A brief crash
The altcoin report.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$120,526.00
1.78%$4,686.75
9.73%$3.28
4.71%$852.23
6.61%$200.88
15.12%$0.999763
-0.00%$4,674.82
9.60%$0.246432
11.84%$0.357207
3.59%$0.872701
13.45%$5,667.49
9.63%$24.19
14.26%$46.30
9.07%$120,484.00
1.87%$5,033.73
9.69%$0.452388
4.45%$4.02
10.93%$5,025.42
9.83%$609.51
3.48%$0.265527
7.78%$4,687.00
9.80%$1.001
0.07%$25.13
9.99%$132.30
10.90%$3.52
5.30%$9.25
2.15%$0.00001388
8.65%$0.999913
0.04%$12.16
12.06%$0.999706
-0.07%$46.25
3.31%$120,479.00
1.80%$4.26
10.56%$106.67
133.64%$4.88
11.64%$0.167693
-0.18%$1.19
0.02%$0.80575
5.15%$0.00001232
10.39%$328.64
11.84%$258.86
5.03%$399.85
10.98%$1.10
8.30%$24.08
9.35%$2.89
12.03%$1.072
10.00%$4.94
9.66%$5.82
9.18%$0.396294
4.60%$245.69
15.10%$4,685.92
9.66%$0.098782
13.65%$0.492693
12.81%$0.277591
10.57%$1.00
0.00%$0.03776697
8.69%$0.252366
8.73%$0.02616721
8.76%$4.81
7.36%$18.62
13.05%$0.999988
0.00%$5,318.60
9.55%$4.20
13.11%$0.00002687
11.86%$215.04
15.45%$4,914.28
9.67%$1.086
11.74%$0.343113
14.74%$4.57
-0.04%$0.737729
8.50%$1.063
0.00%$9.49
8.59%$5.40
6.24%$2.69
9.35%$5.95
5.87%$0.083951
2.62%$4,926.34
9.75%$5,088.18
9.97%$117.21
6.90%$1.83
6.57%$0.553127
12.50%$4,949.45
8.29%$0.0231585
5.81%$120,530.00
1.77%$12.79
7.70%$15.42
13.96%$0.090689
4.45%$0.99962
0.01%$1.052
15.94%$1.95
14.45%$0.810666
9.39%$4,940.39
9.82%$0.00397906
14.10%$1.54
5.13%$0.766056
8.67%$1.37
2.24%$1.00
0.14%$0.02799356
-4.83%$0.999819
0.01%$0.998758
0.31%$3,371.20
0.86%$46.33
9.27%$0.999891
0.02%$226.79
15.33%$119,314.00
0.64%$0.61271
11.26%$1.34
22.33%$0.00011787
10.31%$851.93
6.44%$1.11
29.68%$0.103289
11.23%$0.999995
0.02%$0.327149
11.42%$4,686.63
9.71%$1.041
16.70%$0.199492
2.82%$2.93
8.58%$0.380723
0.28%$0.999896
-0.00%$29.67
7.44%$120,453.00
1.67%$3.61
19.62%$5.73
7.90%$3,351.34
0.30%$264.13
14.85%$121,076.00
1.50%$1.11
0.02%$0.588815
12.28%$0.881361
3.86%$1.39
7.41%$0.905607
10.36%$4,516.98
0.52%$0.153168
6.23%$0.01843502
12.58%$0.214818
9.04%$0.01845805
11.64%$4,684.02
9.74%$4,676.11
9.83%$4,962.83
8.59%$0.133391
12.34%$0.30739
10.09%$4,983.95
9.70%$2.26
11.31%$0.436731
-2.18%$1.98
13.27%$120,279.00
1.72%$112.15
0.01%$0.0000007
3.76%$1.088
0.47%$0.211003
-0.63%$0.997446
-0.03%$5,167.29
9.97%$4,685.17
9.75%$0.406752
11.42%$0.45864
15.92%$39.70
7.94%$0.999394
0.01%$0.246388
12.06%$0.62844
-0.42%$5,080.53
10.08%$0.316254
9.75%$1.48
5.30%$0.060713
13.11%$0.00648711
6.37%$0.00817319
0.17%$29.54
4.93%$120,662.00
1.97%$0.00983377
11.68%$0.997737
0.01%$0.145772
15.48%$3.00
5.30%$0.718509
14.91%$0.00000141
4.01%$4,637.38
9.40%$8.31
14.43%$4,684.53
9.74%$1.25
8.23%$1.49
9.98%$0.464547
0.47%$0.650336
7.67%$0.072588
-0.23%$0.513368
7.88%$0.00000122
11.01%$117,535.00
1.06%$54.33
7.76%$0.999832
0.01%$0.815421
10.61%$7.57
9.43%$0.998513
-0.02%$0.068031
22.41%$0.01402206
3.23%$0.403514
8.23%$6.76
10.19%$5,678.38
9.79%$16.55
10.96%$1.46
9.42%$0.00000047
-0.71%$0.02367187
5.87%$15.12
2.27%$0.178185
20.24%$1.16
-0.02%$0.00002225
6.56%$0.00859034
10.37%$0.399701
6.44%$1.003
-0.36%$7.57
0.73%$2.60
10.66%$0.0441321
8.30%$0.089798
9.16%$0.999893
0.02%$0.00485604
-0.69%$220.89
15.40%$5.15
0.99%$1.096
-0.02%$0.592384
7.48%$46.21
9.32%$0.997521
0.68%$4,910.19
9.13%$10.78
0.03%$0.9998
-0.00%$4.87
15.85%$120,559.00
1.88%$30.62
9.67%$0.03460172
4.17%$25.15
10.11%$0.585404
11.55%$0.145626
8.41%$0.277014
5.79%$5,271.70
9.58%$0.371021
10.74%$142.76
8.00%$0.00504411
