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.
Bitcoin has again been stable this week with dropping less than a percent. The good thing about Bitcoin is that it still hodls itself above USD 3500. The prices hit the high point of USD 3,654.93 and the lowest point of USD 3,539.72 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (12.19%), CoinBene (4.16%) and OEX (2.55%)
Among prominent news around Bitcoin, Jeff Schumacher, founder of BCG Digital Ventures said The price of bitcoin is still overvalued and “will go to zero” eventually.
XRP still holds second place again but Ethereum still stays in close vicinity. On the top, this week the prices of XRP were at USD 0.322593 and towards the bottom, it quoted USD 0.313455. The exchanges that were more active, in volumes, with XRP across various pairs this week were BitMax (15.46%), ZB.COM(8.97%) and ZBG (4.87%)
For XRP this week, In a recent document from Saudi British Bank (SABB), subsidiary of HSBC, it became clear that they are testing Ripple since December 2018 for cross border remittances to Saudi Arabia.
Ethereum has had a somber week as its Constantinople upgrade got delayed. Ethereum on the top, this week was at USD 119.72 and were at lows of USD 114.68. The markets that were more active, in volumes, with ETH across various pairs this week were OEX (6.00%), DOBI Exchange (5.60%) and Bibox (3.00%) and
Among news surrounding Ethereum this week, ETH Co-Founder Gavin Wood’s Blockchain Protocol Plans $60 Million Second Token Sale
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on January 27 at 3:35 pm IST) were
- Sentinel Chain – Showing a rise of 267.07%
- Beam – Showing a rise of 166.01%
- Ormeus Coin – Showing a rise of 131.97%
- Kambria – Showing a drop of 76.54%
- CariNet – Showing a drop of 45.19%
- Apollo Currency – Showing a drop of 42.56%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.