CV Market Watch™: Weekly Crypto Trading Overview (April 12-19, 2019)
Bitcoin held above the $5,200 level, stabilizing in its new range. Altcoins started moving again based on various causes of hype.
Bitcoin (BTC) stabilized once again, slowly rising above $5,200. The leading coin is still not seeing unbridled enthusiasm, but is maintaining this range.
Bitcoin (BTC) did not fall under $5,000 during Tuesday’s sell-off and rose above $5,200. Ahead of the weekend, BTC traded at $5,280.12, on volumes of around $13 billion in 24 hours.
The share of Tether (USDT) increased to above 77% on Friday and BTC now dominates 51.9% of the market capitalization of all assets. The influence of stablecoins currently drives the price.
Ethereum (ETH) sank to lower levels, but bounced again, adding a net 5.4% this week to reach $173.58. The coin’s movements are relatively uneventful, as ETH is supported by its importance within the trading ecosystem as part of multiple pairs.
XRP (XRP) rose to $0.33, as it spread its influence as a base pair asset and wallets appeared on the Apple and Android stores.
Bitcoin Cash (BCH) managed to break above $300 this week, but sank again, down to $299.75 on Friday. The coin is still up 7.9% this week.
Litecoin (LTC) stood at $81.76, stabilizing within a lower price range, giving up on the drive to $100.
EOS (EOS) inched up to $5.48, remaining largely uneventful in the past seven days.
Binance Coin (BNB) was the big growth driver this week, as the Binance Chain launched its Genesis block. The coin is up more than 27% this week, to $22.73, on track to break its dollar-value records. The BNB asset will be swapped for a new type of coin, abandoning its status as an ERC-20 token.
Stellar (XLM) held around $0.11, with no significant game-changing news.
Cardano (ADA) sank slightly to $0.079, managing to keep onto some of the gains.
TRON (TRX) returned to $0.026, despite the expectations of a potential listing on Bitpanda. The asset remains relatively stagnant for another week.
Monero (XMR) rose slightly to $59.47, still bound within a range, as both hidden and outright mining slows down for the project.
DASH (DASH) fell insignificantly to $122.90. The asset is one of the coins seeing increasing mining levels.
Bitcoin SV (BSV) was the biggest loser this week as multiple exchanges delisted the coin. BSV sank to $59.63, earlier with lows near $56. The coin sank by 16% this week and seems to be stabilizing as there are still markets carrying the asset.
Tezos (XTZ) moved into the top 15 of coins, as it claimed new positions above $1. The asset is up more than 44% this week, on renewed enthusiasm.
IOTA (MIOTA) stalled at $0.31, once again displaced farther from the leading coins.
NEO (NEO) sank slightly to $11.12, despite the project’s announcements on encouraging developers and network growth.
Ethereum Classic (ETC) returned to $6.27 after the rapid rally to $8, as the coin is out of the spotlight for now.
Ontology (ONT) is down to $1.32, stemming the slide and solidifying its position.
Maker (MKR) solidified at $646.47 after last week’s crash. The project is constantly increasing its stability fees, now around 7.5%, potentially boosting the value of MKR. Still, the asset is extremely risky and volatile, due to the fragility of a cryptocurrency-backed stablecoin, the DAI.
The past week saw altcoins revive again, moving according to their separate stories. Some assets stood out, while others either drifted or crashed. BTC market prices stalled again, supported by a high percentage of stablecoin trading. While multiple indicators show the bear market is over, there are now less dramatic jumps compared to previous periods of hype.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.