Weekend Roundup: Bitcoin Holds Firm at $56,000

The weekend saw Bitcoin hold firm well above $56,000 as altcoins remained predominantly bullish over Saturday and Sunday.

Bitcoin managed to hold above $56,000 heading into the new week. Last week saw increased volatility for Bitcoin. The cryptocurrency saw major swings, leading up to $2.4 billion in liquidations on Thursday alone. Bitcoin managed to climb 4% over the weekend. However, Sunday saw the crypto remain flat, with no price movement. 

Source: Tradingview

April Could Bring Big Gains for Bitcoin 

April has historically been a good month for Bitcoin. The crypto has seen a 52.4% return in the month of April, coupled with an average increase of 74.3% increase in price at the beginning of each month in 2021. The potential for Bitcoin to surge past the all-time high is very likely. 

Top 100 Biggest Gainers and Losers 

Sunday saw Bitmax Token (BTMX) becoming the biggest loser of the day. Bitmax had previously seen a 80% surge in price over the last week. However, the dramatic sell off later on Sunday sees BTMX decline by half of its seven day gain. FIL, BTT, Cake and NPXS all saw the biggest loss on the day. Each one is still up a minimum of 22.5% for the week despite the late Sunday dump. The projects are still handsomely up for the week. 

Source: CoinGecko

Some cryptos saw recoveries after recent pumps on Sunday. Siacoin (SC), Decentraland (MANA), and Solana (SOL) all saw big gains late on Sunday. Solana has seen an impressive 33.3% gain over the last week. The project continues to see impressive growth and gains as it looks to break into the top 20. 

The impressive run is attributed to the recent announcement of the project being listed on AscendEX. Solana has also partnered with cryptocurrency exchanges MXC and OKeX to offer an additional $40 million to support the next great generation of blockchain projects and ecosystem companies building on Solana.

Among other projects to see green to end the weekend include Fantom (FTM) and Ontology (ONT).

Source: CoinGecko

What Will the Week Bring?

With the market appearing to end the week on a strong foot, it is evident that there could be more bullish action in the pipeline. With the new month starting this week, Bitcoin could be ready for the next leg upward. Many traders are speculating that April could be a big month for altcoins. Could altseason be upon us? 

Disclaimer


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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