Bitcoin
Bitcoin Hits New Yearly High For the Second Day in a Row
Ricardo Martinez | Feb 06, 2020 | 15:04
Bitcoin once again hit a new yearly high, for the second consecutive day. This morning Bitcoin reached a price of $9869 on BitMEX, the largest and most liquid crypto trading exchange.
Bitcoin, has been having a stellar year so far
It’s been another wonderfully good day for Bitcoin, and every other coin in the top ten by market cap, except Bitcoin SV which is in the red. Bitcoin smashed through yesterday’s resistance of $9779, and reached a new yearly high of $9869.
Ethereum has also made solid gains today, up 5% at $212. Yesterday’s breakout set a new high for ETH, after crossing a resistance that had held price down for 5 months. Several prominent traders have called Ethereum a steal even at $200, due to a lot of good news coming out about Ethereum 2.0.
Ripple’s XRP token has held its price and increased to $0.28, on the strength of CEO Brad Garlinghouse’s fiery response to Mike Novogratz, who said that he expects Ripple’s performance to be lackluster for 2020. Garlinghouse fired back with a tweet calling Novogratz out and pointed out that XRP has had a better 2020, than most critics would like to admit.
Binance’s BNB token has been one of the better performers in the last 24 hours, up 6.77% and sitting at $20.60. BNB has been one of the best performing exchange tokens, which grants traders fee discounts on Binance, Binance Futures, and Binance DEX.
Tron is the biggest surprise of the day, pumps on Sun’s dinner with Buffet
Justin Sun, the Founder of Tron, finally had his much publicized meal with Warren Buffet, the Oracle of Omaha, investing legend and prominent anti-Bitcoiner. Many speculated that Sun’s 4.5 million dollar donation to dine with Buffet was never actually going to happen and was just another marketing ploy.
Justin Sun is a master of social media marketing, but some of his publicity stunts have gone awry, like when he promised to give away a Tesla and got into a controversy over who the winner of his contest actually was.
Most recently, Sun faced some backlash on social media from trying to promote his Tron blockchain with a shameless video in which he sent aid to victims of the Wuhan Corona Virus. Many critics felt that his efforts to capitalize on the outbreak and human suffering of the victims was done in extremely poor taste. No matter what your opinion of Sun may be, Tron pumped on the announcement of his dinner with Buffet, and is currently still up 11.39% and sits at $0.022488.
Besides Tron, other altcoins have been showing strength, as well, leading many traders to call a new Altseason. Bitcoin dominance has also declined, giving credence to the theory that traders are diversifying into smaller cap alts, with higher volatility in order to maximize gains.
What do you think about a new altseason? Let us know in the comments!
Images via Shutterstock
