Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
WMA: Bitcoin Sets New ATH before Losing $8,000 Amid Negative Rumors
1.3 k views
Get the weekly summary of cryptocurrency market trends, news, and forecasts!
This Week’s Summary
- The crypto market ends the week with a total market capitalization of $1,959 trillion.
- Bitcoin lost nearly 9% of its value to fall by almost $10,000 from $64,000 this week.
- Ethereum set a new ATH for the third week in a row but lost 2% over the week.
- XRP lost almost 10% of its value during the past seven days.
- Binance Coin also set a new ATH before losing roughly 4% of its value during the week.
- The DeFi sector added more than $9billion to the total value protocols (TVL).
Crypto Trends 12th – 18th of April 2021: PERFORMANCE & ANALYSIS
Until Sunday morning, the cryptocurrency market was having one of its best weeks in history. Firstly, Bitcoin, Ethereum, and Binance Coin were setting one ATH after another. Then, Dogecoin entered the Top-10 cryptos by market cap after a nearly 300% value boost. Everything seemed to be rosy for the industry.
However, the weekend brought the rumor that the U.S. Treasury is “to charge several financial institutions for money laundering using cryptocurrencies.”
The crypto industry had already overcome another piece of negative news on Friday. Then, the Central Bank of Turkey issued an official statement announcing that Turkey will ban cryptocurrency payments starting from April 30th.
Unfortunately, the news on the U.S Treasure investigation was too much for the young market to take. As a result, most cryptocurrencies started bleeding heavily.
The downfall is visible in the overall market capitalization, which dropped by more than $100 billion. At the moment, it stands at $1,959 trillion.
Bitcoin had a most impressive week until Sunday. After several weeks of struggle, it finally broke past and beyond the $60,000 resistance level. More so, it established a new all-time high at $64,863.10 on Wednesday. From there on, it seemed that BTC would never go below $60k again.
Nevertheless, it did. And, after the money-laundering news came out, Bitcoin dropped as low as $52,000. At the time of this writing, the bulls are regrouping and getting behind the no.1 crypto. Still, the battle with the bears is as fierce as always. Bitcoin is now trading at around $55,000.
Ethereum was following in Bitcoin’s steps for most of the week. It also set a new ATH at $2,547.56 on Friday, its 3rd consecutive record in just as many weeks. Unluckily, it also followed Bitcoin on the way down with a 2.2% value loss.
Ethereum is now trading at around $2,110. Looking forward, the nearest resistance level at $2,207 looks within a hand’s reach. However, it all depends on its ability to recover from negative news or any future rumors.
Ripple’s XRP was flying high and mighty before the weekend. On Wednesday, it came close to the $2 resistance level, stopping just 0.05 cents off of it. Since then, it bled heavily and now amounts to a 9.7% value loss for the past seven days.
At the moment, XRP is trading at around $1.30. The good news is that Ripple’s coin didn’t go on a downward spiral as it did in previous years when similarly bad news had killed its joyride.
Since establishing itself as the 3rd-best ranked crypto by market cap, Binance Coin (BNB) recorded one ATH after another. The latest one came on Monday when it spiked at $637.44. By now, you probably guessed that it didn’t go well for Binance’s native coin.
After registering an overall 4% value loss over the week, BNB is now trading around $452.
Elsewhere, the other altcoins also recorded massive losses across the board. For example, Stellar lost almost 20% of its value, and Polkadot lost more than 12% of its recent gains.
The only silver lining this week comes from the always surprising Dogecoin. The crypto token that started as a joke grew in value by nearly 300%. As a result, it entered the Top-10 cryptocurrencies by market cap. At the moment, Dogecoin is trading at around $0.30.
Elsewhere, the DeFi sector recorded another successful week by adding more than $9 billion to the total value protocols (TVL), which now stands at nearly $60.11 billion.
What’s in the News?
- Coinbase became the first cryptocurrency exchange listed on NASDAQ and opened trading at around $381 per share and is valued at $86 billion.
- Football legend Pele is one of the latest celebrities to have their names linked to NFTs. The three-time World Cup winner’s best career moments will drop on Ethernity Chain starting May 2.
Next Week’s Market Forecast
The cryptocurrency market ends a week that could have easily been one of the best periods in its history. Unfortunately, as the latest events show, the industry is still vulnerable to negative rumors and news.
