Crypto & Bitcoin News for Traders
If you are a trader, something that you might have been focusing on in the past year is cryptocurrency. Now, for the vast majority of 2019, cryptocurrencies, such as Bitcoin to name one, suffered some huge losses in terms of value, especially in the closing months of the year. Many experts were predicting that Bitcoin, Ripple, Ethereum, and others were all going to tank and become worthless. Well, today we are here to provide you with some crypto and Bitcoin news, some facts that might surprise you.
The fact of the matter here, the most important piece of Bitcoin news that you need to know, is that cryptocurrencies in general have skyrocketed in value over the past several weeks.
Bitcoin, Ethereum, Ripple, and many others have all rallied and increased in value many times over, and all of this in just the past few weeks. The total value of the cryptocurrency market just reached an all-time high, something we will discuss further below. Let’s get right to it and discuss the most important crypto and Bitcoin news that you traders need to be aware of.
Bitcoin News – Cryptocurrency Market Surpasses $1 Trillion Value
Whether this is just a short term trend or not, the fact of the matter is that the cryptocurrency market in general has exploded in value over the past couple of months. What is happening is that investors and retailers alike are once again becoming interested in Bitcoin and altcoins.
Bitcoin increased in value by 25% in January of 2021 alone, with a 300% increase in value since the beginning of 2020. In the past 12 months, Ethereum has risen in value by over 860%. The fact here is that seeing as how the cryptocurrency market just surpassed $1 trillion USD in value, it is once again being regarded as a serious market player.
It’s not just a fringe class of assets anymore. Many experts are even saying how Bitcoin and cryptocurrencies in general are now nearing institution grade ventures.
Moreover, in 2021 alone, which you might recognize as only being seven days at this point, the top ten altcoins have rallied in value by 30%. For all of you traders out there, this means that cryptocurrencies are currently a great thing to be trading and investing in, as values are predicted to continue rising over the coming months.
Bitcoin Surpasses $38,000 in Value
Bitcoin, just yesterday, for the first time ever, reached a total value of $38,146.62. Just to put this into perspective, December of 2020 saw a gain of 50%, with a total gain of 300% in 2020. Moreover, just seven days into 2021, BTC rose by another 25.1%, an increase of over $9,000 in just seven days.
What is interesting to note is that the total value of Bitcoin now sits at $707.9 billion, or in other words, worth more than all but seven companies in the world.
Various world events including the storming of Capitol Hill in the USA have created massive uncertainty in regards to fiat currencies such as the USD, thus causing investors to turn to alternative investments, the main one at this time being Bitcoin and altcoins.
BTC bulls are pushing hard right now, and it’s predicted that Bitcoin could surpass $40,000 per coin within the next few days, and predictions that it will continue to rise, especially in the weeks leading up to the inauguration of the US president-elect, Joe Biden. It would seem to be a great time for investors to look into piling some money into Bitcoin.
Ripple’s XRP Upward Push – Will it Continue?
Something notable in the world of cryptocurrencies that has been unfolding over the past weeks is the story of XRP, the native token of Ripple. What is worth noting is that the exchange rate between the USD and XRP has increased by 40% in the last 24 hours alone. At its lowest in December of 2020, the rate sat at $0.17, with the intraday high now sitting at $0.328.
Now, although XRP has increased in value of the past few days, it also needs to be noted that XRP was actually delisted from many exchanges, which signals a crash of XRP. Experts are fearing that people may begin in investing in XRP once again, although signs show that this increase in value is a so called dead cat bounce, a false spike in value due to an overall increase in interest in the crypto market.
Although the value of XRP has spiked in the last few days, experts are predicting that this is just a momentary phenomenon, with another imminent crash in the near future. In other words, investing in XRP might be Ok for the short term, so for another couple of weeks, but in the long run, most would agree that it is not a safe bet.
Marathon Crypto Mining Market Cap Exceeds $1 Billion
The Las Vegas based company that engages in investments and crypto mining, Marathon, that has been operating since 2016, has just surpassed $1 Billion USD in market value. The shares of this crypto mining company have skyrocketed in value, rising by over 1,700 or $17 per share in the last 12 months.
Due to the rapid increase in value of Bitcoin over the past few months, Marathon has invested in over 90,000 new Bitcoin and altcoin mining machines between October and December of 2021. Marathon also just finished raising over $200 million USD in capital from investors for further expansion.
The combination of Bitcoin’s rally, the multitude of new mining machines, and the raising of new investment capital has allowed Marathon to bounce back from some monumental losses that it suffered in 2018, 2019, and in the early months of 2021. For people looking to buy shares of a publicaly traded company, a company that is profiting big-time through crypto mining, investing in Marathon might be a wise choice.
A Great Crypto Signals Service
One thing that we want to mention here is that if you don’t really know how to trade cryptocurrencies, or don’t know how to trade at all, we recommend checking out Cryptocurrency Mentor Box Pro. This is a very reliable crypto signal service that provides members with up to 12 signals per day. These signals are generated through a variety of reliable methods that produce highly accurate trading signals. These are signals that you can simply copy and paste into your trading platform. It’s an easy way to make money without actually having to know how to trade crypto.
The membership cost of Cryptocurrency Mentor Box Pro is just $299, a cost that you can easily make up for with just a few good crypto trades. For all of you newbie traders or lazy folks who don’t want to spend time trading, this signals service is a great option to consider.
Crypto & Bitcoin News for Traders – Final Thoughts
The bottom line here is that it is a very interesting time for investors interested in crypto. Bitcoin and the crypto market in general is rallying big time, and besides some coins like XRP, the rally is expected to continue. If you want to make some quick profits, putting some money into BTC at this time could be a good bet.