Bitcoin continues to rise Leading the crypto market
The price of Bitcoin (BTC) and some of the main digital currencies has continued to increase progressively over the days, living what appears to be a recovery period with respect to the fall seen a few weeks ago.
After having been around $ 9,400 for Bitcoin just 4 days ago, the cryptocurrency is going through a new period of accelerated price increases, reaching $ 10,800 today, and expecting it to arrive and exceed 11,000 dollars soon.
In this regard, the market research company dedicated to digital assets, Delphi Digital, considers that all the factors are given so that the price of Bitcoin is triggered, as Forbes explains in an article on August 1.
Among these factors, what Delphi considers most relevant are the signals of the Central Banks preparing the markets for interest rate cuts, and other additional stimulus measures to counteract the harmful effects of the US-China Trade War. about global growth.
This generates in the economic actors fear before a depreciation of the currencies due to the expansive measures of the central banks, looking for an asset that serves as a reserve to the value of their capital. Bitcoin demand, with its main narrative focused on its function as a reserve of value, would increase for this reason by driving prices.
“The increasing risk of a devaluation of currencies, especially among reserve currencies, is a long-term catalyst that can boost the price of the BTC along with that of gold,” says Delphi’s report.
In this way, Bitcoin would be directly competing with gold as a reserve asset par excellence, offering a higher return than precious metal, which is very attractive to many investors, as Delphi tells us:
“The relative size of the Bitcoin market value compared to the gold market, for example, makes it a tempting opportunity for investors starving to death with a growth potential above average.”
Delphi’s analysis coincides with that of many crypto influencers such as Anthony Pompliano, companies such as Pantera Capital, and even commercial bank executives as a head of credit strategy at Deutsche Bank, for whom Bitcoin will experience a bullish rally in the short term due to The money market situation.
In a time of global uncertainty, cryptocurrencies, and especially the BTC, rise as a refuge that investors around the world trust.
Among the digital currencies that registered increases in their prices we have Bitcoin Cash (BCH), Monero (XMR), LEO and Cosmos (ATOM) with increases of more than 2%, so today they reach a value equivalent to about USD $ 336 / USD $ 86 / USD $ 1.32 and USD $ 3.76 respectively.
The biggest surprise of the day in terms of earnings is Chainlink (LINK), a currency that is currently quoted at USD $ 2.66 representing an increase of more than 22% compared to yesterday.
On the other hand, among the digital currencies that experienced a fall are Litecoin (LTC), Binance Coin (BNB), IOTA and Tezos (XTZ), with losses of at least 2% in the last 24 hours, registering prices of USD $ 95, 6 / USD $ 27.9 / USD $ 0.28 and USD $ 1.44 respectively.
The rest of the reputed currencies experienced very small fluctuations for or against, maintaining prices very similar to those seen yesterday.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.