Welcome to The Week in Crypto – Apr 15th 2018
What a difference a week can make – green results across the board for at least the top 145 cryptocurrencies! It is possible we have now finally bottomed out and the start of the next bull run is here. Only another week or two of positive growth will confirm that.
Overall, the cryptocurrency market moved up over 20% from $266 billion to $322 billion.
Bitcoin: A healthy gain this week, with a mid-week rally kick-starting things and in the end, a move up from $7,061 to $8,286 (+17.35%)
Ethereum: Out-performed the rest of the market with several smaller rallies and moved up from $399 to $524 (+31.33%)
Ripple: Also outperformed the market with a great mid-week rally moving up from $0.49 to $0.67 (+36.73%)
Bitcoin Cash: Not quite as good as other coins, but a significant gain from the week before up $656 to $775 (+18.14%)
Litecoin: Although it didn’t perform as well as other coins, still a good gain from last week and moved up from $118 to $130 (+10.17%)
- Total cryptocurrencies: 1,568
- Market cap: $332,077,217,088
- BTC dominance: 42.3%
Top 20 cryptocurrencies as by market cap:
Market cap changes by coin for the last week:
Well here we are, the first week in a while with some positive news – all the shorters got burnt massively this week in their bid to bring Bitcoin down to below $6k. On Wednesday the bulls were having none of it and rallied Bitcoin $1,000 up in just 60 minutes. If you follow the BitMEX REKT bot on Twitter you’ll likely have been spammed to death with some massive liquidations from shorters’ accounts – the biggest we saw was a $10,000,000 order – ouch. Is Bitcoin actually back in the good books then?
Popular exchange Bittrex opened the door to new users again finally.. however it only lasted for 25 minutes before it came to a crashing halt – a sign that the thirst for crypto is still ever present. Another exchange has uprooted and decided to move to cryptocurrency friendly, Malta.
Ironically this week, ‘Bitcoin is a fraud’ believers JP Morgan have been hit with a class-action lawsuit over unannounced fees and interest for cryptocurrency purchases on their customers’ credit cards
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We’ll be back next week with another update on Sunday, 22nd April.