Updated: 04/15/2019 16:32
Hyip Monitor
cryptocurrency annual maximum
Bitcoin hits the annual maximum record on April 12, find out the possible reasons for the rally, Visa issues cryptocurrency debit cards
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Bitcoin hits the annual maximum record on April 12, find out the possible reasons for the rally, Visa issues cryptocurrency debit cards

April has been an excellent indicator for the cryptocurrency market. Many crypto analysts feel optimistic and expect further growth. Bitcoin and the majority of cryptocurrencies have grown this month, rising by about 38 percent since the beginning of April. The explosive growth on April 2 forced many analysts to scratch their heads, asking themselves: "Is it stable?" However, the fact that Bitcoin could convincingly hold above $5,000 indicates a force that the market has not seen for over a year. On April 12, the total market capitalization (as reported by CoinMarketCap) reached an annual maximum of $186 billion. Bitcoin, of course, makes up almost half of this, with a market capitalization of $90 billion.

There are several reasons for optimism regarding the current rally. It all comes down to the recent flow of good news in the industry combined with market trends. Before the April rally, the most stable month for Bitcoin was March. Many companies have released good news this month - for example:

• Coinbase released its own debit card;
• The trading volume was at a record high level in all areas;
• Last month, CME reported the highest trading volume on Bitcoin futures;
• Interest in the search for Bitcoins in Google has grown, reaching the seventh place in the world.

According to Brian Kelly from BKCM investment management firm in the next few years Bitcoin could exceed a record $20,000. However, rising too sharply, the rest of the cryptocurrency market must now prove that it can stabilize at these price levels. So far, given that Bitcoin has maintained its position above $5,000, the future looks promising, even despite the fact cryptocurrency rates are gradually declining amid reports that Visa (NYSE: V) has begun issuing cryptocurrency cards in conjunction with Coinbase. The debit cards issued by Visa will allow Coinbase customers to make purchases for Bitcoins, Ethereum and Litecoin. At the time of purchase, cryptocurrency is converted into fiat currency.

About the author

Brett Sherpan has been working for seven years writing and editing for online and print media. He has held various editing and copywriting positions and can quickly and competently write copy for sales, marketing and editorial content. Brett is a consistently dependable team player, who thrives in a high-pressure environment, enjoying the challenges of meeting deadlines and am comfortable researching, writing and editing on a wide range of topics
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