Weekly crypto digest by changehero

In our weekly crypto digest for today, ChangeHero team, as usual, will bring you up to date on the latest crypto news. We will also analyse the cryptocurrency market and make a top coin digest. Dive right in!

Latest Crypto News

In terms of crypto-related news, it was quite an interesting week. Despite the fact that everyone was watching Bitcoin, there are way more stories which we will also cover in this crypto digest!

Bitcoin News

  • BTC price update:
download  1  - Crypto Digest: BTC Shrugs Dips, Continues Rally
Source: Tradingview
  • Last weekend, Bitcoin dipped to $14,600 after being rejected from the $15,600 level. However, after that, the week was great for the BTC price. On Monday, it was rejected from a higher level, $15,800, again, but immediately after that, started climbing. Yesterday it hit $16,000 and closed the day above the mark. 
screen shot 2020 11 13 at 5.39.50 pm 480 - Crypto Digest: BTC Shrugs Dips, Continues Rally
Source: Tradingview
  • Technicals on TradingView put BTC in the “strong buy” area, so that just about answers the question which cryptocurrency is the best to buy now;
  • By the way, it means that right now Bitcoin has not only renewed a 2020 highest price, but also reached a level which has not been reached since January, 2018. Getting closer to renewing the ATH!

Crypto News on Adoption

pp crypto5 hq 720 - Crypto Digest: BTC Shrugs Dips, Continues Rally
Source: paypal-corp.com
  • PayPal opened up crypto purchases for eligible app users in the US. At launch, it supports Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The feature was highly requested and rolled out due to an overwhelming demand. However, as with all currencies in PayPal accounts, the Bitcoins are not transferable outside of the accounts. On the other hand, you can now pay to 26 million merchants that use PayPal in crypto!

Tech Crypto News

  • Ethereum Foundation announced a grant program for the community members that will develop onboarding solutions for stakers. The network launches soon, so it is better to prepare the stakers who will be securing the network for doing their job.

Regulation & Politics Cryptocurrency News

  • Pfizer made a press release about a newly developed COVID-19 vaccine candidate at the start of this week. The stock market reacted with strong changes, with some assets surging and some dropping. The time of the announcement coincides with a Bitcoin dip previously mentioned in the crypto digest. Interestingly enough, gold also dipped, which can signal the hopes of investors to return their money from safe havens.

Twitter Crypto Digest

This Sunday, the BCH network is set to split in a hardfork. In the wake of the event, it seems that there is extra selling pressure on the currency. Users sell off the currency that is set to split for the second time since 2018.

Speaking of hard forks, a few days ago the Ethereum chain accidentally split. The was an unannounced geth client upgrade. It caused several services to experience technical difficulties or stop working completely. This event has made the community members concerned about sharding on Ethereum 2.0.

If you thought institutional investors buy only Bitcoin, you may be surprised! Jump Trading, a Wall Street trading company, has been accumulating Ethereum tokens and altcoins. Their $75 million crypto portfolio includes COMP, BNB, HT, MKR and, of course, BTC and ETH.

Influencer of the Week

Technical analyst, Twitter blogger and Youtuber Nicola Duke makes posts on a very wide spectrum of themes. Of course, he often provides technical analysis insights on cryptocurrencies, but also comments on the news significant to the markets. Not the last item on the list, but he has a great sense of humor, too!

Top Crypto Digest: Price Change

At the moment of writing the crypto digest, the market’s dynamics for the last 7 days are the following:

  • Total Market Cap: $449,356,020,969 (+5.56%); 
  • BTC Dominance: 67.07%.

7d Top Coin Digest

coin360  1  1024x507 - Crypto Digest: BTC Shrugs Dips, Continues Rally
Source: Coin360

At the moment of writing, the 7-day change of the top currencies is the following:

Gainers of the Week on ChangeHero

What is the fastest growing cryptocurrency right now? At the time of writing this crypto digest, the top three are:

  • LOOM Network (LOOM) $0.029147 (↑54.14%);
  • Uniswap (UNI) $3.27 (↑36.57%);
  • NEM (XEM) $0.133159 (↑19.29%).

This top coin digest list includes the coins that can be traded and exchanged on ChangeHero. You can buy and sell some of them (BTC, ETH, BCH, BSV, TRX) with your credit card on our website, too. Either way, it will not take more than 15 minutes, and we will find the best rate on the market for your purchase.

Summary

That was the crypto and top coin digest for the past seven days. Don’t forget to give us a follow on Twitter, Facebook, Reddit and Telegram for more news and informative content!

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banner weekly digest1 720 1 - Crypto Digest: BTC Shrugs Dips, Continues Rally
Article Name
Crypto Digest: BTC Shrugs Dips, Continues Rally
Description
This week in the crypto digest, Bitcoin hit $16,000 recording the highest mark for 2020. An update on Ethereum accidentally split the chain.
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Lauro
Lauro
10 days ago

Feds will be shocked to see the news when bitcoin hit 20K again. Soon to happen