15.51%$0.116107
-2.47%$22.72
0.80%$0.596584
11.92%$4,683.08
9.22%$0.00000303
26.61%$0.804173
-1.21%$1.32
8.69%$120,172.00
1.68%$0.25211
8.85%$0.00355603
7.76%$0.753959
8.16%$0.828993
10.11%$120,448.00
1.83%$0.00498173
9.79%$0.00006223
3.79%$0.0345175
3.96%Reading
Bitcoin is looking like it will cross the $60k threshold for the fourth time this year. The currency grew in price by almost a percent overnight to settle on a figure of $59.1k as of lunchtime UTC.
It’s still noticeably off last weekend’s ATH of $61.7k, but Bitcoin fans have been getting used to the ebbs and flows of its value over the course of its phenomenal bull run.
Back in February, when Tesla disclosed that it had purchased $1.5 billion of Bitcoin, the price surged from $38,903 to $46,196, a spurt of almost 18%.
Sustained by both retail and institutional hype, the price of Bitcoin continued to steadily climb throughout the month until, on Feb 22, the price pulled back from a height of $58,330, crashing down to $48,967 in the space of 24 hours.
That’s a 16% drop, proving that Newton’s third law about every action having an equal and opposite reaction even applies to volatile crypto markets.
Bitcoin crashed earlier this week. On March 15, the price dropped from $60k to $55k, yet it’s been quick to recover from this dip.
Institutional interest in the currency is still high. On March 19 former White House Communications Director Anthony Scaramucci’s hedge fund SkyBridge Capital announced that it had filed for a Bitcoin ETF.
SkyBridge’s application is a good sign for Bitcoin’s broader acceptance in the traditional financial world. An Exchange Traded Fund lets people invest in Bitcoin through a traditional, auditable, financial instrument.
Regulatory authorities in Canada approved two ETFs last month. The first, Purpose’s Bitcoin ETF (trading under the ticker BTCC), got off to an explosive start, amassing $421 million in assets in its first weekend since it began trading. Bloomberg ETF analyst Eric Balchunas told Decrypt at the time, “It was arguably the most successful ETF launch of all time, proportionally speaking.”
In addition to the institutional interest, the whole Bitcoin network is in a robust state. On Thursday, Bitcoin miners earned a record-breaking $64 million in one day. On the same day, the market capitalization of the entire crypto market hit $2 trillion. According to Deutsche Bank, this makes Bitcoin the world’s third most valuable currency by market capitalization.
Ethereum is still struggling to reach its previous ATH of $2000 set on Feb 20. It’s currently valued at $1,845, up 1.71% from yesterday, but still shy of its $1,937 height of last weekend.
There are small increases throughout the top 20, too, with the most notable being Polkadot and Uniswap. Polkadot’s DOT coin is valued at $39.32 today. That’s 5% more than what it was worth yesterday. UNI has had the greatest increase. It grew 6.65% overnight to settle on $32.76.
Cardano is not faring well today. Despite a 20% surge following the news this week that it would be listed on Coinbase Pro, the ADA coin dropped 2.2% overnight, making its current value $1.26.
Like most weeks, the crypto market is more or less tracking Bitcoin’s performance. For crypto fans, that comes as a minor relief this weekend.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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