Major news headlines for the day are:
- Bitcoin SV Sees 48% Rebound as Bitcoin Cash war comes to an end
- Bitcoin Commerce Payments Down 80% Since January, Scalability Blamed
- Ohio State Government Embraces Cryptocurrency
- Coinbase Loses another top guy- Mike Lempres moves to Andreessen Horowitz
- Judge Tells SEC They Didn’t Prove Blockvest ICO Is A Security
- DJ Khaled and Floyd Mayweather Formally Charged for Fraudulently Promoting ICOs
Now let’s have a look at price movement this week
Bitcoin after melting down for a couple of weeks, major cryptos are back in green again.Looks like the bottom has been found. The prices hit the high point of USD 4,413.02 and the lowest point of USD 3,643.92 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (26.21%), CoinBene (4.53%) and Binance (2.31%)
Among prominent voices, Max Keiser who is one of the most followed and controversial analysts and influencer of the crypto ecosystem, predicted Bitcoin at USD 100k. According to him, “Bitcoin is the monetary black hole that will gobble up all fiat and rise to more than $100,000 doing it. But humans themselves may never see that day.I have more faith in BTC than I do in humans surviving the ecological holocaust we’ve triggered with our collective stupidity. Bitcoin might only be used by our robot successors. Ironically, they don’t care about price.”
Ether-like BTC too rebounded and now sits some distance from the USD 100 mark although its problems continue to haunt. Ethereum on the top, this week were at USD 126.05 and were at lows of USD 102.45. The markets that were more active, in volumes, with ETH across various pairs this week were CoinBit (9.89%), RightBTC (5.39%) and OEX (5.08)
Among news surrounding Ethereum, ETH’s misery doesn’t seem to be ending as the data on Ether Scan shows the total pending transactions on Ethereum has crossed the 90K mark.
XRP still is at second place as Ethereum takes a beating. On the top, this week the prices of XRP were at USD 0.401583 and towards the bottom, it quoted USD 0.342019. The exchanges that were more active, in volumes, with XRP across various pairs this week were ZBG (22.05%), Bitbank (11.33%) and ZB.COM (5.61%)
For XRP this week, Dan Morgan, Ripple’s Head of Regulatory Relations for Europe said Asian Markets Have a Growing “Appetite” for Ripple
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on November 25 at 1:35 pm IST) were
- Parkgene – Showing a rise of 153.85%
- NaPoleonX – Showing a rise of 149.50 %
- Clams – Showing a rise of 120.59%
- Provoco Token – Showing a drop of 67.00%
- StarChain – Showing a drop of 61.69%
- RusGas – Showing a drop of 58.87%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
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.