Crypto Price Analysis – Jan. 14, 2020 – The volatile cryptocurrency market is up big today. Everything is green, with some of the biggest names leaving the way. Bitcoin (BTC), for instance is up a little over 5% with Bitcoin SV (BSV) leading the way with 25% gain.
Why Bitcoin and altcoins prices suddenly surging?
Conflicts between the US and Iran have been widely credit as the market main mover. However, there are a few more events that should be factored in. CME Bitcoin futures, for example, has experienced increased activities over the pass few days. Interest in interest CMEBT is extremely high.
Some other important events to consider as a bitcoin price movers are upcoming presidential elections, bitcoin’s record breaking network hash rate, and the recent BTC signal released recently by Hash Ribbons; just to name a few. All those can be credit with today’s bitcoin and altcoins price surges.
Also, we have to take into account the bullish attitudes toward the market. Even Bloomberg joins the Bitcoin price predictions game when one of its top financial analyst, Mike McGlone spoke on the unstoppable and impending adoption of Bitcoin in 2020.
Today’s crypto price analysis – biggest gainers
BSV/USD – Updated – 95.23% gain!
Bitcoin SV leads the surge right now with 25.55% gain. The Bitcoin fork, currently trading at $202.21, has been going parabolic over the last few days. However, some in the crypto community believes it’s an exit scam.
ZCash followers with 20.35% gain, with a 24-hour high of $42.20. On January 10, ZCash (ZEC), the privacy-centric coin, announced its Protocol Hangout will take place on Jan. 21, 2020
Dash‘s price surged on January 6 after the crypto processing firm, Cryptobuyer announced a partnership with Venezuela Burger King stores to accept cryptocurrencies as payments. The gain lasted a couple of days.
This current surge, we believe, is the affect of a bitcoin surge ‘lifting all boats.”
Bitcoin Gold investors are the beneficiaries the bitcoin folk’s 20.28% increase in price.
Finally, we have Bitcoin. BTC has been bullish all day long. with an $8,532.80 price tag, Bitcoin is trading up 5.06%.
There are not direct or absolute indicators as to why bitcoin’s and altcoins’ price suddenly surging so high, but we hope to write crypto price analysis such as this one on a daily
What are your thoughts on the crypto market’s sudden surge? Please use the comment form below to chip in.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.