Welcome to our newest edition of The Weekly Crypto Update — your source for the most recent shifts in the crypto market, the latest news, and upcoming market movements.
Weekly Crypto Performance
The bears are dominating the crypto market this week. Bitcoin (BTC) and Ethereum (ETH) saw decreases of -7.29% and -10.75%, respectively, over the past seven days.
Most of the top 10 altcoins by market cap have also shown a downtrend in their value over the last week.
At Switchere, we prioritize your convenience, offering fast and efficient swaps without any hidden fees. Get your favourite cryptocurrencies quickly and easily!
Top Crypto Market News
Long-Dormant Bitcoin Worth Over $3 Million Moves After 14 Years
A notable transaction occurred in the cryptocurrency community when an early Bitcoin miner activated a wallet that had been inactive since April 23, 2010, transferring 50 bitcoins worth approximately $3.3 million.
According to Lookonchain, a blockchain analytics platform, 17 of these Bitcoins were sent to an address linked with the Coinbase exchange, while the remaining coins are still in the original wallet but under updated security measures.
Launch of Notcoin on TON Postponed Beyond Bitcoin Halving
The much-anticipated Notcoin launch on the TON blockchain has been postponed beyond the upcoming Bitcoin halving. Initially set for April 20, the Notcoin team has decided to delay the launch to refine their process and ensure a more efficient deployment.
Speaking to Decrypt, representatives from Notcoin expressed that this delay is part of their commitment to quality and strategic planning, rather than rushing to coincide with market events like the Bitcoin halving.
Analyst Predicts Bitcoin Will Hit $300,000 by 2025
Renowned cryptocurrency analyst PlanB has reiterated his bullish outlook for Bitcoin, predicting that its price could soar to $300,000 by 2025. PlanB bases his forecast on the historical performance of Bitcoin during previous halving cycles.
He advises that buying Bitcoin six months before and selling 18 months after a halving event has proven to be a successful strategy.
Despite only a modest price increase from $34,000 in October 2023 to $62,000 currently, PlanB remains confident in the significant potential for growth in the coming years.
Stay tuned for more updates and insights into the world of cryptocurrency!