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Bitcoin Price Booms, App Launches and Acquisitions: This Week in Crypto

Last Updated March 4, 2021 4:04 PM
Jake Sylvestre
Last Updated March 4, 2021 4:04 PM

Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition of The CCN.com Podcast on iTunes  or wherever you get your podcasts .

Also make sure you check out last weeks interview with Bridge CEO Stephen Hyduchak.

Price Watch:

  • Bitcoin increased nearly 18% this week after months of slow decline. The price peaked at just over $7,500 Opinions are mixed on wether or not this trend will continue. BitMEX  CEO Authur Hayes said in an interview with CNBC  this week that prices would likely go higher, but not hit $10,000. He further explained that he “would like to see us test $5,000” for the currency to really bottom out. The opinion sharply contrasts with that of long time bear Barry Silbert who speculated that Bitcoin’s price had finally bottomed. He’s attributed this to a large influx of institutional money, which now makes up 56% of the nearly $248 million invested in the GBTC . Other bulls include former Goldman Sachs executive Christopher Matta who speculated that Bitcoin could see $15,000 this year and Billionaire Marc Lasry who speculated Bitcoin could see $40,000 within a few years.
  • Ethereum is up 5% this week to $466.65. The currency hit the crucial $500 level before falling back down to $466.65 resulting in the respectable gain we saw this week.
  • The Entire Market Cap is up 11% this week following large price increases by Bitcoin and a mini-bull run across the entire market. Stellar, which was also awarded Sharia certification this week, increased by nearly 35% before sliding nearly 10% as the market receded. This phenomenon is representative of a larger trend across the market which affected TRX, XRP, ADA, and EOS among others. It’s also noteworthy that CoinMarketCap has removed it’s volume requirements for cryptocurrency exchange listing.



Crypto Giants: