Bitcoin (BTC) recently scaled past $17,000 once again since the first month of 2018.
Arcane Research, a firm that evaluates the digital asset market notes that “Bears are in disbelief.” The firm added that BTC is fast posting its sixth weekly profit. It continued that “it seems like there is nothing stopping bitcoin at the moment.”
As United States shares and European equities experience a downturn of events due to the COVID-19 induced lockdown, an ounce of gold joins the trend by dropping by 0.1% to $1,888.
BTC Surges as Traditional Assets Struggle
As BTC rates surge, the value of shares fall and gold rates drop. It will interest you to know that admist all these, Ethereum (ETH), a viable altcoin is enjoying the turn of events as the Decentralized Finance (DeFi) sector flourishes with favourable projections. It has particularly scaled by 266%, a whopping two times more than the digital gold- BTC.
DASH Flourishes Alongside Other Digital Currencies
Also, the payment focused Dash coin (DASH) which stands at the rate of $81.15 and is also known for its optional privacy feature also appears to be flourishing this season especially because it offers users the option of transacting anonymously or otherwise. In comparison with traditional assets, it appears that crypto assets continue to scale heights.
Investors Turn to Digital Assets As the World Continues to Change
With the paradigm shifting towards digital assets, investors are stashing their hard earned monies into tokens like those mentioned above and also in new Blockchain tokens like dot (DOT), which is run on the Polkadot network. One of the founders of this Blockchain, Gavin Wood, was also one of the founders of the Ethereum Blockchain. He wrote the white paper for this network right after that of Ethereum as far back as 2016. Polkadot continues to be fast growing as the managing Director of KR1, an investment firm- Keld van Schreven notes that:
“The market and investor appetite has been really strong for Polkadot’s dot token,”