Are crypto prices moving into positive territory?
Crypto market seems to be flashing green lately with Bitcoin price being up and many altcoins breaking weekly highs. There are a few reasons behind the surge in these values.
Given these uncertain times, the fear of fiat inflation is driving people to put more trust in cryptocurrencies. In the past few weeks, governments across the globe started putting forward hefty financial aid and stimulus programs designed to fight increasing unemployment and economic recession.
However, these good intentions of the politicians were strongly criticized by the experts who claim that such measures were only to inflict much more financial distress along the way. According to the analysts, the U.S. Federal Reserve's decision to print $2 Trillion will ultimately devalue the Dollar.
Respectively, a large number of investors are moving their assets into cryptocurrencies, which only adds to the assumption that during this financial distress people are putting their faith in Bitcoin and other altcoins due to their fixed supply.
Due to ongoing concerns for job cutoffs related to the rising economic adversities, crypto investors went on a rally to acquire quick cash by liquidating millions of dollars worth of their property. And apparently, this sell-off made plenty of room for deals across the blockchain space.
There has never been much doubt that 2020 would be a solid year for Bitcoin. Even before the COVID-19 crisis when the crypto market recovery was thriving, the block reward halving pledged to drive prices yet higher. And the experts in the field are predicting a rather prosperous end of the year for the flagship cryptocurrency.
In fact, other cryptocurrencies, like Ethereum, are looking strong also. Even the real-world applications of lesser altcoins such as Chainlink, VeChain, and Stellar have rocketed significantly, of which the investors will most certainly take notice.