Crypto Markets Lose Hot Air, DOGE and BCH Skyrocket, 46% Chance ETH Hits $2,600 by May – Markets and Prices Bitcoin News
Digital currency markets posted modest losses Friday morning, after a large number of cryptocurrencies posted significant gains the day before. Bitcoin fell to a low of $60,042 in morning trade and lost 3% over the past 24 hours.
Cryptocurrency markets lose value after warming a day earlier
Bitcoin (BTC) has lost value in recent trading sessions. The price of BTC fell from $63,299 to $60,042, losing 5% of its value. However, the price has recovered and BTC is currently changing hands between $60,900 and $61,100 each.
BTC/USD on Friday 16. April 2021 on Bitstamp.
BTC is up 3.86% today and 2.52% for the month. The second largest market today is Ethereum (ETH), and each coin is trading at $2,374. ETH reached a high of $2,532 per Ether on Thursday night.
ETH/USD on Friday 16. April 2021 on Deribit.
Coin Finance (BNB) is down more than 5% today as it traded at $542 apiece last night and is at $522 today. XRP has experienced phenomenal growth over the past 48 hours, with XRP reaching a record high on the 14th. April reached $1.94 per unit. The XRP has now lost some of that revenue, and each coin is trading at $1.57. Cardano (ADA) is down over 3% today, with each ADA trading at $1.39 per token.
DOGE/USDT on Friday 16. April 2021.
The final contenders for the top 10 cryptos are Polkadot (DOT) at $41.40, Dogecoin (DOGE) at $0.30, Unisvop (UNI) at $35.92 and Bitcoin Cash (BCH) at $894 each. Dogecoin and Bitcoin Cash (BCH) both saw significant gains in 24 hours, with DOGE still up 130.58% and hitting new highs. BCH climbed 7.45% last night to a high of $954 on global exchanges. At the time of publication, Bitcoin Cash is trading at $874 per coin and has a market valuation of $16.98 billion.
BCH/TUSD on Financial Friday, 16. April 2021.
Bitcoin Teams More than half and $2.1 trillion, the market balance is 9,261cryptocurrencies.
Crypto stocks rose sharply during evening trading last night. The total market capitalization of cryptocurrencies has even surpassed Apple’s estimate (AAPL 2,258T). However, the crypto is just below AAPL at 2.147T on Friday after a number of coins lost value. Anton Chashchin, managing partner of Cex.io Prime Trading, says the rise in value of the crypto economy shows how powerful these new assets can be.
Such developments mean that cryptocurrencies have become an investment asset class in their own right, Chashchin said. More and more we are seeing companies, institutions and high net worth investors turn to crypto as a highly profitable alternative investment option. An increase in the number of these sensible investors looking for reliable partners will only further legitimise the sector and strengthen the market.
Cryptocurrency derivatives markets take some steps forward
Yesterday, Pankaj Balani, CEO of Delta Exchange, told Bitcoin.com News that there was a 40% chance that the price of BTC would reach $70,000 by the end of May, in our update after Mike Novogratz warned of an erosion of the cryptocurrency market. In another interview with Balani on Friday, the futures CEO explained the methodology behind his predictions and also addressed ETH prices.
The options market estimates a 40 percent chance of $70,000 and a 31 percent chance of $58,000 by the end of May, Balani writes. After bitcoin’s recent rise, implied volatility has begun to rise in the short term (April, May) and is only slightly behind the June and September expirations. The market seems to be making a big move towards factoring and we can expect realized volatility to increase further, the exchange manager added.
Pankaj Balani also gave his take on Ethereum (ETH) prices by looking at this week’s action in the futures market.
The options market values ETH with a 46% probability at $2,600 and a 29% probability at $2,100 in May, Balani told Bitcoin.com News. Most of the contracts traded today are calls at $2,300 and $2,200. In the short to medium term, there is strong demand for Ether calls. Realized volatility has overtaken implied volatility, and the imbalance between calls and puts remains large, he added.
What do you think of the action in the crypto-currency market this Friday? Let us know what you think in the comments below.
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