Many governments as well as citizens remain cautious about cryptocurrencies as they lack awareness and understanding of their nature. However, history proves that digital currencies are just another form of money like shells or silver coins with the only difference that it cannot be touched for the first time ever.
In the latest Bitcoin (BTC) versus Silver (SLV) analogue piece, remarkable similarities can be seen in the charts. Trying to puzzle out the time frame of the consolidation point is very crucial. In Silver, the consolidation period timing was more than 90 days, nevertheless, the 500% rally also took around 30 months. In Bitcoin, the 500% rally took around 9 months.
Precious metals are completely unique and limited assets.They have not only financial value, but also cultural and emotional value. Precious metals have always been valued through history. In ancient times, people used them to make weapons, royal tableware, luxury jewelry. People today are eager to invest in silver, gold, platinum, and other valuable metals. In order to make this process as simple as possible, InnovaMinex developed its own blockchain platform and INX cryptocurrency.
The American Olympic luge team has announced that it is now accepting cryptocurrency as a donation for embodying its ambitions concerning the Olympic Games. Olympians began to accept cryptocurrency in December in the middle of the preparation process for the Winter Olympics in Pyeongchang.
Yesterday was relatively quiet for financial markets due to the US Independence Day celebration. Fears of serious repercussions of Brexit are gradually weakening, and the Bitcoin price briefly found peace in the range of $665 - $680.