The past year saw a lot of ups and downs in the digital asset market. Thankfully, the struggle between the bears and the bulls is behind us as market leader Bitcoin has climbed above $9100 as of press time after going through a pullback. The tussle for superiority that the market currently faces is between Bitcoin and altcoins. While Facebook’s crypto launch restores is believed by a section of the crypto space as a move that brings regulatory faith in virtual currencies. Although there’s concern about the proposed GlobalCoin. Many are worried about its impact on Bitcoin.
Let’s see the best performing cryptocurrencies for the past week
Bitcoin Leads Having Moved Over $9k
Bitcoin has managed to rise past the $9000 position again as it breaks toward $10000. The price of Bitcoin began the last week at just over $7k. At the time the coin was looking to break through the bearish pressure and move past $7000. It got to $7901 at the start of this week and began to rise. The asset class continued to extend its rise as the amount of institutional interest in Bitcoin grew. Now Bitcoin is trading at $9083 which is the same point that it closed the week at.
Ethereum’s ETH 2.0 Launch Announcement Gave the Price of ETH a Push
In recent reports, Justin Drake a researcher at Ethereum Foundation announced the date that has been scheduled for the release of the highly anticipated Ethereum 2.0 Blockchain platform. According to the Blockchain researcher, the launch should be expected on January 3 of next year. Ethereum price began the week at $235 and ended the last week at $269.
Litecoin Halving Gave its Price a Push
Litecoin price gained impressively when the week started as speculation before the halving event grew. In the end, the network announced that it will be commencing with the event by August 7, 2019. The price of Ethereum looked to break past $150. However, the coin’s profitability of mining finally suggested that halving isn’t likely going to increase the price of ETH.
Additionally, the increasing FOMO in BTC has potential to shadow gains in altcoins. Litecoin opened trade at $117 and ended the week at $135.
Cardano Soon to Breakout From $0.1
Events that have been happening with Cardano hasn’t been favorable. Cardano’s traders had begun the week looking somewhat uncertain. Nevertheless, the coin’s price sought to break over the resistance at $0.1 once again. The price of Cardano at the start of last week was $0.078. It managed to end the week at $0.091. Meaning it saw weekly gains of about 16.6%.
NEO Began the Week Bullish
NEO is another top digital asset project. It initially looked highly bullish when the week started which saw it break over the resistance position at $13.5. NEO began the last week trading at $11.6. It managed to stay bullish for longer periods and ended up trading for the week at $14.1. NEO is reportedly one of the top popular platforms in China particularly, when it comes to smart contracts and dapps compared to Ethereum.