Bitcoin Hits $44,000 and select alt. coins surge
Bitcoin has had one hell of a week, month, and year when you consider that Bitcoin began 2023 at around $16,600. This puts BTC’s gains so far in 2023 at $28,000 or 170%. Today’s high matches up with a 38.2% Fibonacci retracement from the 2020 March lows to the all-time record high.
A few promising alt. coins also have had stellar gains so far this year. Solana (SOL) started the year beneath $10, the coin which in my opinion will overtake Ethereum continued higher this week and today gaining around 20% and 7.5% respectively. Today, Solana broke above $68 a level that had been resistance and has been trading between $71 - $73 since that breakout. This puts 2023 gains in Sol at $64.46 or an astonishing 658% jump up to its recent high above $74.
Helium (HNT) is another noteworthy crypto that helped nudge Solana higher by migrating its own layer 1 onto Solana’s layer 1 in April of this year (something only ever achieved on Solana). Helium began the year at $1.58 and hit a high this week at $5.92 which is 281% above its opening price at the start of 2023. Most of its gains were made this week when they officially launched a cellular service that is set to challenge the big boys like Verizon and AT&T. The crypto that started out as a decentralized IOT (internet of things) network officially entered the wireless data ring challenging the telecom giants with the launch of a nationwide plan priced at $20 per month for unlimited talk, text, and data with T-Mobile at its side.
All three of these crypto currencies from the true OG Bitcoin, to the shing star of Solana, and the unique crypto set to disrupt an industry outside of finance Helium have extremely bullish fundamentals and technical indicators that set these three blooming blockchains apart. All three have their major moving averages in full bullish alignment and even more so the moving averages continue to diverge moving further away from each other as they continue their path to higher and higher prices.
