According to Mike McGlone, senior commodity strategist at Bloomberg Intelligence, a supercycle in bitcoin may be in progress as the cryptocurrency is currently outperforming gold by a factor of almost ten. He clarified that bitcoin’s (BTC) “nascent stage of low and rising adoption vs. diminishing supply” is an advantage it has over most commodities. He added that, “typical compared with most assets,” Bitcoin’s price has been rising in an extended period of time relative to the Bloomberg Commodity Spot Index. Finally, he pointed out that if historical patterns continue, when bitcoin “heads toward new highs,” its volatility is more likely to recover than that of commodities. News Sorce

The price of Ethereum began a new rise above the $1,800 barrier against the US dollar and is currently aiming to climb toward $2,000. The price is currently consolidating gains as an important bullish trend line with support at $1,780 forms. Get a 150% Welcome Bonus plus 100 Free Spins on your deposit right away by taking advantage of this crypto deal! With a crucial bullish trend line forming, the price of ethereum is currently trading above $1,780 and the 100 hourly simple moving average. The bulls’ next target is $2,000, and they expect to test the $2,120 resistance area in the near future. In the event that ethereum is unable to overcome the $1,850 resistance, it may begin a new downtrend and fall as low as $1,720.The MACD is now losing momentum in the bullish zone, and the RSI is now above the 50 level. News Sorce