcoin bull Michael Saylor has announced that his business intelligence company MicroStrategy bought another 7,000 BTC in the financial fourth quarter this year – for about US$414 million.
The average price for those latest-purchased coins was about US$59K, although MicroStrategy now holds a total of 121,044 Bitcoin bought for an average price of US$29,534.
You won’t get my #Bitcoin @saylor! 😉
— Natalie ₿runell (@natbrunell) November 29, 2021
MicroStrategy now owns 121,044 #Bitcoin
Michael @Saylor personally hodls 17,732 #Bitcoin
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) November 29, 2021
• In breaking news, Jack Dorsey, another prominent advocate for Bitcoin, is stepping down from his role as CEO of Twitter, which he co-founded in 2006. And the news has caused no small amount of speculation on crypto Twitter as to his motive and next move.
As yet, it’s unclear whether Dorsey is leaving the social-media behemoth to focus on running his financial services and digital payments company Square, which recently announced it’s developing a decentralised Bitcoin exchange.
According to Cointelegraph, the DEX project, called tbDEX, released its white paper on November 19, detailing plans to create a message protocol designed to facilitate trust relationships without relying on centralised control access.
Speculative reactions to Dorsey’s news so far shown a mix of wariness…
Agreed.
— Pomp 🌪 (@APompliano) November 29, 2021
… and hopium…
Jack resigned from Twitter to become a full-time dev for which coin?
Send everything to Valhalla
— TheoTrader 🌷 (@theo_crypto99) November 29, 2021
@jack the rumors say you’re stepping down soon? Do I take it that it’s time to fully embrace the crypto revolution and decentralize social media?
— Charles Hoskinson (@IOHK_Charles) November 29, 2021
Twitter CEO @Jack is expected to step down.
To run the new #Bitcoin exchange?
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) November 29, 2021
The man himself, however, has now posted his reasons and is “owning the decision”. As for his next focus, however, that’s a card played close to chest for the moment…
#Bitcoin needs you more than Twitter.
— Eric Weiss ⚡️ (@Eric_BIGfund) November 29, 2021
