Cryptocurrencies propelled Monday. It’s interesting to see that the digital currencies have flourished in the current geo-political conditions and gold has risen in the short term.
For the past three months, the consolidation has been driving investors away
Consolidation has not proven too useful for the investors in the past three months in digital instruments. While major cryptocurrencies remain stable, this does not take away from the steady downward movement which has resulted in majority of digital instruments being back to their Nov 17 values. At the present, the digital currencies have reached their first double digits during the last month. Ethereum is at $490 (up by 16%), Ripple at $0.56 (up by 14.46%) and Dash at $341.52 (up by 13.06%)
Bitcoin takes a leap of 14% in a steep move
Though Bitcoin is still not in the clear completely, the market favorite has surged up by 14.25% on Thursday in a sudden wild rally, and now stands at 8100.00 per coin. It continues to stay above $8100.00 at the time of writing according to data provided by Bitfinex.
Digital Currencies turning out to be a Risk Adverse Asset in Short Term.
In the midst of geopolitical risks between Russia and America over Syria, the digital assets have gone up, while gold has gone through a fury of buying and is examining mid-term highs.