The Bitcoin has been surging ahead and has been one of the clear leaders among the crypto assets. This was evident and expected with the rising hash rate during the last days of March. In fact, it touched the highest ever mark in April first week and achieved the best peak ever since November 2018. In fact, the currency has grown by over 13 percent on April 2, 2019, and even crossed the $ 5000 mark in some exchanges.
Surging Bitcoin prices a good sign?
People and sites dealing in crypto and Bitcoin news were skeptical at the beginning about the surging bitcoin pricing and attributed it to the errors in algorithms and something that has to do with the April prank. However, looking further into the concept later changed the outlook for better and brought to the fore the best effects that can be witnessed soon.
In fact, Bitcoin is a crypto reserve currency and that is exactly what should assist other cryptocurrencies in raising ahead in comparison. Among the four primary cryptocurrencies, Bitcoin has been one of the most searched ones and that is exactly what should make it a great choice for your trading needs. This goes to prove that Bitcoin is linked to the cryptocurrencies in one way or another to the other crypto assets.
The confidence shown in one of the largest cryptocurrencies can definitely be seen as the best option to get it ahead with respect to the other crypto assets as well.
We see the following positives being seen in the direction of the improvement. The bitcoin currency has a high market cap and better transaction volumes as well. This should ideally translate into a good improvement option for the other crypto coins as well. However, based on the micro level, you may also experience a higher price change affecting the other currencies in an inverse direction. Thus, while the increasing bitcoin pricing can be a piece of positive news for the other crypto assets, it can also be a reason for the exact opposite reactions.
Ideally, a high tide raises all the ships, as they say. This should hold good for the relation between Bitcoin and other cryptocurrencies.
Well, we would expect the improvement in the realm of the pricing scenario in the days to come. The enhancement should be visible for the other crypto assets in the days ahead quite soon. Until that happens, make sure that you are holding on to the bandwagon and reap the benefits.