Quote from: exstasie on August 01, 2020, 12:08:33 PM

Quote from: LAngel on August 01, 2020, 09:21:38 AM

obviously the main factor has been the sharp decline in the dollar vs gold and on fx markets
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices

The primary reasons risk assets (stocks, gold, silver, BTC, altcoins) are rallying:

Fed QE
Fiscal stimulus
Investors pricing in Fed policy
Investors pricing in inflation possibilities

They fell together in March, now they are recovering together. The USD falling against other currencies probably has some secondary correlative relationship but I don't think it's the primary cause.

Quote from: LAngel on August 01, 2020, 09:21:38 AM

im all-in OMG token its the best deal in crypto rn

Daily and weekly OMGBTC charts are ugly. Altcoins will probably bleed against BTC until this short term BTCUSD rally ends.

I agree.Many people don't realize that Bitcoin actually didn't increased it's value that much.The US dollar value just went down,so people need more US dollars to buy the same amount of BTC.
The active money printing by FED and the investors seeking a safe heaven asset that's different than gold are additional reasons why one Bitcoin costs more US dollars now.
The big altcoins like Ethereum and Ripple will most likely follow Bitcoin's bullish pattern,while the small altcoins will definitely "bleed" and decrease their prices.