Cryptocurrencies like Bitcoin and altcoins are suddenly heating up once again, thawing out of their long extended crypto winter.
Alongside crypto, precious metals are also rallying potentially due to the two asset classes sharing similarities, such as scarce supply.
But a sudden “perfect storm” causing silver prices to surge sky-high shouldn’t have investors expecting a similar breakout in altcoins – the silver to Bitcoin as digital gold.
XAGUSD Surges By Over 18% To $23 A Troy Ounce On Monetary Mismanagement
In the last 48 hours, spot silver prices have exploded from under $20 a troy ounce to $23 at the high. The now over 18% rally has the finance world abuzz with what’s causing the incredible run in the precious metal.
Gold has also been surging as investors continue to look to the asset as a safe haven and hedge against inflation. Precious metals, due to their scarce, limited supplies rise in value during monetary conditions like the present.
Central banks across the globe are printing more and more fiat money, devaluing the overall money supply through inflation. At the same time, gold and silver supplies remain finite, prompting their valuations to rise along with demand.
RELATED READING | GOLD CHART SHOWS WHY BITCOIN IS THE FASTEST HORSE IN RACE AGAINST INFLATION
The same sort of conditions are also causing Bitcoin and altcoins in the crypto market to rise. Bitcoin’s two-year performance is currently neck and neck with gold, despite the rollercoaster ride BTC took to get there.
Altcoins, which feature a price chart eerily similar to the silver market, has also recently been breaking out. These assets too have hard-capped supplies in many cases, or at least supplies that are limited in some way.
But silver’s “perfect storm” surge likely won’t repeat in altcoins, despite the similarities. This is because there are some unique factors driving silver’s rally that crypto-assets can’t replicate.
Silver XAGUSD to Total Altcoin Market Cap Comparison | Source: TradingView
Green Initiatives Keep Silver Shining While Comparable Crypto Altcoins Get Left Behind
Altcoins may be the crypto version of silver much like Bitcoin is to gold, but don’t expect altcoins to follow the recent pump in XAGUSD.
The two price charts may be similar, but there are unique factors fueling the silver rally that altcoins can’t mimic.
In addition to being used as a hedge against inflation, precious metals existing in a physical form gives them added benefits that crypto-assets can’t match.
Being digital-only has its benefits too, but its the physical use cases of silver that are driving the price increase.
RELATED READING | GOLD TO BECOME MORE LIKE BITCOIN IN COMING DECADE AS WORLD GOES DIGITAL
Precious metals, like crypto, are both currency and commodity. Because supply and demand heavily impact the price of commodities, silver being central to a greener future is driving renewed demand.
Gold is used in computer motherboards and circuitry, while silver is used in solar panels and other environmentally friendly efforts.
Altcoins may be performing well due to the bear market ending, coinciding with money supply flooding the market, but without a physical form or use case, crypto won’t surge in the same way silver has.
Featured image from Deposit Photos. origin »
BitGo, a San Francisco domiciled crypto custodian, is extending its API's for clients to append their data in line with the FATF ‘Travel Rule.' This set of regulations came into action back in 2019 under recommendation 16, requiring all Virtual Asset Service Providers (VASP) to comply with the guidelines. Most notably is the aspect of […]
Bitcoin is beginning to flash some signs of strength as it starts breaking out of the recently established trading range between $9,00 and $9,300 The crypto could soon make a move to test the resistance that sits towards the top of its long-held trading range This resistance extends from $9,700 to $10,000 BTC’s tempered strength comes as altcoins begin rallying, with some even climbing as much as 100% yesterday Analysts are noting that there are […]
It isn’t only Cardano, Chainlink, and DeFi coins that are rallying at the moment. VeChain (VET), one of the hottest crypto properties of the last bubble, is up 20% in the past hour alone. Stepping back slightly, the asset’s performance is even more impressive.
