The price action of the Bitcoin promises the imminent rise of the digital market
The price of the Bitcoin rose by 44 percent against the US dollar, from $ 3,700 to $ 5,320, making it one of the best-performing assets in the global market alongside oil.In early April, the price of the Bitcoin rose from $ 4,200 to $ 5,000, raising sentiment around the digital market. Investors generally expected a rise in the prices of the British and the rest of the market after a strong bullish move.
In the past few days, Petcquin has continued to increase its prices above $ 5302 to record a 32 percent increase in one month.
The rise of the currency (BINB Coin), the seventh most valuable currency in the market, has led to a rise in the value of the digital market by about $ 70 billion since February.
Since January, in less than four months, the BINB has risen 322 percent against the US dollar, becoming the first digital currency to crash at its highest level since 2017.
Some traders suggested that the rise in the currency of Binance Coin, which arose following the announcement of the expected release of the Balance Chain, may encourage the recovery of alternative digital currencies.
In the past, the rise in the price of Etherium (ETH) to $ 1500 led to an increase in the demand for ERC20 and alternative digital currencies at the height of the rising market in 2017.
"Thinking about whether a rise in the price of BNB could lead to the start of the new digital currency revolution, as ETH has done in the past," said a well-known trader.
Although reports have shown that an unexpectedly large number of institutional investors have invested in the digital market over the past 12 months, the impact of the flow of institutional capital into the digital market remains uncertain.
It is more likely that the funds already in the digital market and the margin on the margin in the form of stable currencies, hedge funds, and currency exchanges will have a greater impact on the short-term performance of the market.
Su Zhu, CEO of Three Arrows Capital, said:
There are an estimated 2 billion dollars in cash lying in the digital funds holds and there are more than two billion dollars or more waiting in the form of stable currencies and another two billion dollars lying on the stock exchanges and a total of 6 billion dollars of cash already exist for the purchase of digital bags Do you imagine we need To the new money to bring the price of Bitcoin to $ 10 thousand?
If current capital in the digital market starts to return due to improved sentiment, the market may be allowed to recover losses last year.
Will Pennes change the overall landscape of alternative digital currencies?
In an exclusive interview with CCN, Bianca said it encourages projects that do not rely on smart contracts to move to the Finance Chain in the near term.
And many projects including Mithril have already moved to the Binance Chain.
Binance explained:
Binance Chain has been created to support the release and exchange of digital assets. Any project can produce new configurations on the Binance Chain. Current configurations that do not rely on smart contracts are called to be migrated to the Binance Chain and to the original exchange platform in Binance DEX and gain benefits from this low-quantum network And higher productivity will inspire more economic freedoms, and the presence of more projects involved in Binance DEX will enhance the long-term vision of peer-to-peer digital currency trading
It is too early to determine whether the entry of the Binance Chain into the high-yielding domain will be sufficient to change the overall landscape of the components, but based on market interest, investors expect Binance to play a key role in justifying the next bullish movement for the market.
You can comment on this topic in the comments section below