- >Price Check: Did Someone Say Dip? BTC, ETH Fall From All-Time Highs
Price Check: Did Someone Say Dip? BTC, ETH Fall From All-Time Highs
If you are like me and have price alerts on your phone for crypto assets, then you likely got a slew of notifications indicating the sudden drop in price of almost the entire crypto market. Bitcoin fell by over $6k in less than an hour, leading to a cascading effect on the whole market.
Almost every asset lost about 10% in value overnight, but in terms of weekly growth there are still many assets in the green, some of them keeping their momentum even while Bitcoin fell. This could be a great buying opportunity for those with the means to do so.
Evan Jones | Apr 19, 2021
In this weekly segment we will be looking at the top gainers and losers of the week. This will be done in terms of dollar value with a focus on percentage gains of coins within the top 100 by market capitalization. The fast growth of the crypto and blockchain industry in 2021 means that there are more assets than ever that deserve attention and are experiencing notable gains and losses.
Each week we will also take a look at Bitcoin’s performance, and how it has performed both compared to last year at this time, and its comparative performance to the Dow Jones and S&P 500 Index.
Let us look at the biggest winners and losers of the past week.
Biggest Dollar Increases
The sudden drop by Bitcoin certainly changed the way this section was shaping up for the week, but we still have a lot of assets in the top 100 that have had very good overall weeks even with the drop in Bitcoin’s price and that effect on the market. Here are the biggest gainers from the past week:
- Dogecoin (DOGE), ranked 6th, has gained over 420% this week after gaining 20% last week and is trading at just over 36 cents a piece. This is an absolutely enormous move by the memecoin that had it in the top 5 at one point.
- Bitcoin Cash (BCH), ranked 10th, has had a very nice week with over 31% gained and is now trading around $895.60 a piece.
- Chainlink (LINK), ranked 12th, has gained just about 10% and is trading around $36.19 a piece.
- VeChain (VET), ranked 13th, has gained over 73% after gaining 22% last week and is trading at about 23 cents a piece and reaching an all time high of over 27 cents a few days ago.
- Solana (SOL), ranked 19th, has gained about 10% and is trading around $30.64 a piece.
- Neo (NEO), ranked 21st, has gained almost 70% and is trading around $104.78 a piece.
- Bitcoin SV (BSV), ranked 26th, has gained over 13% and is trading around $297.77 a piece.
- Ethereum Classic (ETC), ranked 35th, has gained over 65% after gaining 26% last week and is trading around $32.59 a piece.
- THORChain (RUNE), ranked 41st, has gained just under 30% and is trading around $14 a piece.
- Maker (MKR), ranked 42nd, has gained about 35% and is trading around $3,283.16 a piece.
- Siacoin (SC), ranked 58th, has gained over 51% and is trading around 4 cents a piece.
- Nexo (NEXO), ranked 61st, has gained just under 10% and is trading around $3.29 a piece.
- DigiByte (DGB), ranked 62nd, has gained over 50% and is trading at just under 13 cents a piece.
- Yearn.finance (YFI), ranked 66th, has gained over 10% and is trading around $47,517 a piece.
- Qtum (QTUM), ranked 67th, has gained over 16% and is trading around $17.65 a piece.
- Ontology (ONT), ranked 69th, has gained over 12% and is trading around $2.08 a piece.
- Nano (NANO), ranked 78th, has gained over 60% and is trading around $9.53 a piece.
- IOST, ranked 82nd, has gained over 20% and is trading around 7 cents a piece.
- Horizen (ZEN), ranked 90th, has gained over 23% and is trading around $93.75 a piece.
- Verge (XVG), ranked 96th, has gained about 34% and is trading around 5.5 cents a piece.
Biggest Dollar Decreases
With the big drop by Bitcoin this week, this section could almost be endless, many assets lost over 20% and almost all of them lost at least 10% if they were not one of the lucky ones in the increases section. Here are the biggest losers from the past week:
- Binance Coin (BNB), ranked 3rd, the native token of Binance Exchange has lost almost 15% after gaining over 49% last week and is trading around $484.57 a piece.
- Polkadot (DOT), ranked 7th, has lost over 14% after losing just over 10% last week and is trading around $34.41 a piece.
- Uniswap (UNI), ranked 11th, has lost over 10% and is trading around $29.88 a piece.
- Stellar (XLM), ranked 14th, has lost over 14% and is trading around 49 cents a piece.
- THETA, ranked 16th, has lost over 12% and is trading around $10.46 a piece.
- Klaytn (KLAY), ranked 23rd, has lost another 19% after losing 20% last week and is trading around $2.35 a piece.
- Tezos (XTZ), ranked 33rd, has lost over 10% and is trading around $5.65 a piece.
- Cosmos (ATOM), ranked 34th, has lost over 11% and is trading around $19.31 a piece.
- Avalanche (AVAX), ranked 40th, has lost over 17% and is trading around $26.15 a piece.
- Kusama (KSM), ranked 43rd, has lost just over 11% after losing 7% last week and is trading around $369.01 a piece.
- Huobi Token (HT), ranked 44th, the native token of Huobi Exchange has lost over 17% after gaining 20% last week and is trading around $17.03 a piece.
- Elrond (EGLD), ranked 46th, has lost over 21% after gaining over 32% last week and is trading around $174.45 a piece.
- Holo (HOT), ranked 50th, has lost just over 16% after losing 30% last week and is trading at just about 1.6 cents a piece.
- Synthetix (SNX), ranked 62nd, has lost just under 15% and is trading around $16.12 a piece.
- Basic Attention Token (BAT), ranked 64th, has lost over 12% and is trading around $1.24 a piece.
- NEAR Protocol (NEAR), ranked 70th, has lost just under 30% and is trading around $4.75 a piece.
Will Bitcoin Bounce Back?
Bitcoin fell over 10% in a very short period of time leading into the weekend, now only down about 8% on the week and trading at a little over $55k. Obviously, investors and hodlers alike are hoping that this was just a blip on the radar and that Bitcoin will just bounce back, but that remains to be seen. The next week will likely be volatile, but it may also present good buying opportunities for those who are able.
Bitcoin is currently trading around $55.2k, still beyond overshadowing its price from this time last year. On April 19, 2020, Bitcoin was trading at just over $7.1k, so it is almost 8x higher than it was last year at this time.
Bitcoin Loses to Traditional Markets for First Time in a While
With its over 8% lost by Bitcoin this week, it has finally had a notably worst week than the traditional markets. The Dow Jones Industrial Average and S&P 500 Index were both able to gain a modest single percentage over the past week, meaning that for the first time in a long time, Bitcoin really did not outperform the traditional markets. We will see what the next week has in store.