Let’s Talk Cryptocurrencies is BullMarketz weekly update of everything that’s happened on the cryptocurrency market in the past week. We cover all the ups and downs and provide you with all the information you need to make well-informed decisions about your investments in digital currencies. This summary is not excluded to the major currencies such as Bitcoin and Ethereum but includes all digital currencies.
Find the best trading platform. You capital is at risk when trading. Be careful.For once we have a weekly crypto report that is full of positivity. The past 7 days have been blessed with a lot of gains and some new monthly and bi-monthly records. Bitcoin and Ethereum have done well, but they are currently being overshadowed by five smaller popular cryptocurrencies that have seen over 100 percent in gains in the past month. In addition, we will report on Goldman Sachs’ latest cryptocurrency effort and how they are planning to be the first major investment bank to offer cryptocurrencies. Also, the President of Venezuela has started a crypto backed bank that will support the youth and their projects.
Ethereum briefly passed the $800 mark on Friday. It was the first time since early March that Ethereum has made it up to those levels, and to many, it’s a sign of the potential the asset holds for the near future. According to some analysts, there is a bull run around the corner even though ETH has dropped quite a bit since and is currently selling for $720.
At the same time as ETH passed $800, Bitcoin was inches away from breaking $10,000. Even though BTC never made it across the magical line, it did further confirm the fact that it seems like the market is turning.
In April five cryptocurrencies made over 100 percent gains on the market and it’s some of the best numbers we’ve seen all year. EOS experienced the most impressive journey and grew by 193 percent during the month of April, tightly followed by Tron at 176 percent, and Cardano at 119 percent. OmiseGO and Stellar came in fourth and fifth place in April at 105 and 104 percent respectively.
A former Norwegian cryptocurrency exchange, Bitmynt AS, lost a lawsuit against the Scandinavian bank Nordea. The lawsuit, where Bitmynt AS’s founder sued Nordea for closing down the exchange’s bank account, was the first of its kind in Norway. The court ruled in favor of Nordea, stating that they didn’t think Bitmynt or its owner was safe enough.
Goldman Sachs will start offering customers access to Bitcoin futures. Last week we reported that Goldman Sachs had made their first ‘cryptocurrency hire’ and now they have announced that they will, in fact, start offering Bitcoin futures. According to the current setup, Goldman Sachs will use its own money to buy Bitcoin futures on the behalf of their customers.
The Venezuelan President has opened a youth-oriented Crypto Bank backed by the infamous Petro dollar. According to the president, the new bank will be founded with 20 million Petros, and it will be used to support youth projects and initiatives.
For more day trading news and investment advice, we recommend that you check out our weekly trading segment called Let’s Talk Business where we cover the latest developments in all major markets.
Find the best trading platform. You capital is at risk when trading. Be careful.