Why are people calling BTC the Digital Gold all of a sudden? With Gold’s price soaring and the rest of the market in the doldrums, BTC holds its stance proudly. The coin is back on track, featuring a price point of $87,000 again!
No wonder people are calling Bitcoin the “Digital Gold”. It was a narrative that BTC claimed long ago. However, the grey years in between made BTC lose its luster to a great extent!
Latest BTC Update
The market is buzzing with the news of BTC reaching $87,000 again. The Asian morning hours broke the news for the first time. But that’s not all. In line, Cardano, BNB, XRP, and even ETH are growing. The net effect on the crypto market is a 1.5% increase in market value.
Since last Thursday, all coins have been seriously bearish. There were no green strikes in the RSI indices. But that’s all going to change now.
Solana, among all mediocre coins of late, has gained a staggering 5.2% in the last week.
What Changed?
The crypto tribe was taken aback by the sudden revelations of President Trump’s tariff announcement. When the announcements flew in first time in Feb, the market didn’t take it so seriously. However, things changed in a murky way when the final announcement came in a few weeks ago. But that is finally put to the past, successfully.
With the latest announcement of a wholesome retraction of tariffs, the new trade verticals are going to be active without doubt.
Nick Ruck, from the LVRG Research, said on Sunday that BTC prices seem to have been tracking in parity with gold prices now. No longer does BTC hold any sharp correlation with US equities anymore.
Other Growing Coins
Cardano is also growing well. The price of the coin is up by 63 cents. Meanwhile, Fibonacci retracement levels suggest substantial continuation towards $2.15 with around a 61.8% extension. Now, XRP could grow to $2.18 as its next target.
BNB is, however, the dark horse in the market now. The coin finally breaks the resistance and now another bullish streak is underway.
