Market update

Market Update 2021-01-12

Bitcoin broke the $50,000 barrier this week and kept climbing, nearly touching $54K over the weekend. But after a massive $14K plunge and a small recovery we’re now back at prices not seen since … last week. In fact, we’re up 13.2% on last Tuesday to trade around $46,000. Ether looked like it was closing in on a new all-time high and topped $1,700 before the plunge. It’s back at $1400 to finish the week up 7.1%. Both coins are up 85% on a month ago. Apart from Litecoin (down 8.2%), and EOS (-3.6%), everything else was up: XRP (24.6%), LINK (9.1%), Stellar (64.6%), AAVE (8%) and SNX (20.3%).

Market Update 2021 Jan 5

The new year has certainly started off with a bang, with Bitcoin nearing $45,000 on January 3, then “crashing” below $38,000 in the first big retracement since we crossed the US$20K barrier (A$26K) in December. It finishes the week around $42,200 to mark a 20% gain. The Ethereum price was even more explosive and is nearing $1500 for the best prices since early 2018. It’s up 51.1% this week. Other coins saw big gains including Litecoin (up 20.8%), Bitcoin Cash (15.4%), Chainlink (12%), Stellar (13.1%), EOS (2.5%) AAVE (39.2%) and Synthetix (47.7%). Bitcoin SV gained 6.8% while Ripple gained 2% and was briefly overtaken as the fourth largest cryptocurrency by Litecoin.

Cryptocurrency Market Update - 2020-12-29

It’s been another massive week in crypto with Bitcoin trading above $37,100 for the first time. At the time of writing Bitcoin was around $35,400 to be up 16.9% for the week and 47.9% for the month. Bitcoin’s current market cap of $660 billion makes it larger than Visa and Walmart and it’s closing in fast on Berkshire Hathaway. The news hit the front page of CNN, in a story headlined: “What the #)$*#@)($ is happening with Bitcoin’s insane record run?”.  After lagging Bitcoin for some time, Ethereum finally outshone the king this week, marking an 18.5% gain to trade above $950. Litecoin increased 21%, Bitcoin Cash gained 12.4%, Chainlink was up 1.2% while Synthetix jumped 28.2%. It’s not alt season quite yet however with Bitcoin SV losing 2.9% and EOS down 7.3%. XRP‘s legal dramas saw it fall 53.1% and may have contributed to the 14.3% fall for Stellar, a similar project from XRP co-founder Jed McCaleb.

Cryptocurrency Market Update 2201222

It seemed like Black Thursday occurred in reverse this week, with Bitcoin shooting up into price discovery mode. The price sailed past the US$20K mark early on Thursday (A$26.4K) and then kept going. It peaked at A$32K (a new all-time high) and is currently trading above $30,100, up 19% for the week. A contributing factor may have been MicroStrategy’s announcement that it had just bought 29,646 more Bitcoin, bringing its total to 70,470 BTC (more than $2 billion worth). Litecoin led the rest of the pack with a 28.6% gain, followed by Synthetix which gained 19.2%. Ethereum was up 4%, XRP (3.5%), Bitcoin Cash (15.6%), Bitcoin SV (3.3%) and EOS (3.7%). Stellar lost 2.9%, LINK (-4.3%) and AAVE (-5.5%). Meanwhile, WBTC (Bitcoin tokenised for use on Ethereum) is now the 15th largest crypto by market cap.

Cryptocurrency Market Update - 20201215

The Bitcoin price is once again in sight of the US $20,000 (A$26,550) mark, after dipping down to the mid $17,000s (A$23,425) on Saturday. At the time of writing Bitcoin was trading around $25,600 which is within 1% of where it was last week. Ethereum also finished flat, Stellar was up 1.2% and SNX gained 2%. Bitcoin Cash lost 2.7%, XRP was down 17.9%, Litecoin (-1.2%), Bitcoin SV (-7.2%), EOS (-3.5%) and AAVE (-6.5%).

Cryptocurrency Market Update 20201208

Bitcoin has spent much of the week consolidating at just under $26,000. At the time of writing Bitcoin was just 1.2% down on seven days ago to trade at $25,750. On-chain analyst Willy Woo says he has “never been so bullish” and his “top model” suggests that $270,500 by the end of 2021 “looks conservative“. If you’re a fan of the Stock to Flow model, it suggests Bitcoin will not fall below $16,000 after this point. Most other coins headed backwards including Ether, which was down 2.3%, XRP lost 5.8%, Litecoin (-3.5%), Bitcoin Cash (-9.2%), Chainlink (-7.4%), Stellar (-14.9%) and EOS (-8.3%). Bitcoin SV finished flat while DeFi ‘blue chips’ SNX (8.8%) and AAVE (18.6%) gained ground. The Fear and Greed index is at 95 or ‘Extreme Greed’.

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