Categories: Uncategorised

Bitfinex CTO hails bullish phase in crypto market

Bitfinex CTO Paolo Ardoino has claimed that ‘the age of cryptocurrency has well and truly begun’, in light of Bitcoin’s recent rally to $16,000.

Bitcoin has paved the way for momentous moves across the board this morning, with Ethereum experiencing a 10% surge to the upside while coins like Litecoin and Chainlink are up 12% and 13% respectively.

The market-wide rally coincides with the US presidential election, which is currently being labelled as ‘too close to call’, although analysts forecast a Joe Biden victory in the coming days.

“We’ve witnessed Bitcoin’s ascent and dominance as the final votes of the US election are being counted.” Said Ardoino.

The Bitfinex CTO then heaped praise on Ethereum as its daily volume has increased from $14 billion to $19 billion across all exchanges.

BTCUSD chart by TradingView

He added: “The spike we’ve also witnessed in Ethereum trading volumes over the past 24-hours is spectacular in a year where it has powered so much innovation in the digital asset space.

“As Tether’s market cap breaches the $17 billion mark, it could be said that the age of cryptocurrency has well and truly begun.”

Bitcoin moves into the typically low volume weekend on the back of touching the $16,000 level of resistance yesterday evening. If it can break above that point before the weekly candle closes, it will likely push towards a new all-time high in the coming weeks.

For more news, guides and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

Disqus Comments Loading...

Recent Posts

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

2 weeks ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

2 weeks ago