Btc
Bitcoin
$62.547
price
price
0.84959%
price change
At the time of writing, there is very little to know about the rumor that the U.S. Treasury will investigate money laundering involving cryptos. So, it is difficult to say how the market will react next week when more details should transpire in the press. For now, we can only hope that Bitcoin and the ensuing cryptocurrencies will recover quickly.
Previous
BNB or XRP, Which is The Best Crypto to Buy Now?
Next
Bitclout Introduces a New Way to Do Social Media
Written by
Iulian Lesanu
@Iulian
565 posts
More author posts
WMA: Bitcoin Clings onto $62,000 Amid Extreme Market Volatility
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
8 months ago
WMA: Bitcoin Tumbles to $62,000 as the Market Takes a Dip
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin is down by over 5% to trade at around $62,300. Ethereum decreased by almost 9% to trade at around $2,400. XRP is down by 15%, Solana by 8%, and Dogecoin by 13%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value…
8 months ago
Dypius Launches 3 New and Exciting Mini-Games with Direct Rewards on Base
Dypius delighted the gaming community by introducing three captivating new mini-games: Stone Crack, Kitty Dash, and CAWS Adventure. The games spur from the successful use of Base's secure Layer-2 technology and promise smooth, low-cost, decentralized gameplay. Players can already dive into the new Dypius games and compete in dedicated leaderboards and in-game rewards distributed directly on Base. Boasting cutting-edge graphics and engaging gameplay, these games deliver an accessible and rewarding gaming experience for all kinds of players. Stone Crack, Kitty Dash,…
8 months ago
WMA: Bitcoin Soars to $66,000 as the Market Sees Green All-Around
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,31 trillion. Bitcoin is up by over 5% to trade at around $65,700. Ethereum increased by almost 4% to trade at around $2,660. XRP is up 11%, Solana 10%, and Shiba Inu 36%. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value of protocols…
8 months ago
World of Dypians Reaches New Prestige Level by Making Binance’s Latest Industry Report
World of Dypians (WOD) - a unique, groundbreaking MMORPG, has been featured in the latest Binance report, “Navigating Crypto: Industry Map." Binance is renowned for its in-depth reports showcasing some of the industry's most promising projects. Featuring Binance's overview of the crypto ecosystem is a momentous event for WOD, a game that has been building through innovation and creativity to deliver unmatched gaming experiences since day one. Binance’s The Industry Map looks at multiple subcategories of the crypto industry, such…
9 months ago
WMA: Bitcoin Surges to $62K as the Market Prepares for Altcoin Season
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,19 trillion. Bitcoin is up by over 4% to trade at around $62,700. Ethereum increased by almost 76% to trade at around $2,570. XRP is up by 1%, Solana by 6%, and Shiba Inu by 4%. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector has grown significantly,…
9 months ago
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH USBrowse categories
Explore trending topics in the crypto community right now.
Bitcoin
SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets
The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…
Marius Bogdan Dinu 
@bdinu89
@bdinu89
1 year ago 
597 views
Bitcoin Should be Banned in the United States: Charlie Munger
Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China. In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…
2 years ago 1.5 k views
Tesla’s BTC Positions Remained Unchanged in Q4 of 2022
According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…
2 years ago 1.5 k views
Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF
The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF. Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor. Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…
2 years ago 1.8 k views
Ethereum
Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live
At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…
2 years ago 1.6 k views
Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears
Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system. However, since the Beacon launch…
2 years ago 1.6 k views
FTX Hacker Converts 50k Stolen ETH to BTC
Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%. https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…
3 years ago 1.9 k views
Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant
According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US Treasury Department. Indeed, the OFAC administers and enforces US financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash. According to…
3 years ago 1.8 k views
Trading
How to Leverage Arbitrage Opportunities in Crypto Markets
Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit. Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…
2 years ago 3 k views
The Different Types of Copy Trading in Crypto
Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…
2 years ago 1.7 k views
How to Spot an Unsafe Crypto Exchange
Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable. With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange. The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…
2 years ago 2.2 k views
What Is Grid Trading in Crypto?
Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…
2 years ago 1.6 k views
Tech
Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity
The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 574 views
Bit2Me Champions WEMIX Token in Pioneering European Listing
Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 404 views
CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades
In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 465 views
Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management
The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 592 views