Australian altcoins rocket higher following Bitcoin price spike

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Australian altcoins

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:

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:

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:

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.