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 saw some positive sentimental moves this week but maintained to stay in green this week with a rise of over 2.4%. As of now, Bitcoin sits over USD 3900 maintaining an upward trajectory since last week. The prices hit a high point of USD 3,987.24 and the lowest point of USD 3,733.75 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (15.1%), CoinBene (4.12%) and OEX (2.66%)
Among prominent news around Bitcoin, According to Adrian Zmudzinski who published an analysis of the price movements of Bitcoin, went on to say Bitcoin’s (BTC) price has moved up above $3,900 and is heading toward the $4,000 level as it seems that perhaps the bulls are beginning to take control again finally.
Ethereum continues its hold on second place and looks a little distant from the number 3 XRP for some time now. On the top, this week Ethereum was at USD 140.86 and were at lows of USD 125.40. The markets that were more active, in volumes, with ETH across various pairs this week were Bibox (3.18%), Fatbtc (2.83%), and BW (2.74%)
Among news around Ethereum, a new report has surfaced that indicated only a meager 7,500 Ethereum wallets hold 80% of ETH circulating supply. In views about this report, Weiss Ratings has expressed concerns that this may be a challenge when the project adopts Proof-of-Stake consensus algorithm.
XRP and Ethereum gap seem to be widening as XRP holds number 3 position. On the top, this week the prices of XRP were at USD 0.320833 and towards the bottom, it quoted USD 0.302677. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG.COM (9.72%) ZB.COM (6.71%) and BitForex (4.07%)
For XRP this week, An article published on Forbes has made a strong case for Litecoin (LTC), sitting at the fourth largest market capital position, flipping third-ranked XRP by the end of the year.
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 10 at 10:30 pm IST) were
- 4NEW [KWATT]- Showing a rise of 543.80%
- BitMax Token [BTMX] – Showing a rise of 210.94%
- Cosmo Coin [COSM] – Showing a rise of 181.12%
- S4FE [S4F]- Showing a drop of 65.30%
- SophiaTX [SPHTX]- Showing a drop of 54.19%
- Blocktix [TIX] – Showing a drop of 49.30%
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.