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Cryptocurrencies are outperforming stocks and gold this year. Bitcoin has roared back and jumped by more than 86% this year and is outperforming the Nasdaq 100 and Dow Jones. The Nasdaq 100 index has risen by over 30% while gold has moved sideways. At the same time, AltSignals token sale has continued successfully in the past few months.
Crypto beating stocks
Bitcoin and other cryptocurrencies have gone through baptism by fire in the past few months. In May last year, Terra and its ecosystem crashed, leading to billions of dollars in losses. In the aftermath, companies like Celsius and Three Arrows Capital crashed. Today, Terra’s founder is in jail and is facing numerous legal challenges.
In November, FTX, then valued at over $30 billion collapsed, leading to huge losses. At the time, many investors worried that the crypto industry would not survive it. Today, Sam Bankman Fried is waiting for his trial in the United States. This week, he lost a motion to dismiss his lawsuit.
This month, the crypto industry faced a major challenge when the Securities and Exchange Commission (SEC) filed lawsuits against Binance and Coinbase. These lawsuits will likely have a major implication for the industry. It is still too early to predict how the suits will end.
Despite all this, it seems like cryptocurrencies have demonstrated strong staying power, as Jerome Powell stated last week. Therefore, there is a likelihood that Bitcoin price will continue soaring in the coming weeks.
As shown below, Bitcoin is hovering near the highest level this year. It has formed a bullish pennant pattern, which is a bullish sign. The 25-day and 50-day moving averages have formed a bullish crossover pattern. Therefore, there is a likelihood that the coin will soon explode higher, as I predicted in this article last week.
AltSignals token sale continues
Another important crypto news is that the AltSignals token sale is nearing its end. The developers have now raised over$1.034 million in the first phase of the token sale. This means that only 3.2 million tokens are remaining in the first phase.
ASI tokens are now selling at 0.015 USDT, which could be their lowest level on record. The developers will next hike the price by 25% in the next phase, which will start soon.
For beginners, AltSignals is a company that is seeking to leverage artificial intelligence technology to provide accurate crypto and forex signals. A good thing about AltSignals is that the company already has thousands of users, who have given it excellent reviews. It is also a profitable company.
The new AI-enabled platform will not completely replace the current system that uses technical indicators. Instead, it will complement the technology to offer more accurate signals.
Is ASI a good buy?
So, is AltSignals a good token to buy? I believe that ASI is a high-risk and high-reward investment. If it all goes well, the token will surge when it get listed in key exchanges like Uniswap. We have recently seen several tokens like Pepe and Milady Meme token surge. Along the way, many people who invested a few hundreds dollars have now become rich.
The risk is that the token could also plunge when it gets listed. Therefore, investors should balance the risk and reward by allocating a small portion of their portfolios to the coin. You can buy the ASI token here.
The post Crypto rally could gain steam, a positive thing for AltSignals (ASI) appeared first on Invezz.
