Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Bombastic Bitcoin Price Nears $7,000 in Big Parabolic Rally, is $8,000 Next?

By CCN: The bitcoin price has climbed to $6,964 on the day’s peak in major markets like the U.S., recording a staggering 9 percent rise within 24 hours, bringing its one month gain to 23 percent and fueling the crypto market.

Traders were initially cautious about the near-term price trend of bitcoin as large resistance served as a potential roadblock for the asset to continue its upward momentum.

The bitcoin price has recorded a 9 percent gain in the past 24 hours (source: coinmarketcap.com)

The bitcoin price comfortably broke out of the $6,000 level, climbing to September 2018 levels at nearly $7,000.

What’s Next For Bitcoin?

Year-to-date, bitcoin has gained more than 84 percent, outperforming most traditional asset classes and commodities.

On Thursday, Adaptive Capital head of research David Puell stated that the bitcoin price has moved from a parabolic stage to vertical, raising the possibility of the bitcoin price rising from $6,300 to over $7,000.

“Price is not only parabolic, but vertical now. Shorts are still far from getting fully squeezed. $6.4k may activate longs from late trend traders, setting up the perfect blow-off to,” Puell said.

Following the break out of bitcoin over $6,000 and the substantial increase in its price on the day, global markets analyst Alex Krüger ‏said that bitcoin is now in a bull market territory, with resistance found at $7,000 and $8,000.

A potential entry into the $7,000 to $8,000 range, which would allow bitcoin to recover to July 2018 levels, would require a strong stimulus to further fuel the momentum of the dominant cryptocurrency.

The valuation of the crypto market increased by more than $10 billion on the day (source: coinmarketcap.com)

“BTC now in bull market territory after an intraday blow-off top. R: 7000, 8000 S: 6400, 6000 Old levels not as valuable, hence why above 6400 only looking at round numbers as major resistance. Hourly volume at Bitmex was the 2nd largest ever after Sep/5/18,” he said.

One possible catalyst of the bitcoin price in the near-term is a potential short squeeze that could lead the liquidation of short contracts to add to the momentum of BTC.

Willy Woo, the founder of WooBull.com, explained the process in which a short squeeze occurs, mostly when a chain reaction of liquidation leads the price of the asset to experience a vertical movement.

He noted:

All this happens without any on-chain activity. As it’s an exchange driven game, no real investors are buying into the rally. Get the popcorn out, let’s see if the squeeze completes…. Look for the Bitfinex shorts (red line to drop) and the BitMEX funding rate to go positive.

Although the bitcoin price has already recorded a large gain since early May, a short squeeze could still allow the asset to test the $7,000 to $8,000 range, which most technical analysts dismissed prior to the asset’s clean break out of $6,000.

Fundamental Factors

On the fundamental side, Barry Silbert, the founder and CEO of Digital Currency Group, said that the trading volume of the Bitcoin Investment Trust (GBTC) surpassed $50 million on Friday, becoming the most actively traded stock on OTC Markets.

GBTC is primarily utilized by accredited investors to invest in bitcoin in a transparent and regulated environment.

The steady inflow of institutional capital in the past 12 months as seen in the 2018 annual report of Grayscale and the newly released survey of Fidelity suggests that a growing number of accredited and institutional investors are committing to the market.

“According to the survey, about 22% of institutional investors already have some exposure to digital assets, with most investments having been made within the past three years. Four in ten respondents say they are open to future investments in digital assets over the next five years,” the report of Fidelity Digital Assets read.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

ICO-Funded Decentralized Crypto Exchange Caught Plagiarizing Whitepaper

By CCN: Some on Bitcointalk have concluded that decentralized crypto exchange Localcoin is a scam because they’ve conclusively found that their whitepaper was plagiarized. This hasn’t stopped projects in the past. In a post last month, user ICOEthics raised the alarm and published his findings.

Everyone Points the Finger at Each Other

A Localcoin representative responded that the company had outsourced their whitepaper. The intent was to explain the derivation of the plagiarism, but it opened a new can of worms. The contractor says that the original whitepaper materials were furnished to them by Localcoin – meaning that Localcoin did the plagiarism.

In a follow-up post, the Localcoin representative posted screenshots of his latest conversation with the apparent author of the whitepaper.

An allegation emerges that Localcoin owes some marketers around $15-17,000.

CCN attempted to contact the apparent whitepaper author, Dexter, but while he read our request for comment, he chose not to respond.

Localcoin's apparent whitepaper author didn't feel like commenting.Localcoin's apparent whitepaper author didn't feel like commenting.

Localcoin’s apparent whitepaper author didn’t feel like commenting. Source: Telegram

The questions raised throughout the thread go much deeper than simple plagiarism though. We have to wonder why this project is worth anything if the majority of it is outsourced. Localcoin is an apparent fork of Bitshares and a reboot of a previous attempt at Localcoin.

