Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article.
Closer to USD 4000, Bitcoin saw some neutral sentimental moves this week being flat on price movement. Bitcoin was able to break the resistance of USD 4000 and has been hovering around the same. The prices hit a high point of USD 4,097.36 and the lowest point of USD 4,005.15 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, CoinBene (3.39%), Fcoin (3.37%), BitMex (3.27%)
Among prominent news around Bitcoin, Crypto Firm BlockFi Trims Interest Rates of Bitcoin Savings Accounts.
Ethereum too had its share of flatness and continued to hold its second place. On the top, this week Ethereum was at USD 142.7 and were at lows of USD 135.86. The markets that were more active, in volumes, with ETH across various pairs this week were FCoin (8.26%), Coineal (4.07%), and Fatbtc.(2.57%)
Among news around Ethereum, Alex Sunnarborg, a Tetras Capital representative, noted that recent layoffs at Consensus Systems, better known as ConsenSys, should have a negative effect on the broader Ethereum ecosystem.
Like, it has been a couple of weeks, XRP again had a milder week. The coin stayed very much in the range and consolidated in its number 3 position. On the top, this week the prices of XRP were at USD 0.320777and towards the bottom, it quoted USD 0.309338. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG.COM (8.30.64%) ZB.COM (5.88%) and Fatbtc. (3.57%)
For XRP this week, David Schwartz presented his thoughts on a wide variety of topics at a featured session called “Blockchain Beyond the Hype: The Ripple Effect” where he mentioned that the primary use case that Ripple sees for the XRP Ledger is settling cross-border cross-currency payments because it is “really, really good at that.”
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on March 24 at 09:30 pm IST) were
- ShineChain [SHE]- Showing a rise of 2077.87
- Coni [CONI] – Showing a rise of 238.46%
- Noah Coin [NOAH] – Showing a rise of 213.63%
- Bitcoin X [XBI]- Showing a drop of 48.32%
- NEXT [NET]- Showing a drop of 39.66%
- BoatPilot Token [NAVY] – Showing a drop of 41.47%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com