The all major cryptocurrencies have shown significant growth in the last 3 days and this surge led the many potential experts and investors to believe that the market is now finally emerging from the long-term bottom.
If you are looking for information on your favorite cryptocurrency go to www.pyyro.com as this is the live conversation on crypto. In spite of this surge in the last few days which spread in the most of the crypto communities, experts are pointing out the importance of transactions volumes which will indicate where crypto markets are heading next.
No one knows the actual fundamental reason behind this recent surge but may be one factor is the increase in the transaction volume which impacted the all major cryptocurrencies including XRP and Bitcoin.
Bitcoin for the next 2 months
The Chief Analyst at Think Markets U.K, Naeem Aslam believes that Bitcoin will experience the increase in its fundamental strength in the next few months which could translate in a surge in its value. He said that the cryptocurrency king is back on its track and it is the first after the July 2018 that has shown positive growth. He believes that the fundamentals will improve in the next months for the cryptocurrencies.
The increase in the number of transaction value can become very helpful and it will surely attract a number of potential investors to invest.
Another senior Analyst at eToro, Mati Greenspan, also shared similar sentiments to Mr. Naeem Aslam. He explained his point of view with the help of the graph which is recently tweeted on his account.
Greenspan explained that the number of transactions was less than 200k transactions per day and this rate has grown between 400k to 800k transactions per days in the month of February. Greenspan also pointed out that XRP has secured a high influx of transactions after the January 26th.
A look at XRP
Transactions in XRP went downs from December 11th and onwards because of the reason that JP Morgan, which is the sixth largest bank in the world introduced their bank-centric cryptocurrency. Due to this drop, XRP also hit its one of the lowest values in 2018 which was 0.28 USD.
The cryptocurrencies have experienced an increase of up to 10% or more in the recent surge which is a positive sign for investors and traders. However, Greenspan warned that in spite of recent surge, the correlation between the bitcoin and major cryptocurrencies is 0.8 which is very high. It is maybe a signal that the bear market is not over yet.
Different investors and Analyst have their different opinion about this recent surge. If you are thinking about investing in cryptocurrencies then the best way is to take the advice from multiple sources and crypto forums are the best places to discuss these matters with other investors and analysts around the world.
Pyyro (found here https://pyyro.com/) is a great crypto platform where you can know about what’s happening in the crypto world and what other investors are talking about. It is completely free to use and you can follow the crypto market leaders on this platform to learn from the best.