Bitcoin rose mildly on Tuesday and recouped some recent losses even as the crypto market remains limited in a tight range of trading amid mounting uncertainty about US tariffs.
The world’s most valuable cryptocurrency fell to $103,000 during the weekend on profit-taking away from record highs at $112,000.
An announcement by Strategy that it purchased $75 million worth of bitcoins failed to boost the market sufficiently, with prices up a modest 0.5% so far today to $105,319.
Weak Sentiment Impacts Prices
Prices are impacted by a weak market sentiment, as the US and China trade blows and accusations about violating the latest Geneva agreement.
The threat of the collapse in US-Iran nuclear talks, and mounting geopolitical tensions between Russia and Ukraine also hurt market sentiment and crypto prices.
Coinbase Knew about the Data Breach Beforehand
Reuters reported that Coinbase Global knew about the major data breach months before announcing it.
The incident caused the company nearly $400 million, with pirates reaching the clients data and asking for a $20 million ransom, and all was known by the company for multiple months releasing the information.
Timid Recovery
Cryptocurrencies are recovering today, with ethereum up 4.5% to $2606, while ripple rose 1.5% to $2.2030.
Both Solana and Cardano rose 2%, while polygon added 1.6%.
With meme currencies, Dogecoin rose 2.7%, while $Trump rose 0.7%.
Bullish Outlook
Fundstrat’s co-founder Tom Lee has predicted an explosive increase in bitcoin’s value to $250 thousand this year, and $3 million in the long term.
He believes the demand aspect on bitcoin will expand massively in the next ten years, with space for prices to rise aggressively even this year, potentially towards $250,000.
He believes bitcoin to be more valuable than gold, and might even reach $2 or $3 million in the long term.
