Bitcoin
Weekly changes: BTCUSD -7.66%
What a week it's been Bitcoin managed to go above $40000 but failed to gain a stronger hold at this position dropping back down to a low price of $29000 before returning back to $34000 levels. As of 20/06/2021 bitcoin was trading at $35500 and it's capitalisation is at $669 billion that is according to CoinGecko.
Altcoins weekly performance
Over the past week most altcoins also fell sharply in price with Ethereum droping nearly 10% in only three days with others like BNB down by 6% and Cordano down by 7%
IMPORTANT TO NOTE ABOUT THE MARKETS
There is at least se key factors that we can take into consideration as we prepare for this week of trading on the Crypto markets. At the moment the market is maintaining a balance between supply and demand, with no one in a real hurry to sell iether witch could show support for BITCOIN. Still there are positions being gained in a uncertain and nervous manner. That will make a sideways market or otherwise known as a effective market the more likely outcome in the week to come. When the power of the sellers and buyers are in ballance. With the market not having enough positive or negative information to determine the future trend of the markets.
THE BANKS AND GOVERNMENTS
With Central Banks and Governments of developed countries around the world demonstrating a negative energy when it comes to the attitude towards Crypto markets strengthening the market regulations. This could show the end of the growth cycle for Crypto market coming to an unfortunate end.
This is more noticeable when we see the big countries like the United States of America, China and the United Kingdom all launched the attack on the Crypto markets and this could just be the begining as we see the fight against digital assets and the powers that control the financial systems around the world. This will only increase the pressure on the Crypto markets and the price drops.
MASS ADOPTION IS KEY
mass adoption is the most important thing for Crypto markets and the prices are subject to the growing community. We need to see more product promotions and increased usages of blockchain and Crypto on a whole to be able to have a more deeper positive outlook on the future of the markets. But for now we wait and see what will happen next.
Thanks for taking the time to read my article. Brought to you by Derbycuzxrp till next time.......
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