Many people are wondering about the reasons for the recent rally of Bitcoin. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks. From their calculations, six digital currencies advanced while ninety-four was on the decline. This information is according to what TradingView published in April 2019.Īccording to them also, other cryptocurrencies gained in value while others declined. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. It is no just these few popular coins that have gained in one week. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. Ethereum also gained 18.76 percent increase in its price. The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. The effect of the influx is the soaring prices of the digital coins within seven days. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. Many investors, speculators, and traders are rushing into the number one cryptocurrency Bitcoin like never before. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins.
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