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 continues to sit close to USD 8000 which finally looks a stability zone for now. The prices hit a high point of USD 8,743.50 and the lowest point of USD 7,571.47 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (8.05%), Negocie Coins (6.52%) and Coinall (3.21%)
Among prominent news around Bitcoin, Jair M. Bolsonaro, the president of Brazil, has recently revealed in an interview with a well-known TV show host that he doesn’t know what bitcoin is while speaking about his administration’s decision to shut down an ‘indigenous cryptocurrency’ project.
Ethereum followed Bitcoins move and sits slithly below USD 250 now after some weeks of stellar run. Ethereum on the top, this week were at USD 270.33 and were at lows of USD 236.13. The markets that were more active, in volumes, with ETH across various pairs this week were DOBI Exchange (4.15%), CoinEgg(3.45) and Cryptonex (3.28%)
On the top, this week the prices of XRP were at USD 0.459579 and towards the bottom, it quoted USD 0.391093. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG (6.25%), Fatbtc (5.16%) and BW.com (4.63%)
For XRP this week, Bitcoin bull Max Keiser said that Facebook’s Crypto to Kill XRP & Altcoins, Boost Bitcoin (BTC)
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on June 09 at 4:30 pm IST) were
- Bitcoin 2 – Showing a rise of 619.53%
- Themis – Showing a rise of 339.65%
- BOMB – Showing a rise of 259.11%
- Marginless – Showing a drop of 89.84%
- Bitcoin Private – Showing a drop of 60.25%
- SPINDLE – Showing a drop of 45.02%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
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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