Negatives And Positives of Sunday the 18th April’s Crypto Crash

Bitcoin Cryptocurrency Ethereum News

The event namely Coinbase becoming a NASDAQ listed company triggered a boost towards values of each cryptocurrency of the world. The prominent changes that were to be seen because of the boost were in Bitcoin and Ethereum.

From the day when Coinbase revealed its public listing, Bitcoin continued to gain further value and went to the record high as US$ 54,800 plus. It only required 150 plus and less than 200 dollars to go above the value of US$ 65,000.

But the landmark achievement could not take place as the consequences which favored the crypto industry, turned against the industry on 17th April, 2021. Resultantly, the leading coin, which was also leading in the value surge, felt the worse consequences of the crypto market flip. At least 15% value was gone instantly from Bitcoin i.e. going down from US$ 64,870 to US$ 57,000. This was the second-worst dip faced by Bitcoin while the first one was in February, which is still the worst until the present day.

Thereafter Bitcoin has been trying to regain its momentum back and is recovering from the shock. The present rate of Bitcoin according to CoinDesk is US$ 57,100 +. Although Bitcoin has, recovered majority of loss quickly still is lagging behind US$ 2,000. This is so because when the crypto market tumble occurred, Bitcoin was traded for US$ 59,000.

Meanwhile the second highest valued digital asset, Ethereum, too was subjected to the tumble. Resultantly, the value of Ethereum was brought down at US$ 2,061, which was otherwise US$ 2,394 prior to the volatility-taking place on 18 April. However, in terms of making the loss good, Ethereum has left behind Bitcoin as well. So far from 17 April 2021 to date, Ethereum has not only made the loss good but in fact, its recovery process is aggressive. As of today, Ethereum’s latest value as per CoinDesk is US$ 2,254.61. The data of CoinDesk also predicts a 5.12% increase in the value of Ethereum taking place before the end of the present day.

However, even with the occurrence of slid, many whales decided to move their Bitcoin funds which remained dormant for a considerably long time. In one movement, a while moved more than 150 Bitcoins worth roughly US$ 8.5 Million. However, that was not all that shook the crypto community on Sunday, 18th April 2021. The industry saw a massive movement of Bitcoins worth US$ 4 Billion approximately in one single day.

Most of the funds were landed in three crypto wallets that were created at Binance.

Meanwhile, in South Africa, it was reported that the country has become the second country-housing majority of crypto traders. It was reported that almost 15% of South African have poured their investments into Bitcoin. In addition, the female crypto trader population in South Africa is found to be number one in the world with an average exceeding 35%.

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