A volatile week in the crypto market with the scent of another Alt’s season in the air. Bitcoin’s price climbed and pulled the market up for a few days until Sunday’s sharp correction wiped out $11 billion in two hours and depressed the enthusiasm of those who had already felt that it was a clear trend change.
In the past few weeks, we have witnessed new Altcoins, such as Beam and Grin, whose launch has created renewed hype, along with other offerings on the Binance Launchpad. However, Beam and Grin lost around 30% of their value this week, and it seems that the market is in no hurry to wake from its winter sleep with the adoption of new temporary trends.
However, the overall market cap continues its uptrend along with the continued growth of higher trading volume. There are, of course, some Alt’s, such as the Enjin Coin, which rose around 150% of its value, probably because of a picture of their wallet on the new Samsung. Also, data shows a balance between short and long positions, and it seems like a temporary lull from the market’s speculations and manipulations.
The first two months of 2019 brought investors a bit of respite after a year of many tumbles, and it seems that the market is showing signs of recovery, especially when looking at the continuing rise in trading volumes. It should also be noted in this context that NASDAQ recently added Bitcoin and Ethereum indices. It seems that they are also beginning to take the crypto phenomenon more seriously.
Bitconnect Investigation: FBI Looks For The Victims. The Bitconnect saga in 2018 seems to be already in the past. However, not for the FBI as their agents are still collecting information from victims with a hope of catching the masterminds.
Binance and NEO Accused By Blocknet of Stealing Info Used To Build Binance DEX. Blocknet claims that NEO, and especially Binance, had capitalized on their popularity within the crypto space to steal information that helped the quick launch of the Binance DEX last week.
ICOs are Back #2: Fetch.Ai Raised $6 Million in 10 Seconds on the Binance Launchpad. The Binance Launchpad has once again made light of the ICO and crypto winter, helping Fetch.ai to raise $6 million in a token sale that lasted for 10 seconds!
Elon Musk: Bitcoin Has ‘Quite Brilliant’ Structure, Paper Money is Going Away. Although Tesla is not accepting Bitcoin at the moment, its CEO has praised the invention and even predicted that it would soon replace paper money.
Billionaire Warren Buffett: Bitcoin Is a ‘Delusion’ That ‘Attracts Charlatans’ The 88-year old U.S billionaire may be the king of stocks but has once again shown that he has little knowledge about Bitcoin, labeling it a “delusion.”
Coinbase Exchange Users Can Buy and Sell XRP Starting Tomorrow. It has taken close to six years for Coinbase to finally list the third cryptocurrency by market cap, XRP, on any of its platforms. Coinbase announced on Monday that it would open the trading books within the next 12 hours.
This week we have chart analysis of Bitcoin, Ethereum, Ripple, TRON and Digibyte – Read more here.
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Cryptocurrency charts by TradingView.