Bitcoin now lacks the strength to re-grow to $ 40,000

Kiss musician and bassist Gene Simmons talked about his investments in cryptocurrencies amid the active Dogecoin (DOGE) and XRP pump.

“I don’t recommend any of the above, but I bought Dogecoin, XRP and other coins,” Simmons said.

The rock musician announced his investment at the beginning of the week, when the token from Ripple grew by 47% and returned to the third place in terms of market capitalization. After reaching the $ 0.75 mark, the XRP rate fell below $ 0.45, writes forklog.

The community was divided. Some supported the Kiss member, others urged him to choose the cryptocurrency “wisely”.

Simmons’ passion for Bitcoin began in 2017. Then he bragged about his investment success and admitted that he bought bitcoin for a decent amount, and also invested in Zcash and Litecoin.

Eric Peters, investment director of One River Asset Management, believes that Elon Musk may already have bought bitcoin. Otherwise, he would not have added the “#bitcoin” tag to his Twitter profile description.

“Personal statements by Elon Musk regarding the prospects of bitcoin are also linked to the stability of the cryptocurrency, suggesting that Musk himself could have invested in bitcoin. However, all the speculative and natural dynamics are not enough to push the coin to retest the all-time high above $ 40K, ”the FxPro analyst team notes.

Meanwhile, GameStop’s shares have more than doubled since their January 28 peak. They started to decline after the pump and XRP from Dogecoin.

Altcoin XRP has fallen in price by almost half on February 1. The future dynamics of the XRP rate largely depends on how the litigation between the issuer of XPR, Ripple, and the US Securities and Exchange Commission (SEC) will develop.

Practice shows that such court cases in the United States have been considered for years, and there is no need to wait for a quick resolution of the situation, writes RBC.

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