The 2019 Bitcoin gains are a hot topic on many best cryptocurrency news sites. For many analysts, it is hard to see where Bitcoin (BTC) is right now in terms of its bullish versus bearish scenario. However, what’s certain is that the most dominant cryptocurrency is ‘in a good mood’ lately as the market approaches a new $181 billion in total capitalization.
One analyst has recently tweeted about the growth of cryptocurrencies this year, reporting the 2019 Bitcoin gains as well as the gains filtered through different categories and details such as oil and other best-performing assets.
Bitcoin $BTC: +39%
Oil $USO: +38%
Nasdaq 100 $QQQ: +22%
S&P 500 $SPY: +17%
Small Caps $IWM: +17%
MLPs $AMLP: +16%
REITs $VNQ: +15%
EM $EEM: +14%
EAFE $EFA: +13%
Commodities $DBC: +12%
High Yield $HYG: +8%
Investment Grade $LQD: +6%
Bonds $AGG: +2%
Gold $GLD: -1%
— Charlie Bilello (@charliebilello) April 19, 2019
As we can see, the initial 20% rally that Bitcoin made in early April when it surged from $4,200 to $5,000 was crucial for changing the sentiment around the crypto market. Investors at the time expected that the market would correct. Instead, the 2019 Bitcoin gains got to be even higher and the market was led by BTC in another bullish scenario.
Over the past few days, Bitcoin has continued to increase in terms of its value and has recently surpassed the $5,300 mark, recording a 32% increase in price within one month. The momentum of BTC had a lot to do with the growing market as well as the rise of Binance Coin (BNB) which is featured in the altcoin news – leading the market today and managed to get to the seventh spot on the most valuable cryptocurrencies on the market.
Even though the latest reports featured in the latest cryptocurrency news show that the 2019 Bitcoin gains have a lot to do with institutional investors turning to crypto, it is more likely that funds that are already in the crypto market in the form of stablecoins, hedge funds and fiat on exchanges would contribute to a larger effect on the short-term performance of the market.
Right now, it is easy to see that the growth of Bitcoin is definitely attributed to the entrance of Binance Chain in the blockchain space, changing the landscape of tokens so far and changing the market interest all around it. It may be too early to predict, but everyone is hoping to see more of the Bitcoin gains in 2019 in the near future.
Bitcoin Trading Surges In South America Despite High Volatility
“Despite the increase, the monthly closing was 15% below the daily maximum of the BRXBT Index in the month of June.’’Over the past few days, the BTC/USD pair declined sharply and hit a new low as $9912 compared with more than $13,000 just a week ago. The most recent data shows there are about $27 billion changing hands on many exchanges worldwide. Within the P2P, Bisq which is a decentralized platform tracked by Coin Dance produced many new records of its own in different jurisdictions in the recent weeks. The success as noted in the coming altcoin news coincided with LocalBitcoins withdrawing the option to arrange cash meetings for the number one cryptocurrency- bitcoin. The data is changing rapidly so it’s better to keep a close eye on the market.
New Crash Of $35 Billion Makes BTC Revisit Four Figures
“And there’s the dump right before the daily close. Typical price action for $BTC near important levels is a pump or dump right before or after the daily/weekly close. This certainly sets up the daily and weekly to close bearish. And will likely focus on shorting any rally,” he said in a tweet.The weekly candle closed heavy and ignited the new crash further. As BTC tested the 50 day moving average which is currently serving as a level of support, all signals are indicating a continuation of this correction. So, Bitcoin visiting the $8,000 region is definitely a possibility - but Rager added that even like this, four figure BTC is a gift.
“Said it once and will say it again, 4 digit Bitcoin is a gift, whether it hits $9ks or even $8ks," he concluded.In the coming altcoin news, we can see that the new crash and Bitcoin retreat has hurt the altcoins even more, with some of them losing as much as 20% of their value.
Trump Banning Bitcoin Could Happen But It Is Unlikely: Economist
“Trump could also go after fiat onramps, by simply forbidding banks to service crypto exchanges, or by requiring banks to not service exchanges unless conditions XYZ are fulfilled (and make that practically impossible).”In reality, however, Trump would need to convince the Congress of the need to ban Bitcoin and lawmakers could overturn his demands - even if they occurred via an executive order or similar emergency measures. So, Trump banning Bitcoin is feasible at this point - but the probability of it becoming law is extremely low, Krueger concluded. https://twitter.com/krugermacro/status/1150638173837516800 Krueger's comments went viral on many best cryptocurrency news sites several days after the mainstream media suggested that Trump had inadvertently made Bitcoin a campaign issue for the upcoming 2020 presidential elections. https://twitter.com/krugermacro/status/1150638180800090112 As Forbes also noted, some of the competing hopefuls (among which Andrew Yang) have long held an opposing view which shows that Bitcoin is in fact something to embraced at national policy levels. Krueger's comments on Trump banning Bitcoin showed thaT US regulators could arguably determine that crypto assets are too volatile to be sold to retail (non-accredited) investors. In the last tweet, Krueger noted that Trump could issue an executive order banning US people from dealing in Bitcoin - and that he has already done so with the Petro cryptocurrency.
Wells Fargo Claims It Won’t Allow Customers To Purchase Bitcoin
“Customers can be better served when they have a relationship with a trusted provider that knows them well, provides reliable guidance, and can serve their full range of financial needs.”As noted in the best cryptocurrency news sites, Wells Fargo banned the purchase of Bitcoin and other crypto assets by using the bank’s credit cards. The company’s spokesperson stated:
“Customers can no longer use their Wells Fargo credit cards to purchase cryptocurrency […] We’re doing this in order to be consistent across the Wells Fargo enterprise due to the multiple risks associated with this volatile investment. This decision is in line with the overall industry.”When Wells Fargo claimed that Bitcoin is risky and volatile, they didn’t look back to the 2008 financial crisis when all of the markets collapsed. As a result, millions lost their homes and jobs and an economic disaster started around the world. The bank was the contributor to one of the world’s largest financial crises but it did receive about 25 billion USD of Emergency Economic Stabilization Act funds and as CBS put it:
“Wells Fargo hit the jackpot. It was one of the first banks to get bailout funds – the biggest amount awarded in a single shot: $25 billion tax dollars.”
Join us on Facebook
- Bitpoint Update Shows Another $2.3 Million Of Crypto Is Missing
- Bitcoin Trading Surges In South America Despite High Volatility
- Iran Revealed The Plan Of Launching Its Own Gold-Backed Cryptocurrency
- ETH Nosedives 15%, Crypto Market Value Drops To $28 Billion
- Tougher Crypto Regime Announced In The UK: The ‘Dirty Money’ Crackdown
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Google Coin To Come As Part Of FANG Goes Crypto: Winklevoss Brothers
Regulation2 days ago
IRS Confirms That It Has Trained Staff For Detecting Crypto Wallets
Uncategorized3 days ago
Bitcoin Searches On Google Increase After Trump’s Bashing Tweet
Blockchain News3 days ago
Visa And VC Firm Are Investing $40 Million In Crypto Security Systems
Blockchain News3 days ago
Japanese Hackers Steal $32 Million In Crypto From Bitpoint Exchange
Altcoin News2 days ago
Crypto Market Remains Vulnerable: More Losses On The Way?
Analysis3 days ago
Ether Is Consolidating The Losses Against Bitcoin
Altcoin News3 days ago
Trump Voices His Opposition To Crypto In A Tweet