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Bitcoin Gold Surges Past The $300 Mark Once Again

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The past two weeks have been characterized by a lot of volatility for Bitcoin cash with prices recently hitting highs above $17,000 and it looks like the gains in the cryptocurrency have also trickled down to Bitcoin Gold.

The price of Bitcoin Gold surged past the $250 mark on Monday, and it reached $254.79 marking an 11 percent rise within a 24-hour period. In fact, the price has been rising steadily since then and was at $317 at the time this piece was compiled. This is good news considering that the currency had previously been on a decline for the past 7 days, dropping from $326 to $200. The decline was rather surprising considering that it is a spinoff of Bitcoin Cash that is in the altcoin category.

Bitcoin Gold Chart courtesy of coinmarketcap.com

The recent surge demonstrated by Bitcoin Gold highlights the fact that the currency has not favored an uptrend as steep as Bitcoin cash itself. The altcoin had initially been hyped up a lot but then it was characterized by a sharp decline. However, it now seems to be making a recovery courtesy of the surge within the last few days. However, it still has a long way to go before the price can reach the previous high or even go beyond that.

The massive surge in bitcoin cash value over the past few days has been quite impressive and it seems that other cryptocurrencies are also following the same trend. The recovery of Bitcoin Gold might be influenced by the huge uptrend seen in Bitcoin Gold just as is the case with most of the other Altcoins. This, however, raises the question of how the altcoin will perform on itself for example if the price of Bitcoin Cash tumbles or achieves goes flat. This is especially considering that Bitcoin Gold does not have any unique aspects or special use that can set it apart from other altcoins in the market.

The altcoin also happens to be miles behind Bitcoin Cash whose current value is multiple times higher. Bitcoin cash is however among the top ten most valuable cryptocurrencies and it has recently been boasting of a significant trading volume more than $240 million.

Unfortunately, Bitcoin Gold is currently not very strong and is subject to sharp declines every time it shows even the slightest evidence of price weakness. This is because supply and demand have a significant influence on the performance of cryptocurrencies. Altcoins specifically tend to be very fragile as far as value is concerned. It is also important to keep in mind that cryptocurrencies are not influenced by the same forces that affect regular markets.

Cryptocurrencies as a whole remain difficult to predict and thus there is a lot of uncertainty about the future performance of cryptocurrencies in general.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Marco Verch via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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