The struggle between the bulls and the bears is apparently behind us as Bitcoin has quickly climbed above $9100 after a pullback. The tussle that the market now faces is between altcoins and Bitcoins. While Facebook’s cryptocurrency launch restores the regulatory faith around cryptocurrencies, the spotlight that Bitcoin has been gaining from institutional investors stands out in the crowd.

Bitcoin [BTC] has risen past $9000 again as the break towards $10000 seems highly probable. At the beginning of last week, its price was looking to break bearish below $7000. However, the asset has continued to rise as institutional interest in Bitcoin has been on the rise.

BTCUSD
BTC/USD 1-Day Chart on Bitstamp (TradingView)

Opening Price: $7901

Closing Price: $9083

The weekly Loss: 14.9%

Weekly High/Low: $9388/$7516

Ethereum [ETH]

Ethereum Foundation researcher Justin Drake recently announced a tentative date for the release of the much anticipated Ethereum 2.0 Blockchain platform. According to him, the launch can be expected on January 3, 2020.

ETHUSD
ETH/USD 1-Day Chart on Coinbase (TradingView)

Opening Price: $235

Closing Price: $269

The weekly Loss: 14.4%

Weekly High/Low: $278/$227

Litecoin [LTC]

Litecoin gained impressively at the beginning of the week as the speculation before the halving on August 7, 2019, reached its zenith. The price looked to break above $150; however, the profitability of mining suggested that halving is not likely to need the increase in price.

Moreover, the increasing FOMO in Bitcoin has the potential to shadow the gains in the altcoins.

LTC/USD 1-Day Chart on Coinbase (TradingView)

Opening Price: $117

Closing Price: $135

The weekly gains 15.3%:

Weekly High/Low: $144/$112

Cardano’s ADA

Cardano’s traders looked somewhat uncertain this week. Nevertheless, it sought to break above the resistance above $0.1 again.

ADAUSD
ADA/USD 1-Day Chart on Coinbase (TradingView)

Opening Price: $0.078

Closing Price: $0.091

The weekly gains 16.6%:

Weekly High/Low: $0.099/$0.077

NEO

NEO looked highly bullish as it broke above the resistance at $13.5. It is one of the more popular platforms for smart contracts and dapps in China than Ethereum.

Also Read: NEO Price Analysis: NEO/USD Bulls Outperform Themselves Setting Grounds for Rally

NEOUSD
NEO/USD 1-Day Chart on Coinbase (TradingView)

Opening Price: $11.6

Closing Price: $14.1

The weekly gains 21.5%:

Weekly High/Low: $14.8/$11.2

The increases in Bitcoin [BTC] initially put pressure on altcoins as they lost value in terms of Bitcoin [BTC]. XRP is trading 8% lower concerning Bitcoin since the beginning of the week. The pressure on XRP can also be attributed to Facebook’s cryptocurrency announcement.

Nevertheless, the increasing market capitalization is having a positive effect on the price of altcoins as well. The total market capitalization of cryptocurrency markets is $282 billion. The percentage dominance of Bitcoin increased from 55.3% to 57.2% in the last week.

*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 16th June 2019. 

Summary

Crypto-Market Top Weekly Performers: Bitcoin, Litecoin, Ethereum, NEO and Cardano's ADA

Article Name

Crypto-Market Top Weekly Performers: Bitcoin, Litecoin, Ethereum, NEO and Cardano’s ADA

Description

Bitcoin [BTC] has risen past $9000 again as the break towards $10000 seems highly probable. At the beginning of last week, its price was looking to break bearish below $7000.

Author

Nivesh Rustgi

Publisher Name

CoinGape

Publisher Logo

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.




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