What a good day it has been for Bitcoin and crypto so far. Bitcoin is up almost 10% and still climbing. This comes as a welcome development for sure after two weeks of decline and stagnation. Earlier Bitcoin hit a staggering $48,000 representing a significant bounce back. Its Bitcoin's largest one day jump since mid-June.
Some are stating the explanation for the rally is all down to crypto derivatives, which are those financial tools or secondary contracts that get their funding from Bitcoin and other coins. Crytpo derivative exchanges have registered a significant spike in volume, which possible explains the Bitcoin price surge.
Others are also highlighting the comments yesterday from the US Federal Reserve Chair Jerome Powell who stated that the Federal Reserve has no intention of banning cryptocurrencies, which of course comes as welcome news but must be considered in the context of a central bank that has deeply unsavoury views on crypto.
Whatever the reason for the surge this has all had a positive effect on the Alts with Ethereum and Litecoin up nearly 8%. Steem too is up 9% to almost $0.52 which is super spectacular for all of us Steemians. It's been a tough ride lately for Steem but today it's great to see it rally and let's just hope the gains can be locked in so we start establishing some new foundations for a new hike.
I'm certainly glad to see some upward movement after all this sideways-to-down stuff we've been having. It's hard to stay enthusiastic when practically every day is covered in red ink...
It's about time we did indeed start seeing a vertical climb and it has continued to climb hitting $50k today which is great and wonderful to see. Bitcoin's resilience is unceasing, and it doesn't seem to need China either!
Oh! Well, its a new month and I'm exited that crypto has chosen to start off the month this way. Whatever the cause for the sudden jump in price, all I wish for is that it holds and doesn't drift back downward 🙂.
Wishing everyone at Acom a Happy New Month and a successful month ahead.
I'm certainly glad to see some upward movement after all this sideways-to-down stuff we've been having. It's hard to stay enthusiastic when practically every day is covered in red ink...
Have a great weekend!
It's about time we did indeed start seeing a vertical climb and it has continued to climb hitting $50k today which is great and wonderful to see. Bitcoin's resilience is unceasing, and it doesn't seem to need China either!
Good morning @acom I wish you are well, thank God the cryptocurrencies have improved and the steem has been recovering. Happy afternoon
Oh! Well, its a new month and I'm exited that crypto has chosen to start off the month this way. Whatever the cause for the sudden jump in price, all I wish for is that it holds and doesn't drift back downward 🙂.
Wishing everyone at Acom a Happy New Month and a successful month ahead.
Greetings friend @acom
Back to catching our breath as we see the market in green, Steem peeking a good recovery pace while Bitcoin in search of $50K.
We are in good times.
It was a big relief when I saw Bitcoin back at its recovery now I hope it won’t drop but rise 😃