We’re going to leave out judgement on who was plagiarizing who, or what the real story is here. We reach the same conclusion as one poster on the topic:

“So, we do point the finger to the plagiarized whitepaper owners. We opened this thread so you can discuss and provide evidence to your public and investors and try to convince them that it is not “your fault” and you are “not responsible” for that plagiarized whitepaper. If you wrote or someone else wrote the whitepaper for you, in the end, your company/project is the only one responsible for everything.”

Real Decentralized Exchanges Are Needed More Than Ever

What’s really at issue with the Localcoin fiasco is the desperate need for reliable decentralized exchanges, and the fact that it is apparently not going to be one. There is some speculation, based on the following screen capture, that the entire project may actually be just one guy.

It's possible that the project is just one person who outsourced everything. It's possible that the project is just one person who outsourced everything.

Is Localcoin really operated by just one guy, Fluke Hawkins, who outsourced everything? Source: Bitcointalk

The Binance hack demonstrates more than ever that decentralized exchanges are a necessary evolution, even if some very smart people feel that it won’t be enough. Decentralized exchanges at least take the stupid out of it. For hacks of similar size to happen, numerous participants will have to be doing it wrong.

But decentralized exchanges will need to be easy. They will need to be secure at the user level, and operated on secure devices.

The Localcoin solution might almost be there. It offers much more than just trading. Here’s what the application looks like:

The ambitious project could have changed the way people trade. If only it could be trusted.The ambitious project could have changed the way people trade. If only it could be trusted.

The ambitious project could have changed the way people trade. If only it could be trusted. Source: Localcoin App

You Could Have Been a Legend, but You Became a Failure

Unfortunately, as you can see, the order books are largely empty. Interest in the project has declined and increasingly, chatter around it falls strictly into two categories: discussion about the nature of the promoters, and the promoters themselves.

The Localcoin token plays some kind of role in token launches on the Localcoin platform.

A bad seed doesn’t grow good fruit. If you can’t trust that the code, the ideas expressed in the whitepaper, and so on, are original, is there anything about the project you can trust?

The timing couldn’t be worse for an upstart decentralized exchange. The industry desperately wants a serious competitor to the centralized monsters.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.

Amazing! Bitcoin Is 2019s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally.

Bitcoin Outperforms Other Assets by a Huge Margin

It may come as a shock to you but bitcoin is way ahead of any asset in terms of this year’s returns. As of this writing, it is up by more than 67% on Coinbase year-to-date. Coming in at No. 2 is oil (USOIL), up by 38.35%. The other investable assets in the green this year are the Nasdaq 100 (through the QQQ ETF), small caps (through the IWM ETF), and S&P 500 (through the SPY ETF). These investment vehicles are up by 22.25%, 18.17%, and 16.54% percent, respectively. On the other hand, gold (GLD), which is considered as a safe store of value, is down by 0.12%.

Bitcoin’s recovery comes at a time when global markets appear to be in turmoil. The uncertainty is further intensified as China threatens to come up with severe retaliatory measures in response to the significant tariff bump by the White House. Fundstrat Co-Founder Thomas Lee recently took to Twitter to show how BTC is unaffected by these developments. He applauded the rise of bitcoin in spite of tense global market conditions:

Even more impressive, bitcoin is not just buckling under the sharp declines of global markets. The cryptocurrency also appears to be shrugging off bad developments within the crypto community. Crypto-enthusiast Alex Kruger was able to notice this pattern.

Bitcoin is still rising even after three negative developments. It appears to be in the midst of a massive disbelief rally. An in-depth analysis shows that this digital currency has more gas left in the tank.

Bitcoin Targeting $7,800 in the Near Term

Bitcoin looks to mock the shorters and the non-believers as the cryptocurrency continues to push higher despite overheated technical signals. Daily volume and RSI may be flashing bearish divergences yet bitcoin remains strong. It is now threatening to breach heavy resistance of $6,200 on Coinbase.

Bitcoin/US Dollar chartBitcoin/US Dollar chart

Bitcoin on the up and up regardless of bearish signals | Source: TradingView

Nevertheless, bulls have the pending golden cross between the 100-day moving average (MA) and the 200-day MA on their side. A confirmed cross can be the technical catalyst that keeps BTC above $6,200. Above this resistance, the next logical target is $7,800.

Bottom Line

Bitcoin is 2019’s top performing asset, significantly edging traditional assets like oil, the Nasdaq, and the S&P 500. The cryptocurrency’s trend is so strong that it defies negative developments in the legacy markets as well as within the crypto community. Don’t wait for bitcoin to hit $7,800 before you start considering it as an investment.