The cryptocurrency rally from back in early February continues. So far, 2019 is turning out to be a good year for investing in the space. Leading April's positive march was Bitcoin, shooting up from around $4,100 to more than $5,300. Since then, Bitcoin has been moving around the $5,200 price level. But it wasn't only Bitcoin. Since April first, Litecoin (LTC) is also marking notable gains of a little bit less than 50 percent. Bitcoin Cash (BCH) is perhaps one of the strongest performers in the top 20 significant cryptocurrencies, gaining around 80 percent since the beginning of the month. The momentum of the market, however, is seemingly waiting for a sign from Bitcoin, which appears to be at a decision point. A rise from here is likely to cause the altcoin season party to continue with full force. However, the high volatility is also raising doubts in traders, causing them to question whether or not the prolonged bear market is over. Meanwhile, another interesting phenomenon was spotted. Major Bitcoin holders in the US tend to migrate to countries with lower taxes, as well as no restrictions on cryptocurrency-related services. Our Weekly Trading Tip: We would like to remind all traders that a cryptocurrency exchange is not a wallet and if you don't have control over your crypto, you don't own it. Before you buy any cryptocurrency, you should make sure that you have checked and looked for supporting wallets. The best option is a hardware wallet. Security and safety measures need to be in place to prevent any loss of your cryptocurrency holdings. |
Market Update: Bitcoin Climbs Above $5K While Altcoins Continue Their Season