ALTCOINS AND THE BITCOIN SURGE

Discussion • 2021/02/17 • ដោយ

Today, Bitcoin hit a new all-time high and passed the $50,000 mark, and we are expecting altcoins to follow suit and go up also. We have Polkadot up by about 12% with the launch of their new road map.

Bitcoin hitting $50,000 is a massive milestone in the crypto space; Polkadot is steadily climbing, and it flipped Cardano also.

Everything else in the top 100 is slightly in the red; there has been some volatility in the crypto space over the past couple of days. Bitcoin breaking that 50 thousand dollar mark is technically breaking mental barriers for people, and we could begin to see Ethereum move towards two thousand dollars very soon. Many altcoins will start to move up also.

It turns out that 5% of Corporate CFO's plan to purchase Bitcoin in 2021. As Bitcoin demand picks up, it will be fair, and it will have something like a snowball effect in the crypto space. The more demand comes to cryptocurrency from Bitcoin retailers and other institutions, the more institutions will be taking a lot of Bitcoin and Ethereum out of circulation. This means that as demands continue to rise, the price will continue to increase also and in the long term.

Polkadot's road map for full launch is the reason why the price is appreciating, and Polkadot looks like it will hit an all-time high very soon. There is now a clear path to using Polkadot, but there may be delays. Polkadot is getting towards 32 dollars, and it was not so long ago that it broke the 10 dollar mark.

Many crypto investors believe that the current bull run is different from that of late 2017.

In 2017, we had a rush of retail demand; we did not have any institutions at that time. It was all retail demand picking up at once, and the bubble popped because at that time, Bitcoin transactions began to take over four hours.

The ICO scams were really screwing people over; there was a lot of bad news. But all that is different now; we are steadily growing because we have a major inflation coming up.

XRP is crashing, and because Pretrial settlement is not in the cards in the SEC versus Ripple case, XRP went down as low as 12 percent earlier. XRP has had it the hardest over the last couple of months, it was over 60 cents before the market started picking up.