Most Cryptocurrencies with Double Digit Gains

Interestingly, cryptocurrencies have risen in value as geopolitical events have escalated and Gold has flourished short term.

Consolidation has not Proven Friendly for Speculators Past 3 Months

Consolidation has not proven to be a friend for speculators the past three months in digital assets. The broad crypto marketplace remains bullish but this does not diminish a steady parade of downward thrusts which has taken most major digital assets back to their November 2017 values. Today, cryptocurrencies have formed the first positive double-digit during the last month. Ethereum gained 10%, to trade at $462, Ripple at $0.56, +14.46%, Dash at $341.52, +13.06%

Bitcoin Surges 12% in a Sudden Move

Bitcoin continues to face severe headwinds although the most popular cryptocurrency gained 11.25% on Thursday in a sudden move according to Coinbase trading at 7700.00 per coin. Bitcoin remains above 7500.00 at the time of writing.

Cryptocurrencies Proving to be a Risk Adverse Asset in Short Term

From a traders perspective, this week’s results in digital assets may be providing a correlation and food for thought. As geopolitical risks have escalated between Russia and the U.S regarding the Syrian conflict, cryptocurrencies have gained – while their counterpart in the world of risk adverse assets – Gold – has seen a frenzy of buying activity and it testing mid-term highs.

Blockchain Event in Chicago Next Week including Chicago Merc Exchange                                                                       

Distributed Markets will conduct workshops and other events from April the 20^th through the 23^rd, participants will include the CME, Ripple and other major digital asset players.

• April 20^th – 23^rd, U.S, Distributed Markets Workshops & Event Chicago

Yaron Mazor is a senior analyst at SuperTraderTV.

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