New Bitcoin Related Surge Detected In (altcoins) And BTCS Digital Assets.
BTCS, digital asset and blockchain technology, is fast becoming a publicly-traded favorite. As prices for bitcoin retreat from their recent highs, the strong performance of other cryptocurrencies indicates that investors are turning to alternative coins (altcoins) particularly those from the decentralized finance (DeFi) subsector and Bitcoin-related stocks such as (BTCS) for potentially high returns.
Research shows that as of Jan. 11, prices for both bitcoin (BTC, -1.03%) and ether (ETH, -2.64%) were about 87% and 78% of their all-time highs. Yet, other cryptocurrency assets were, and still are, far from their highest prices on record. One possible implication is that altcoins and bitcoin-related stocks still have the potential to reach higher price levels amid the latest bitcoin’s bull run.
We are seeing altcoins especially from the (DeFi) subsector and other Digital assets Services run up both before and after Monday’s correction in ways that we have not seen since 2018.
Bitcoin’s market capitalization was recently at record highs through January 8, 2021. Looking at the charts today, there is evidence that suggests some traders are taking pockets of profits from bitcoin and surging them into altcoins, in particular, Multiple DeFi tokens which saw double-digit gains, including 0x (ZRX), aave (AAVE).
Recent interest from Investors in BTCS is another bitcoin-related surge all by itself, BTCS, bitcoin digital assets (BTCS) has seen a whopping 3X gains this week.
BTCS is one of the first U.S. publicly traded companies that focused on digital assets and blockchain technologies. BTCS acquires Digital Assets to provide investors with (indirect ownership) of Digital Assets that are not securities, such as bitcoin and ether.
BTCS climbed from $0.45 cents a share this week to $1.71 as of today 01–13–2021. BTCS prices are currently at their 2018 ranges with quite a bit of upside potential from here. For example, BTCS stocks traded in a price range of $246 a share in 2016.
Some of the recent action on BTCS this week may be due to their recent PR that was released 6 days ago regarding BTCS Management Investing $1.1 Million into the Company and that BTCS Reported a 1,327% Year-Over-Year Gain in Digital Assets.
The strong foundation we have built and our unwavering commitment to the disruptive potential of digital assets over the last seven years has placed us in a great position to capitalize on the many opportunities ahead, This investment changes that dynamic and ensures management has skin in the game to take the Company to the next level, commented Michal Handerhan, COO of BTCS
The recent press release suggests BTCS Management investments represent a significant financial commitment and their belief in the success of BTCS.
(Author’s note: Always conduct your own thorough due diligence before electing to invest.)
