During the recent royal macro beating, Bitcoin and Ethereum have shown resilience when compared when they were high in 2021, though the duo are currently down. Expert have argued that the current state of Bitcoins and Ethereum which are referred to as the two titans of cryptocurrency assets, are quite bullish.
Here’s why one top economist and investor says this is incredibly bullish for the two titan cryptocurrency assets. The two titans of cryoptocurrency cannot be taken down by Royal Macro Beatings.
Macro environment remains uneasy worldwide as there is a sharp market plunged and also precious metals were sold off fast. The two titans of cryoptocurrency remain held up despite the royal beating
The two titans of cryoptocurrency have been in an uptrend for a year now and there have been main bump in the road due to the extant macro jitters. According the an expert in cryptocurrencies in the person of Alex Kruger, that also trades in Crypto currency, he opined that for Ethereum and Bitcoin, the resiliency is bullish.
Ethereum has increased to $2,000, after it fell under $100 while Bitcoin, snowballed to $58,000 from $4,000 high per coin. However, it has been argued that the more than ten times high may not be anywhere near the finish line and if to say to hold up at this point, it could be the spur through the resistance level, that brings the cryptocurrencies at a higher level.
It is imperative to state that precious metals cannot be effectively updated or upgraded because the stock market is on the thin ice and the use of stock of market may be limited in the near future due to the availability of these crypto currencies.
The digital gold narrative has been working, and the steepness of the gold selloff above shows how effective the narrative has been. Crypto prices holding up so well while gold plummets, could send even more capital flowing out of metals and into the scarce digital asset.
Profit-taking in the currency overheated stock market will want to follow the money, wherever the grass is greener and profits are consistent. If that place is the crypto market, the flood gates of capital could finally be coming that helps to push Bitcoin to prices of hundreds of thousands of dollars per coin, and tens of thousands of dollars per Ether.