Technical break outs seen on most charts
Just a couple of days after the announcement by the Federal Reserve's Janet Yellen that all things are hunky-dory, there seems to be reignited interest in the cryptocurrency markets. Gains of eight per cent (8%) upwards are being recorded for Bitcoin, Ethereum and Zcash with Litecoin busting out with an increase of more than 20 per cent!
This seems to be the start of a hedge by fund managers and looking at the activity, this does not seem to be a slow rise but they are grabbing everything they can as long as it is below the highs recorded last month. Whether it rises further that the records set last month is yet to be seen, but if it does the exuberance should be tempered with the realisation that a meltdown is imminent in the real world.
Spread your risks, and do not forget that cash is not king but that gold or silver will be the most coveted thing once it is put on the blockchain!