Cryptocurrency Price Analysis – week 15 and YTD (2021)

2 min read April 19, 2021
Richard Fetyko

Cryptocurrency Price Analysis - week 15 and YTD (2021)

Cryptocurrency Price Analysis – week 15 and YTD, 2021

Crypto prices surged during the week, with most coins hitting record highs.  Then they corrected.

Bitcoin nudged $65K, Ethereum broke above $2,500, Bitcoin cash rose above $1,000 for the first time in almost three years and Dogecoin soared over 300%. However, the rally across crypto markets came to abrupt halt over the weekend, on reports of a possible Treasury crackdown and a major power outage in China’s Xinjiang region.

Prices aside, the major story this week was the long-awaited listing of Coinbase – the largest cryptocurrency exchange in the US. Coinbase completed its direct listing on the Nasdaq, giving investors an additional and prominent outlet to leverage the crypto sector.  Here’s our CEO’s analysis of Coinbase financials, making a case that COIN could be valued at $500B in the next 2-3 years (currently $80B market cap).

altcoins had a huge performance until the flash crash pared back those gains.  See top 50 coins by market cap performance tab on our platform (see charts below).

Bitcoin (BTC) declined -4.6% and Ethereum (ETH) gained +5.7% (vs prior week’s +4.1% and +5.2%, respectively).​ After finally breaking through $60K and hitting new ATH ($65K), Bitcoin fell as much as (14%) on the weekend to as low as $51.5K but bounced and appears to hold its $55K support level.

Check our curated charts for examples updated daily (click on curated charts tab).

BTC price analysis 19.4.2021

Cryptocurrency Weekly performance top 50 market cap

 

Cryptocurrency YTD performance top 50 market cap

Source: altFINS.com

 

Decentralized Finance (DeFi) – Total Value Locked (TVL) increased last week to $59.4B, up 3% w/w and 260% YTD.

DeFi cryptocurrency prices were mixed (see below).  Total DeFi category market cap increased 3% last week and is up 433% YTD (i.e. ~ 5.3x).

Crypto DeFi - Total Value Locked (TVL)

DeFi cryptocurrency weekly performance

DeFi cryptocurrency YTD performance   

 

Source: altFINS.com

 

Check our unique automated chart pattern recognition for fresh trading ideas. Also, during market corrections, it’s always good to revisit coins in an Uptrend but with a pullback. Our Signals Summary has this and other pre-defined filters ready for action.

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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.