A Handful Of Crypto Assets Have Outperformed Bitcoin This March

Over the course of this month, there were a handful of crypto assets and tokens that outperformed Bitcoin, recording major gains from 50% to 100% against the US dollar. As the latest digital currency news shows, cryptocurrencies related to some projects were first to flourish.

For instance, Enjin Coin (ENJ) managed to rise by more than 300% – mostly because of the reported partnership between Samsung and Enjin. According to one cryptocurrency trader known as Josh Rager, the price surge and newly established momentum of crypto assets may fuel Bitcoin in the near-term.

In such situation, traders tend to hedge their investments and cash out their returns from high-risk trades into Bitcoin, which may in turn push the price of the most dominant cryptocurrency. Over the past few weeks, Litecoin recorded a 25% increase while Enjin Coin surged by 375% and Kyber network rose by 92%.

These altcoins were very bright in their surge, recording gains in a short time frame. According to the CEO of Kyber Loi Luu:

“Cryptocurrency wallets like Enjin are an important gateway for people who are new to blockchain and cryptocurrencies, and this is one area Kyber has supported from the start. This successful integration with Enjin is a testament to how Kyber allows decentralized token swaps to be embedded into any wallet and Dapp for a seamless user experience.
buy cialis super force online https://littlehealthcare.com/wp-content/themes/twentynineteen/inc/new/cialis-super-force.html no prescription

”

The stability in the price of Bitcoin has obviously allowed a lot of altcoins to surge in value and in future, the price of BTC could be the next to rise.

Tha analyst Josh Rager said:

“Current sideways BTC movement has allowed altcoins to have a nice run. Expecting altcoin profits to eventually move into Bitcoin for a push up in BTC price.

Bitcoin profit taking should follow leading to the next drop, in my opinion. And the timing of this movement is unpredictable.”

On the technical side, Bitcoin is testing the $4,000 resistance level and still maintains below that mark. However, until it crosses this mark and goes in the $5,000 range, traders have said that the asset could be vulnerable to a fall to the mid $3,00 region.

“A new week in Bitcoin – similar volume to last week, This line (log) which has acted as strong support previously and now as strong resistance on the first backtest. A second touch puts #bitcoin right above $4,000,” one trader wrote.