🚀 June’s AI-picked stocks soar, with Adobe +18.1% in 11 days. Don’t miss July’s upcoming picks.Unlock full list

Crypto Market Follows Stocks Higher

Published 04/06/2020, 08:04 AM
Updated 03/21/2024, 07:45 AM
BTC/USD
-
XRP/USD
-
BCH/USD
-
NEO/USD
-
ETH/USD
-
EOS/USD
-
LTC/USD
-
BNB/USD
-
XLM/USD
-
DASH/USD
-
ZEC/USD
-
XMR/USD
-
WAVES/USD
-

Bitcoin and the overall crypto market started the week on a positive note. In the last 24 hours, the benchmark cryptocurrency has added almost 4% and managed to exceed $7K. Along with the price, the growth of trading volumes is also noticeable, which further strengthens the upward momentum for the coin. The bitcoin dominance index remained close to 65% during the week. The RSI shows growth along with the price, but it is still in a neutral area from which it can quickly turn down. Since mid-March, the Bitcoin Crypto Fear & Greed Index remained in the “extreme fear” area.
Total Market Cap
If you take weekly values, then the picture is even more optimistic. Bitcoin climbed by more than 12% in the last seven days.

The altcoin market is keeping pace with the major coin. The leading altcoin Ethereum (ETH) rises more than 4% per day and trades around $150. During the week, Ethereum climbed by more than 14%. XRP +8%, Bitcoin Cash (BCH) +12%, Litecoin (LTC) +9%, EOS +12%, Binance Coin (BNB) +17%, Monero (XMR) +20%, Stellar (XLM) +16%, DASH +8%, NEO +13%, ZCash (ZEC) +20%, WAVES +17%.

Probably, the purchases follow the signs of improving sentiment in the stock markets. As soon as risk assets start to attract demand actively, institutional investors may also increase their positions in the cryptocurrency.
Bitcoin
Economic stimulus policies are undermining the value of national currencies. Besides, the planet is facing an entirely new reality, where everything with the “digital” prefix now has an additional chance for growth After the Spanish flu, the world had higher levels of the hygiene.

The result of coronavirus may be the growth of human life digitalization, as well as integration in new areas of those people who did not think about the imminent moral obsolescence of his profession.

The FxPro Analyst Team

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.