Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 14. It should help you with jumping back on track.
Fundamentals and expected events: week 14
Криптовые рынки: The market capitalization of cryptocurrencies has reached a new milestone, $ 2 trillion over the Easter weekend. However, BTC again reached just below $ 60,000, but is still unable to cross that psychological line and maintain it. Some altcoins have made double-digit gains, such as Binance Coin. Developments in cryptomarkets lead to the fall of Bitcoin’s dominance below 60% and, conversely, an increase in the strength of altcoins, especially Ethereum and XRP. Bitcoin’s dominance is now at yearly lows and continues to decline.
Stock and commodity markets: European stock markets began the new week with growth, supported by a report from the IMF that the world economy will grow the fastest in 40 years. Commodities, including gold, are more or less stagnant.
Key events: During the short week, not many major events are expected, only the outcome of the next Fed meeting and ECB meeting and also the statement of Fed Chairman Jerome Powell. According to unconfirmed information, US Treasury Secretary Yellen should announce the intention of global corporate taxation in the G20 countries, regardless of their official country of residence.
Cryptomarkets and marketcap: week 14
The total crypto market capitalization reached the important milestone of $2 trillion on April 6. 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.
Цена Биткойна в настоящее время $58,704.44.
Доминирование Биткойна в настоящее время 55.31%, a decrease of more than 4% over the week.
The most actual price for one Bitcoin [BTC] is $58 704.44. Bitcoin is listed on 84 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $60 052 755 963, while the Bitcoin market cap is $1 132 212 554 218 which ranks it as #1 of all cryptocurrencies.
After a dip, BTC should recover and start to surge and reach a new high that may last longer. This has been the BTC trading pattern for weeks excluding last week. Bitcoin followed this same pattern during the last 24 hours.
BTC dipped to as low as $56,981 and recently started to increase in value again.
The most actual price for one Ethereum [ETH] is $2 158.48. Ethereum is listed on 98 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $33 152 402 314, while the Ethereum market cap is $248 995 559 360 which ranks it as #2 of all cryptocurrencies.
Below current market levels, some areas of potential technical support during pullbacks include 1 932 – 1 906.64 USD. Beyond those levels, additional areas of technical support include 1 403 USD. Technical Resistance is expected around 2 150 USD. If ETH/USD extends its upward strength, additional upside price objective include the 2 210.42 USD.
Polkadot [DOT] is a cryptocurrency with its own blockchain. The most actual price for one Polkadot [DOT] is $45.15. Polkadot is listed on 22 exchanges with a sum of 61 active markets. The 24h volume of [DOT] is $1 412 737 626, while the Polkadot market cap is $38 493 799 402 which ranks it as #7 of all cryptocurrencies.
Polkadot had close to an uninteresting 24 hours. The only thrilling highlight from the last 24 hours was how DOT climbed to its intraday high of $44.8. It also enjoyed little volatility as prices corrected after a previous high and pumped to record a higher one.