Week 16 – Overview of fundamentals and markets

week 16, bitcoin

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 16. It should help you with jumping back on track. 

Fundamentals and expected events: week 16

Crypto markets: Cryptomarkets recorded a sharp increase over the past week, mainly due to the listing of the largest cryptoburse Coinbase on NASDAQ. Sharp correction occurred over the weekend, according to speculations due to the impact of the decline in the hashrate of the bitcoin network due to outages in China and a tweet about possible US intervention in cryptocurrency regulation. However, after yesterday’s massive slump, Bitcoin has already managed to bounce back and gained about 6,000 USD. Most altcoins are also strengthening again, led by ETH, which is back above $ 2,200 and BNB, which is above $ 530. The total market capitalization of cryptocurrencies has increased too and is now back around $ 200 billion. However, the volatility of the crypto markets showed its full force.

Stock and commodity markets: After last week’s growth, there was a cooling on Monday, probably due to concerns about the deterioration of relations between the USA, the EU and Russia, caused by the case in the Czech Republic and the subsequent expulsion of Russian diplomats. Gold prices are held down by rising real interest rates on government bonds, which are considered risk-free. Companies also continue to announce their financial results for Q1.

Important events: ECB meeting is expected, which will address the issue of bond repurchases and interest rates. Macro data from the USA, France, Germany and other countries are also expected. Information on the ongoing fight against the global pandemic and the progress of individual countries in vaccination, which could lead to a gradual loosening of the lockdowns, will also be important.

Cryptomarkets and marketcap: week 16

The total crypto market capitalization reached the important milestone of $1,97 trillion on April 19. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to neglect it.

Less than three months ago, the crypto market had reached the $1 trillion in market cap for the first time ever. This rate of growth shows that investors are hugely bullish on the potential of the sector and the ones who delay their investment decisions may have to enter at much higher levels.

Bitcoin’s price is currently $54,628.19.

Bitcoin’s dominance is currently 51.82%.

BTC/USD

The most actual price for one Bitcoin [BTC] is $56 599.62. Bitcoin is listed on 81 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $61 281 186 440, while the Bitcoin market cap is $1 057 635 041 029 which ranks it as #1 of all cryptocurrencies.

After more than a month, bitcoin saw prices fall below the dynamic bullish trendline that accompanied the strong trend that last week saw it record new all-time highs, touching $65,000.

The shock that hit prices over the weekend recorded a selloff of over 20% from the highs and a return of prices to test the lows already seen with the previous bearish movement at the end of March, namely the $50,000 area. (https://bitcoinethereumnews.com)

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DOGE/USD

The most actual price for one Dogecoin [DOGE] is $0.416212. Dogecoin is listed on 67 exchanges with a sum of 400 active markets. The 24h volume of [DOGE] is $33 192 130 256, while the Dogecoin market cap is $53 796 258 366 which ranks it as #5 of all cryptocurrencies.

In such a mixed moment, Dogecoin (DOGE) continues to stand out as it continues to buck the trend, not only in terms of price which remains pegged to last week’s absolute highs but also in terms of total trading volume recorded on the major exchanges.

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ETH/USD

The most actual price for one Ethereum [ETH] is $2 190.21. Ethereum is listed on 93 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $39 906 630 505, while the Ethereum market cap is $253 045 359 658 which ranks it as #2 of all cryptocurrencies.

Even for Ethereum, this was a strong bearish move which saw it lose around 25% from Friday’s highs. Unlike Bitcoin, the decline does not affect the bullish trend that has accompanied the rise since late December 2020.

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