Monday, February 22, 2021

Feb 15 - 22 Good Crypto Weekly Market Summary

Quick weekly news:

  • Bitcoin and Ethereum Up As Binance Coin Becomes 3rd Largest Cryptocurrency: Read more here.
  • Bill Gates Has Taken a Neutral View on Bitcoin: Read more here.
  • Fortune 500 firm Geely to launch joint blockchain venture in China: Read more here.

Other notable events include:

- Bull and bear case for ETH

- Ebang will start mining bitcoins

ETH

Ether continues to set new all-time highs as it charts a course to $2,000. The markets reporter from CoinDesk says that, looking at signs, the cryptocurrency may be overleveraged in the derivatives market and is heading towards a patch of volatility. That said, other indicators show ETH could continue to climb – coins are leaving exchanges and the number of active addresses is increasing.

Mining mania

Nasdaq-listed Ebang will start mining bitcoins using its own machines and competing brands. There’s something of a tried-and-true method for mining manufacturers to turn on their own rigs or invest in mining pools, though these operations often run into problems during market downturns. In one sign of mining mania reminiscent of the 2017 bitcoin bubble, a Hunan, China-based tea retailer announced a “critical strategic expansion” into crypto mining.

Also, be sure to check out top altcoin gainers and losers of the week:

https://preview.redd.it/p7tm2nyb62j61.jpg?width=1200&format=pjpg&auto=webp&s=4435aac6b2f19425615beeb9171952c96f20771b


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