Alexander Kuptsikevich
FxPro Financial Services Limited
Bitcoin and the overall crypto market started the week on a positive note. In the last 24 hours, the benchmark cryptocurrency has added almost 4% and managed to exceed $7K. Along with the price, the growth of trading volumes is also noticeable, which further strengthens the upward momentum for the coin. The bitcoin dominance index remained close to 65% during the week. The RSI shows growth along with the price, but it is still in a neutral area from which it can quickly turn down. Since mid-March, the Bitcoin Crypto Fear & Greed Index remained in the "extreme fear" area.
If you take weekly values, then the picture is even more optimistic. Bitcoin climbed by more than 12% in the last seven days.
The altcoin market is keeping pace with the major coin. The leading altcoin Ethereum (ETH) rises more than 4% per day and trades around $150. During the week, Ethereum climbed by more than 14%. XRP +8%, Bitcoin Cash (BCH) +12%, Litecoin (LTC) +9%, EOS +12%, Binance Coin (BNB) +17%, Monero (XMR) +20%, Stellar (XLM) +16%, DASH +8%, NEO +13%, ZCash (ZEC) +20%, WAVES +17%.
Probably, the purchases follow the signs of improving sentiment in the stock markets. As soon as risk assets start to attract demand actively, institutional investors may also increase their positions in the cryptocurrency.
Economic stimulus policies are undermining the value of national currencies. Besides, the planet is facing an entirely new reality, where everything with the "digital" prefix now has an additional chance for growth After the Spanish flu, the world had higher levels of the hygiene. The result of coronavirus may be the growth of human life digitalization, as well as integration in new areas of those people who did not think about the imminent moral obsolescence of his profession.
Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?