Crypto investors have been eager to trade in a rallying market, however, at the moment the market has been consolidating. With the largest digital asset, Bitcoin bouncing between its immediate resistaThe post Bitcoin whales turn hodlers as market points at a possible rally appeared first on AMBCrypto.
In 2017 and 2018, non-Bitcoin crypto assets — that’s to say, altcoins — were in vogue. Not a day would go by during the previous bull run without some no-name project, maybe with a market capitalization of a few million, rallying hundreds of percent.
Bitcoin is rallying again, and some analysts are taking a closer look at data extracted from the underlying blockchain for signals on whether cryptocurrency miners are buying or selling. Or if they're HODLing.
Bitcoin’s recovery over the past seven weeks has been nothing short of spectacular. From the $3,700 capitulation low, the lead crypto has gained over 100%, rallying by over $5,000 to $9,300 today.
Although all altcoins are not yet rallying in tandem, some top crypto assets have been outperforming as of late. Case in point: CoinMarketCap data as of the time of this article’s writing, XRP — the third-largest cryptocurrency by market capitalization — is up 10% in the past 24 hours, outpacing Bitcoin’s relatively mild 0.
Prior to late last week’s rally to $7,800, Bitcoin was stuck in a consolidation pattern for weeks on end, trading in a 10 percent range for what was literally weeks. During that time, two altcoins managed to break the mold, rallying as the rest of the cryptocurrency market stagnated: Tezos (XTZ) and Chainlink (LINK), the […]
The post Analyst: Downside may be imminent for Chainlink and Tezos, April’s top crypto trades appeared first on CryptoSlate.
Another week, another round of Crypto Tidbits. Over the past week, Bitcoin has performed rather well, rallying from $6,100 to $6,800 as of the time of this article’s writing, a few percent shy of the multi-week high of $7,200.
Following a brief selloff that led Bitcoin down to lows of $5,800 overnight, the crypto has been able to post a strong and sustainable rebound that has since led it to climb towards $6,500, with bulls currently attempting to reclaim its previous position within the upper-$6,000 region. It now appears that bulls are in the...
Since the $3,800 bottom, Bitcoin has done surprisingly well, rallying as high as $7,100 just this weekend to register an 87 percent recovery. Altcoins followed suit, posting similar gains to the crypto market’s leader.
Another week, another round of Crypto Tidbits. After last week’s brutal showing, Bitcoin mounted a strong recovery over the past few days, rallying as high as $7,100 yesterday, marking an 85% gain from the $3,800 capitulation bottom.
Chainlink (LINK) has by far been one of the most bullish cryptocurrencies throughout both 2019 and 2020, with the crypto rallying to highs of nearly $5. 00 in mid-February, which is around when the aggregated market lost its momentum and began to crater.
Ever since tapping multi-week lows on the weekend, the crypto market has embarked on a recovery. XRP, having traded as low as $0. 22 last week is now at $0. 241, rallying alongside Bitcoin, which has retaken $9,000 as of the time of this article’s writing, per data from CoinMarketCap.
The aggregated crypto market has been caught within a firm downtrend over the past several days and weeks, but one top crypto has been able to buck this trend, rallying to fresh all-time highs against its Bitcoin trading pair yesterday before incurring a selloff today.
The crypto rally of 2020 is one for the history books already, with Bitcoin and altcoins rallying well over 50% year-to-date, and in some cases, specific crypto assets are up well over 1,000%. But the outrageous and irrational rally could be coming to an end soon if sell signals flashing across the market trigger a...
Another week, another round of Crypto Tidbits. Bitcoin saw quite the past week in terms of price action, rallying from a low of $9,100 to as high as $9,900 (a high just set hours ago as of the time of this article’s writing).
The crypto market has found itself in a steep recovery over the past 50 days. Ethereum, especially, has strongly surged higher off the December lows, rallying from $120 to $220, which is where the second-largest cryptocurrency sits as of the time of this article’s writing.
