After range trading for a couple of days, Bitcoin finally broke through the psychological resistance level of $60,000 at around 2am UK time. Almost at the same time, Ethereum also raced past the $2,000 level bringing Ethereum rally in the last one week up a staggering 20%.
It seems the usual “unlucky” month of March has ended which in turn heralds a new month of optimism among leading cryptocurrencies.
As blockchain technology gets greater adoption, infrastructure based projects like Filecoin are hotting up. The latter has seen its price skyrocket from $100 to $230 in a week.
“After a stellar performance in the first quarter that saw the king of crypto record an all-time high of US$61,700, bitcoin enters April leading a seemingly buoyant cryptocurrency market.
Technical indicators suggest that bitcoin might repeat a pattern played out in previous halving cycles. Meanwhile, as PayPal’s recent announcement demonstrates, the inherent volatility of digital tokens is no barrier to their increasing use in payments.
This rally could possibly herald bitcoin’s first meaningful encroachments into the legacy financial system and credit card industry.” ,Paolo Ardoino, CTO at Bitfinex
Indeed, crypto is gaining legitimacy across the payment providers. A year from now, paying via cryptocurrencies maybe as common as credit cards
