Liam Frost · 2 days ago · 2 min read
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Ethereum has found itself caught within a firm and unwavering uptrend throughout the past 48-hours, with Bitcoin’s surge past $7,000 providing ETH with some significant momentum that has allowed it to outperform the aggregated market.
The Bitcoin price has made a V-shape recovery from $3,600, following a capitulation-esque fall on March 12.
Many cryptocurrency projects within the industry are still suffering from the significant downturn the market suffered during Black Thursday.
If you were in the crypto space between 2017 and 2018, you likely remember the trend of so-called “cryptojacking” — the act (some would say it’s more of an “art”) of hijacking computer systems, from cell phones to beefy desktop computers, to mine cryptocurrencies.
Many embattled cryptocurrency investors have been pinning their hopes for 2020 being a positive year for Bitcoin on its widely lauded stock-to-flow (S2F) economic model, which suggests that the benchmark crypto could be trading at roughly $100,000 by 2021.
Over the past few days, bullish pressure has been building for Bitcoin; all throughout the last two weeks, the cryptocurrency has been forming an uptrend, registering a consistent series of higher lows and higher highs.
It’s no secret that 2020 has been a crazy year for the crypto markets, with Bitcoin incurring an intense and unwavering uptrend throughout January and February, before erasing all of these gains and nearing its 2018 lows in a sharp movement seen on March 12th.
The Ethereum price increased by 16 percent on the day against the United States dollar.
It would be fair to say that Bitcoin didn’t perform too well in March.
If you have followed the Bitcoin market for any stretch of time, you likely know of PlanB, a pseudonymous quantitative analyst that has garnered immense clout in the crypto-asset space.
Gemini announced that it will be listing Basic Attention Token to its retail platform for United States cryptocurrency investors.
IOHK’s product managers have said that the Shelley Incentivized Testnet (ITN) has been a huge success, with over 1000 stake pools created and 38 percent of the ada (ADA) supply delegated.
Ever since Bitcoin’s capitulatory drop to lows of $3,800 seen in mid-March, investors and analysts alike have all been attentively watching for signs that these lows will ultimately mark a long-term bottom.
StormX, a gamified microtask platform that allows users to earn cryptocurrencies, has announced the launch of its rewards program.
Some say the timing was coincidental, but Bitcoin and the entire crypto ecosystem was born seemingly in response to the issues in traditional finance exposed by the 2008’s Great Recession, during which banks holding billions of dollars started to collapse.
The rapidly spreading Coronavirus has sent far-reaching shockwaves around the globe, creating a ripple effect that has led to a mass cancellation and postponement of highly anticipated crypto conferences.
Considering Bitcoin fell by nearly 50 percent during a single day in March, it may be easy to assume that interest in the cryptocurrency market is low; this would make sense, for a multi-billion-dollar asset to lose half of its value within a day would normally send consumers running for the hills.
Bitcoin saw a notable price surge late-last week that allowed it to surmount the resistance it was facing at $7,000 and run to highs of $7,300, which is the point at which it lost its momentum and incurred a notable rejection.
Some of the most prominent crypto companies in existence are now facing a torrent of coordinated class-action lawsuits, which accuse them of issuing and selling unregistered securities to unsuspecting investors.
The events occurring throughout the early-part of 2020 have rattled the global economy, with mounting COVID-19 infection rates and soaring unemployment damaging all major markets – ranging from stocks and commodities to cryptocurrencies like Bitcoin.
There’s no doubt that Ethereum is an integral piece of the crypto market, with the massive amount of Dapps and platforms being built upon its blockchain accounting for important infrastructure within the industry.
Many tout Bitcoin and cryptocurrency for their uncorrelated natures, their ability to simply not care what the rest of the world is doing.
The cryptocurrency market has gone through a bullish impulse that saw many cryptos rise substantially, including Ethereum.
Bitcoin showed a tight correlation with the United States stock market for about two weeks from March 12, raising concerns among investors that cryptocurrencies are just as vulnerable to a financial crisis as stocks and other high-risk assets.