XRP is the talk of the crypto space today, after rallying over 7% in a matter of minutes towards a high of 27 cents per XRP token. The surge is the result of a breakout on both the XRP/USD and XRP/BTC trading pairs, indicating that Ripple will so rally against the dollar and Bitcoin itself.... The post appeared first on NewsBTC.
Ethereum (ETH) along with most other major altcoins has been able to post a decent climb today, with the crypto rallying into the $170 region while Bitcoin pushes up towards $9,000. It is important to note that this rally may just be getting started, as one prominent cryptocurrency analyst explained in a recent tweet that... The post appeared first on NewsBTC.
Top financial market analysts often live and die by the mantra that volume always precedes price, and the same is true for crypto assets like Bitcoin and the rest of the altcoin market. An indicator designed to spot early changes in volume may be signaling that although altcoins are rallying across the greater crypto market,... The post appeared first on NewsBTC.
Near the top of the Bitcoin bull market in 2018, Cardano (ADA) was dominating. Everything. Aside from a few select altcoins in Ethereum, XRP, and BCH, ADA was at the top of the market, rallying on a seemingly strong team and the promise of Cardano becoming the next leading blockchain that could service everything and... The post appeared first on NewsBTC.
Another week, another round of Crypto Tidbits. The past seven days have been quite, quite exciting for Bitcoin and its ilk. Per data from Coin360, BTC has gained 11% in the past week, rallying as high as $9,000 as buyers have stepped in en-masse.
While Bitcoin has seen a stellar day, rallying by 8% to a high of $8,880 on the back of sudden new-year buying pressure, other crypto assets have excelled, shocking investors across the board. The most notable of these outperformers is the Satoshi Variant fork (BSV), the now-second largest cryptocurrency with the word “Bitcoin” in its... The post appeared first on NewsBTC.
Bitcoin price has been on an absolute tear over the last 24 hours, rallying from lows around $8,000 to as high now as $8700, giving bullish crypto traders confidence that a near-term bottom is in, and more upside could be in the days ahead.
Over the past seven months, analysts have been wondering when the crypto market is going to revert back to a bull phase. Related Reading: Ripple CEO: These 3 Key Reasons Are Why XRP is Not a Security You see, when Bitcoin started rallying from $4,000 higher in early-2019, analysts and investors thought this was the start... The post appeared first on NewsBTC.
Bitcoin, Ethereum, and the rest of the crypto market have been on quite the tear of the past week, with BTC rallying from $6,800 to $8,450 in a matter of a few days. But over the past 48 hours, the crypto market has stalled, with nearly all digital assets posting 8% losses from the local... The post appeared first on NewsBTC.
Most cryptocurrencies have been rallying this week, however, Bitcoin’s pump yesterday caused many altcoins – such as Ripple, Ethereum, and many more – to retrace against BTC. That trend is now expected to continue, causing a larger rise in BTC dominance, to as much as 80% of the total crypto market.
Tezos now has a bullish short-term and medium-term trading bias The four-hour time frame shows that large inverted head and shoulders pattern has formed The daily time frame highlights and an even larger bullish pattern Tezos has made major strides this week, with the cryptocurrency rallying to its highest trading level mid-August and gaining well-over […]
The post Tezos Price Analysis XTZ / USD: Breaking Resistances appeared first on Crypto Briefing.
Back in July, when bitcoin price was doing the five-figure rounds, popular YouTube crypto analyst, Alessio Rastani made a daring prediction. As per what he calls the ‘wildcard scenario’ BTC would drop down to the $7500-$8000 support before rallying hard.
Ravencoin is currently bullish over the short-term and bearish over the medium-term The four-hour time shows that a bullish ascending triangle pattern has now formed The RVN / USD pair has been rejected from the neckline of a head and shoulders on the daily time frame Ravencoin has undergone a bearish reversal after rallying to […]
The post Ravencoin Price Analysis RVN / USD: Flight Fatigue appeared first on Crypto Briefing.
