Hi guys, it’s a new week, and what better way to start it than with a little market review.
Crypto Weekly is a weekly writeup that focuses on BTC, ETH, and EOS, with regards to how the market fair, be it good or bad, we try to break it down as simple as possible and also summarize any news worth mentioning.
BTC still claiming bullish trend after a considerable drop in its price the previous week, while the crypto space experienced yet another market downtime, BTC was seen to move to a low of $10k after weeks of trading above this figure.
Crypto enthusiasts are still claiming the bullish trend is yet to be over and these are all market corrections needed if BTC will truly experience a significant move.
A market correction is bound to come once in a while and when it happens this frequently, it is far more better than seeing a drop in 20% or 30% of such assets.
As usual, the market is cheering for BTC and claims are already linking the next rally to that of 2017 and reports are claiming this will be more favorable than any we have ever experienced.
Taking a walk down the memory lane, it was around this time 2017 we experienced a bull run the market has never seen and many claims this year will be far better than its previous.
That said, users are always advised to do their own research before investing in any digital or offline platform.
Road to 400 and beyond? Or simply just a little rebound?
After a dump in its price some few weeks back, ETH is slowly taking over the market once again, climbing from a low of 330 to a high of 387 and currently with a support of 360, the market sure is looking bullish once again with the different announcement of Defi becoming stronger than ever.
If you have been following the recent development surrounding the Blockchain, many are linking Ethereum price climb to Defi been built on it. This brought a significant increase in the price of ETH even with transaction fee going as high as $90, there was simply no stopping it.
That said, the Ethereum blockchain is far from better and while transaction cost might have gone than a little, the fees are still outrageous when compared with other networks, and users are hoping for any change to come anytime soon.
Speaking of undervalue, EOS might actually be leading this section, while various calls are seeing EOS below the $5 price as a great investment opportunity, for some reason, EOS just refuses to climb above the $3 mark while other altcoins continue to see a new high.
Over the past couple of weeks, we have seen different platforms coming out with claims of creating Defi on the EOS blockchain, with some already operational and others not so much but for some reason, no price movement is seen on EOS as it continues to remain stable around the $2.7.
While the EOS community continues to hope for a change to happen anytime soon, EOS as a coin continues to remain stagnant.
As usual, users are advised to do their own research before investing in any digital or offline platform.
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This is all for today and until some other time, stay safe.