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Is it the time to invest in Bitcoin as there’s rout in global stock markets?

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Is the market selling over yet? While Bitcoin alongside the rest of crypto market has stayed stable, the S&P 500 suffered a 10% correction which translates to be the worst month since 2018 when the stock market crashed terribly. The question asked is whether the almost decade-long finance bull market is at risk.

Perhaps, there’s no immediate trigger directly related to sell-off yet, but possibly the trade war between the US and China as well as the increase in Fed rates might have been behind the market turmoil. The current rout in global stocks might be a way the markets are telling the Federal Reserves that they are on the wrong course.

Some folks have their belief that the stock market crash has a lot to do with the upcoming US midterm elections.

Plus for Bitcoin and cryptocurrency markets in general?

The last time the global stocks crashed, investors had a shift to protect their money by investing in precious metals like gold and silver. But, that was back in 2008 when cryptocurrencies had not busted into the scene.

Almost a decade later, merely we may have a similar scenario in the stock market, and it seems like the crash has no impact on the cryptocurrencies, and hence, no signs of an inverse correlation. It implies that, just like gold and other precious metals, Bitcoin and the crypto market value, in general, depends solely on the supply and demand that’s within the market and is not affected by the global economic performance.

Therefore, it means that most individuals may seek to buy crypto coins-and since Bitcoin is dominating the market, it will significantly benefit. It is, therefore, expected that Bitcoin would do well during this kind of instances. One thing the shifting investors should be aware of is that the price of Bitcoin “always” keeps on fluctuating not like a mere 12% drop (it has become less-volatile in recent times though).

But predicting the price of Bitcoin in the future or the entire crypto market is not easy. And if someone is claiming to know the BTC price in the next ten years, is a liar. Sorry, but it’s the truth. But one thing is for sure, cryptocurrencies and the blockchain technology are the future, and it’s predicted that there might be an increase in the crypto market to $20 trillion in the next ten years.

If the stocks fall, we may be in for a good run in the crypto market as there could be a spike in investors turning to Bitcoin and other cryptocurrencies. Currently, there is no denying that big profits can be made from buying and selling of Bitcoin, but we can’t deny the fact that losses can also be in the waiting.

As it looks, indeed, as the stock market is falling, only the crypto market seems to be the best option to follow and buying Bitcoin at a time like now would sound to be a wise investment decision.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Vjkombajn/Pixabay

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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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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