RATE Group | Bitcoin bulls claw back ground above $7,200, altcoins follow the lead
86505
post-template-default,single,single-post,postid-86505,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin bulls claw back ground above $7,200, altcoins follow the lead

23 Apr Bitcoin bulls claw back ground above $7,200, altcoins follow the lead

Posted at 14:26h in Cryptocurrency News by

  • Bitcoin needs to confirm its safe-haven status.
  • BTC/USD recovery may gain traction if the move above $7,200 is sustained.

The head of Asian business at the cryptocurrency platform Luno, Vijay Ayyar, believes that the next months are going to be interesting for Bitcoin and cryptocurrency market as a whole. First of all, we should pay attention to Bitcoin’s correlation to gold as it is a key factor that will help to add value to the safe haven narrative for Bitcoin.

From the long-term point of view, the current situation may have profound consequences for cryptocurrencies however, they will play out within the next few years. Vijay Ayyar believes that the lack of yield in other asset classes may attract institutional investors’ cryptocurrencies and Bitcoin in particular.

Top-3 coins overview

BTC/USD used daily SMA50 as a jumping-off ground and moved above $7,200. If it manages to hold the ground, the upside momentum may gain traction with the next focus on…

Source link

Tags:
, , , , , , ,