If you take weekly values, then the picture is even more optimistic. Bitcoin climbed by more than 12% in the last seven days.
The altcoin market is keeping pace with the major coin. The leading altcoin Ethereum (ETH) rises more than 4% per day and trades around $150. During the week, Ethereum climbed by more than 14%. XRP 8%, Bitcoin Cash (BCH) 12%, Litecoin (LTC) 9%, EOS 12%, Binance Coin (BNB) 17%, Monero (XMR) 20%, Stellar (XLM) 16%, DASH 8%, NEO 13%, ZCash (ZEC) 20%, WAVES 17%.
Probably, the purchases follow the signs of improving sentiment in the stock markets. As soon as risk assets start to attract demand actively, institutional investors may also increase their positions in the cryptocurrency.
Economic stimulus policies are undermining the value of national currencies. Besides, the planet is facing an entirely new reality, where everything with the “digital” prefix now has an additional chance for growth After the Spanish flu, the world had higher levels of the hygiene. The result of coronavirus may be the growth of human life digitalization, as well as integration in new areas of those people who did not think about the imminent moral obsolescence of his profession.
The FxPro Analyst Team