Bitcoin has bounced back above the $10,000 level, gaining over $700 since Sunday. Here are three of the main drivers for why the dominant cryptocurrency is rallying right now. Binance & Bitfinex Announce Bitcoin Derivatives While Bitcoin started as a decentralized digital currency meant for peer-to-peer transactions, crypto exchanges reshaped the coin’s flow by handling most of the trading.
Bitcoin price has been rallying throughout 2019, and most believe that the crypto asset is about to embark on its greatest bull run yet. As global economic tensions and uncertainty rise, so does the price of gold and its digital counterpart Bitcoin.
Bitcoin Cash has a bullish short-term bias, with the BCH / USD pair recovering above its 200-period moving average on the four-hour time frame The four-hour time frame shows the presence of a bullish ascending triangle pattern The daily time frame highlights that the BCH / USD pair is still trading above its key 200-day […]
The post Bitcoin Cash Price Analysis BCH / USD: Rallying Cry appeared first on Crypto Briefing.
Popular YouTube securities and crypto analyst, Alessio Rastani has predicted that Bitcoin will drop far below the 21-day EMA before rallying to a new all-time high in 2020. Bulls could be Walking into a Massive Trap Alessio Rastani, a popular securities trader and crypto analyst, believes that confirmation bias is misleading crypto-investors to the extent that the majority of traders will in absolute disbelief when Bitcoin drops below $6,000.
Crypto. com Chain has an increasingly bullish short-term bias against Bitcoin The four-hour time frame shows that a large head and shoulders pattern is taking shape The daily time frame shows that the CRO / BTC pair is trading within a huge descending wedge pattern Fundamental Analysis CRO price is rallying after the project announced that […]
The post Crypto.
Sentiment across the United States pertaining to the crypto market is at an extreme low, despite Bitcoin rallying above $10,000 and kicking off what appeared to be yet another bull run for the bubble-bound crypto asset.
For a while now, Bitcoin (BTC) has seemingly moved with rhyme nor reason. Today, the crypto asset is down 7%, falling off of no clear fundamental event. And just four days, it was rallying by over 10%, pushing ever closer to near its year-to-date high of $14,000.
Bitcoin price is finally taking a much-needed breather, after rallying for five months straight and bringing crypto investors who bought the bottom as much as 300% returns before it was rejected at $14,000 per BTC.
Ever since Bitcoin (BTC) began to rally in April, altcoins fell out of favor with most in the crypto community. No longer were people looking for the next winner, they were instead trying to determine where the leading crypto asset would top out.
The Ripple-promoted token has reversed sharply lower after rallying to a fresh 2019 trading high The four-hour time frame shows that a potential bearish head and shoulders pattern could be forming The daily time frame highlights the absence of any new bullish patterns XRP / USD Short-term price analysis XRP has a neutral short-term trading […]
The post XRP Price Analysis: Ripple-Promoted Token Makes U-Turn appeared first on Crypto Briefing.
OmiseGo has a bullish short-term bias, with the cryptocurrency rallying to a fresh 2019 trading high The four-hour time frame shows the OMG / USD pair has invalidated a bearish pattern The daily time frame time highlights that bulls are attempting a major technical breakout Fundamental Analysis OmiseGo has gained momentum after GO.
ETH Rallies Alongside Bitcoin The crypto community is absolutely euphoric. Both Bitcoin (BTC) and Ethereum (ETH), two of the largest cryptocurrencies, have been rallying over the past few days. Over the past day, according to.
Tuur Demeester threw some cold water on the crypto hot streak in a recent blog. While many were predicting Bitcoin to burst through the $9000 mark, the digital asset has cooled off. Demeester says it’s not necessarily a bad thing for a correction to occur.
Over the past week, EOS has been on an absolute tear, rallying by 40% in seven days’ time as most other crypto assets have stagnated. But why? Well, for months now, Block. one, the Cayman Islands-based company behind the protocol’s development and subsequent public sale, has been touting that something big is coming on June 1st.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
