In the wake of Bitcoin’s recent price surge, we examine whether the biggest Australian altcoins are moving in the same direction.
It all happened last Thursday, Bitcoin’s price spiked $1000 in less than an hour. Finally, cryptocurrency investors had something to cheer about in 2018.
The sudden surge, driven by incredible volumes, took Bitcoin above US$8000 for the first time since March.
The leading cryptocurrency has since experienced strong support just below US$8000 and traded as high as US$8400.
Technical analysts are now setting their sights on a breakout above US$9000.
While Bitcoin has stolen the headlines, astute investors could have made big gains over the past week by buying these 3 Australian altcoins:
Horizon State’s Decision Token (HST) hit a low of US$0.41 on Thursday. Then Bitcoin put a rocket under the price of HST.
At the time of publishing this article, HST was trading at around US$0.72 – a meteoric rise of around 75% in under a week.
PowerLedger (POWR) traded as low as US$0.30 on Thursday before the Bitcoin spike.
POWR has also rocketed higher since and at the time of publishing POWR was trading at around US$0.46 – a rise of more than 50% in under a week.
CanYaCoin (CAN) hit a low of US$0.20 on Thursday. Ever since the Bitcoin surge CAN has seen more modest price growth than HST and POWR.
At the time of publishing CAN was trading at around US$0.27 a 35% gain in under a week.
Micky has complied a complete list of all Australian crypto coins and tokens. To view the list click here.
Have you been investing in Australian altcoins? Leave a comment below.