Why Bitcoin Stagnance From Vaccine Hopes is Suddenly Causing an Altcoin Boom
Bitcoin has settled into a consolidation range following its significant climb since the start of October. However, increasing sell pressure has many analysts calling for a sharp correction in the near term if $15k fails to hold. Currently, the price of Bitcoin is down 1% in the last 24-hours to $15.3k. Source: BTCUSDT on TradingView.com […]
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Bitcoin rose Monday, putting itself back on track to retest its record high after promising results on a coronavirus vaccine reinforced hopes of an economic rebound next year. The spot BTC/USD exchange rate climbed 0.95 percent after the benchmark cryptocurrency briefly snapped its six-week winning streak on Sunday. The pair touched an intraday high of […]
This morning, news broke that Cambridge, Massachusetts-based biotech firm Moderna, had reached 94.5% efficiency in preventing the onset of COVID with their in-the-works vaccine. Bitcoin responded with a rally, but the last time around when Pfizer revealed their success rate, the cryptocurrency plummeted by over $1,000. With the likelihood of an effective vaccine growing, and […]
A vaccine merely triggers inflation, allowing more institutions/investors to exchange their cash holdings for the cryptocurrency.
Crypto analyst Daan Crypto has provided an analysis of the rising Bitcoin dominance, explaining why this will likely continue to surge. Based on his analysis, the altcoin season is unlikely to come anytime soon, with many alts suffering significant selling pressure while BTC accumulation increases. Bitcoin Dominance Surge Dashes Hopes Of Altcoin Season In an X post, Daan Crypto stated that the Bitcoin Dominance shows no signs of stopping following the latest surge above 64%. He indicated that the dominance will only continue to rise as more treasury companies try to accumulate Bitcoin.....
As Ethereum continues its unstoppable 400% surge and Solana and XRP make waves, crypto enthusiasts are already hunting for the next parabolic opportunity. Enter Pawfury (PAW), the breakout altcoin that’s causing a bullish frenzy in the crypto community. Experts are eyeing Pawfury as the potential next-gen golden star for 2024, with many predicting it could […]