Bitcoin Price is down 1% this week after dropping around $1,000 last week. The drop comes in stark contrast to what some high-profile analysts had predicted. Investors have been waiting patiently to regain the all-important $10,000 support level.
Ethereum is up 5% this week after being down around 8% last week. The price rise comes as Ethereum regains some momentum. Steve Wozniak came out as a bull this week saying Ethereum could be “as influential as Apple”. The Enterprise Ethereum Alliance also launched a new platform with some important features aimed at developers.
The entire crypto market remained flat this week after falling almost 10% this week. The move comes despite strong performances from several Altcoins and strong expectations due to historic price performance during Consensus with the conference normally resulting in double or triple digit price increases.
Zcash Price up 50% on news of Gemini Listing: Zcash, the 21st-largest cryptocurrency with a market cap of more than $1.4 billion, jumped more than 50% this week, according to CoinMarketCap, pushed by the news that the Gemini exchange will list the cryptocurrency next week.
Bitcoin Price to Hit $50,000 in 2018 – BitMEX CEO: Arthur Hayes, the co-founder and CEO of Seychelles-based BitMEX, the bitcoin mercantile exchange, has a bullish prediction for the bitcoin price, which he believes will skyrocket to $50,000 by year-end 2018.
Coinbase Building More Products for Whales: Coinbase announced a partnership with an SEC-regulated broker-dealer for third-party auditing and financial reporting validation. The custodial product offering maintains a high standard of reporting validation that institutional firms require in broker-dealer relationships.
‘Big Short’ Investor Bashes Bitcoin: Wall Street veteran Steve Eisman rose to fame by shorting the sub-prime mortgage market ahead of last decade’s financial crisis. He’s arguing that only use cases for cryptocurrency are speculative investing and money laundering.
Indian Cryptocurrency Exchanges Fighting Back: Following the Reserve Bank of India’s blanket ban on purchasing cryptocurrencies last month, the exchanges are fighting back. While some are outright ignoring the banks statements, others are moving from Crypto-Fiat to Crypto-Crypto trades.