Bitcoin And Crypto Market Roundup For The Week Gone By

Bitcoin is once again approaching $11K, after swiftly recovering from a drop alongside stocks and gold early last week.

The leading cryptocurrency fell to $10K before bouncing amidst bullish headlines, including news that British overseas territory Bermuda had approved a Bitcoin ETF. Although not on U.S. soil, the event has created a stir among traders, who have long anticipated that a Bitcoin ETF listing could trigger a meteoric rise like the one that followed the first Gold ETF in 2003.

Ahead of Bitcoin, little brother Ethereum recovered even faster from the fall. The second-largest cryptocurrency has pushed up almost 3% over the last seven days as it races to catch up with the week’s biggest winners — Cardano and Tezos.

How To Get Free Crypto  

This Week’s Highlights

  • Cardano Climbs Above $0.10
  • Tezos Rides Tokenized Art Trend

Cardano Climbs Above $0.10

A surprise ask-me-anything session with Cardano founder Charles Hoskinson catalyzed a 20% surge for the platform’s native token, ADA, last week. In the session, Hoskinson shared details of the upcoming network upgrade, Goguen. This represents a big step forward as it will allow developers to build decentralized applications (dApps) on Cardano.

Bullish Cardano sentiment has been bolstered further by news that IOHK, the company behind the platform, is working with the United Nations to incentivize the development of blockchain projects aimed at boosting sustainability.

Tezos Rides Tokenized Art Trend

The self-governing smart contract platform Tezos has risen almost 7% over the last week.

As one of the leading tokenization platforms, the rally could be related to rising interest in non-fungible tokens (NFTs). These on-chain crypto-collectibles and unique art pieces have garnered increased attention in recent weeks amidst the DeFi boom.

Aside from hosting digital artwork, Tezos could also be helping small Chinese businesses to build and deploy blockchain apps. China’s government-backed blockchain infrastructure initiative, the Blockchain Service Network, announced this week that it has now fully integrated Tezos.

Coinbase Banner  

The Week Ahead

Although September has been a relatively quiet month, some suggest this is a bullish sign, with data from Messari showing that Bitcoin has never before managed to stay above five figures for so long.

This buoyancy is particularly impressive given the recent KuCoin hack, which could continue to impact crypto markets in the coming week as hackers seek to offload more than $150M in stolen funds. 

As we move into October, the impending U.S. election is likely to dictate price action across global markets, along with fears of a second wave of coronavirus cases. This could come to a head-on Friday when the latest jobs report will give fresh insight into the state of the economy.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

FreeBitcoin Banner  

Go to Source
Author: Bitcoinist

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.