Bitcoin and alt-coins Signals are all up again|  highest level this year

Signals we get from Bitcoin is closing out the month near $8,500— a more than 60% rally from where it was trading May 1. The world’s largest cryptocurrency is recovering from a dismal 2018 where it fell more than 73 percent. Analysts say the May rally was partially driven by bitcoin’s use-case as a hedge against trade tensions and a falling Yuan.

  • Bitcoin nearing the $9,000+ price level.
  • The digital asset marks its highest dollar-denominated value since May 11, 2018.
  • Other cryptocurrencies, including ethereum, are also sharply higher.

CNBC reports that “There has been an increase in major companies experimenting or bringing out cryptocurrency-related products. For example, Taiwanese phone maker HTC released a phone focused on helping people store their digital coins, while Facebook is reportedly working on its own cryptocurrency. Fidelity, meanwhile, launched a new company to help institutional investors trade bitcoin. Other cryptocurrencies were also higher on Monday. Ethereum, the second largest digital coin by value, was up over 7% from the day before at around 9:50 a.m. HK/SIN. Bitcoin is still well off its all-time high of over $19,000 in late 2017 when a buying frenzy from retail investors sent cryptocurrency prices soaring. Brian Kelly, founder and CEO of BKCM, also pointed out that Asia “was quiet for a long time, but it appears there is appetite for bitcoin again.“Investors are also anticipating demand from Fidelity and TD Ameritrade, he said in an interview with MSNBC.”

Fidelity’s cryptocurrency platform Fidelity Digital Assets will reportedly offer trading for institutional customers a matter of weeks, according to Bloomberg. Fidelity told CNBC in March that it has quietly rolled out its cryptocurrency custody and trade execution operations. In the past few months it has been up and running with institutional investors like hedge funds and family offices, according to its top executive Tom Jessop. Robinhood, Square and E-Trade Financial are also offering crypto buying to retail investors.

Bitcoin, the big winner this month in all financial markets, soaring  60%+

Winklevoss twins & the crypto world

Categories: Blog, cryptocurrency, Gaming News, Technology

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Mohsen Daemi
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