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Bitcoin (BTC) trades around $ 61822.06 from 20:00 UTC (16:00 ET). The decrease of 2.62% over the previous 24 hours.
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Bitcoin 24 Hour Series: $ 60,033.53- $ 63,850.25 (CoinDesk 20)
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BTC trades between its averages of 10 hours and 50 hours on the hourly chart, a sideways signal for market technicians.
Bitcoin is slowly recovering from the news about Turkey’s upcoming payment ban on cryptocurrency, which caused the number 1 cryptocurrency to fall through market capitalization to nearly $ 60,000 before US markets opened on Friday. The ban takes effect on April 30.
“Today’s weakness is mostly attributed to accelerated profit-taking after news broke that Turkey was banning crypto payments,” Edward Moya, senior market analyst at OANDA, told CoinDesk in an email. “The biggest fear for many cryptocurrencies has always been that big governments may impose severe restrictions on cryptocurrencies.”
The profitable behavior was also observed in the trading activity, where the daily trading volume on eight exchanges followed by CoinDesk increased from the previous day.
Related: Money rethought – April 24, 2021
“The situation in Turkey is quite unique as the government is doing everything in its power to stabilize their currency,” Moya said. “A lot of people on Wall Street believe that the lira could fall by more than 10% in the short term, forcing Turkey to exercise capital controls and now also delay liras going into bitcoin.”
CoinDesk Global Macro Editor Emily Parker said on CoinDesk TV’s “First Mover” program on Friday: “Crypto can not really be stopped. You can make it much harder to access, but no government has been able to turn off crypto completely successfully. ‘
Ether and altcoins
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Ether (ETH) trades around $ 2,433.00 from 20:00 UTC (16:00 ET). The decrease of 2.48% over the previous 24 hours.
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Ether’s 24 Hour Series: $ 2,306.59- $ 2,547.94 (CoinDesk 20)
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Ether trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians.
Ether moved with bitcoin on Friday after hitting a new record price of more than $ 2,500 a day ago following the implementation of the hard fork upgrade in Berlin.
Meanwhile, the star of altcoins Friday is dogecoin (DOGE), the meme sign born as a joke in 2013.
Related: All about Bitcoin – April 23, 2021
At press time, dogecoin of $ 0.35 changed hands, rising 160.67% over the past 24 hours.
According to CryptoCompare, the trading volume of DOGE is another sign of a bullish sentiment around the Shiba Inu-proposed cryptocurrency, the most traded cryptocurrency on centralized exchanges.
According to IntoTheBlock’s newsletter on Friday, the number of addresses that dogecoin held for less than a month reached a record high in February and continued to rise in March and April.
US-based crypto-exchange giant Coinbase, which became known this week, has not yet listed dogecoin, despite huge demand.
“With the WallStreetBets and GameStop saga showing a clear anti-Wall Street tone among retail investors, DOGE seems to have grabbed a lot of imagination as an almost ‘anti-crypto’,” said Richard Delaney, senior content writer at OKEx Insights , told CoinDesk. , referring to the Reddit forum “In this context, heavy promotion of people like Elon Musk, Mark Cuban and an army of YouTube and TikTok influencers stimulates the current dogecoin craze.”
But as Du Jun, co-founder of another popular crypto exchange, Huobi, warned, there are risks surrounding the beloved meme token. Despite the growing interest from new investors, DOGE holders are still strongly concentrated in the top 10 addresses, accounting for approximately 41.35% of all dogecoin in circulation.
Read more: Coinbase misses Dogecoin offer as Meme Token events 6,000% + on Binance
Other digital assets on the CoinDesk 20 are mostly in the red Friday. Notable winners from 20:00 UTC (16:00 ET):
Notable losers:
Other markets
Shares:
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Asia’s Nikkei 225 closed 0.14% higher.
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The FTSE 100 in Europe increased by 0.52%.
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The S&P 500 in the United States closed 0.36% in the green.
Commodities:
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Crude Oil (WTI): -0.57% to $ 63.10 / barrel.
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Gold: + 0.65% to $ 1,774.96 / oz.
Treasurys: