The price of bitcoin has fallen about 8% over the past seven days, but prices began to improve midway through the trading sessions on Friday. Today, bitcoin is trading between $54,400 and $54,800 each, and the market is worth $1.02 trillion. The total market capitalization of all the more than 8,500 coins that existed Saturday morning is about $1.59 trillion.
- Bitcoin (BTC) prices improved slightly after falling $57,207 to a low of $50,360 on Thursday. BTC is up over 3% today, but is down for the week of the 27th. March 2021 drops by 5%. Bitcoin’s dominance among all other coins combined is about 59.3%, while Ether (ETH) takes 11%.
- Bitcoin continues to rise by more than 16% on the month, 109% over the last three months and 763% against the U.S. dollar on the year.
- The most traded bitcoin (BTC) pair today is Tether (USDT), which dominates 55% of crypto asset trading. It is followed by the USD (16.85%), BUSD (5.92%), JPY (4.19%), EUR (3.84%) and KRW (2.38%).
- This week, the crypto-currency community was thrilled to hear Elon Musk announce that electric car company Tesla will now accept BTC for purchases. Nick Jones, CEO of digital wallet and payment platform Zumo, thinks other brands will join Tesla as pioneers.
- We are pleased that Tesla is now accepting bitcoin as a payment method for its products, Jones said. The increase in institutional investment and market support for cryptocurrencies through these tokens is an important indicator of not only their long-term value, but also their current relevance. Knowing that more than half of crypto owners in the UK have bought the currency in the past six months, I imagine more brands will follow suit, the Zumo CEO adds.
- At the time of publication, the second largest crypto asset by market capitalization, Ethereum (ETH), is trading at $1,686 per unit and is up more than 3 percent year-to-date. ETH is behind the cap and Finance Coin (BNB) is trading in fourth place at $254, up 2.5% over the past 24 hours.
- Bitcoin Cash (BCH) is in 11th place on the market today, with a price of $495 per BCH. Crypto assets are up 0.64% today, 6% in a week, 0.21% in the last 30 days and over 48% in the last three months.
- The two best players of the day are chatkine (CHAT) and stakebet (XSN). The two biggest losers on Saturday morning were Selfkey (KEY) and Cerebral Cortex (CTXC).
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What do you think of all the market action this week as crypto traders head into the weekend? Let us know what you think in the comments below.
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