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Bitcoin’s Price Fully Bullish as Funds Switch from Investing to Trading After $40 Bln Cash Injection in One Week

  • Jack Thomas
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    As funds start switching their tactics from investing to trading Bitcoin, it is becoming clear that a bullish trend is in full swing.


Bitcoin’s Price Fully Bullish as Funds Switch from Investing to Trading After $40 Bln Cash Injection in One Week
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There is no doubt that the cryptocurrency spring is in full bloom now and could be heading for even brighter days. The prices of cryptocurrencies are up, and positive news is sending them higher.

However, there are even bigger cues indicating a shift in the market as it has become obvious that cryptocurrency funds have changed their tactics.

Cryptocurrency funds have veered away from increased investment and have primed their focus on the market, says Michael Arrington, the founder of Arrington XRP Capital and TechCrunch.


A bullish mood

Arrington spoke on CNBC’s Crypto Trader to share his views on this shifting in sentiment, stating that as the entire cryptocurrency market has added nearly $40 billion in less than a week, cryptocurrency funds have seen a wave of optimism.

Arrington is positive about the direction of the market and bases that on the fact that funds are moving away from establishing ties and instead, are looking to trade on the market.

A year of building

The positivity in the market is not only good for investors, traders and those keeping an eye on the price – it is also indicative of how 2018 was a year of building for the blockchain space, and thus the cryptocurrency market.

“I think the deals will pick up again, entrepreneurs will start to build companies, because they know they can raise money and we’ll start to see really good deal flow coming in,” he said. “This is definitely the season of the mainnet.”

Many major cryptocurrencies have started hitting targets along their roadmap, which includes moving over to mainnets. And, the snowball effect is that as these projects show promise, the market rises, and the rise in market makes for a better ecosystem for these projects to thrive.

Thus, having a bearish year in 2018 where projects decided to focus on fundamentals was probably a good thing for the overall health of the ecosystem.

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Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?


Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
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On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.


This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

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