Crypto Week Ahead: Bitcoin, Ethereum Expected To Continue Bull Run

Over the past seven days, Bitcoin (BTC) price achieved a high of $30,952.68.

Bitcoin and Ethereum are on a much-needed bull run.

Source : Thought Catalog/Unsplash

The much-awaited Ethereum Shanghai Upgrade took place last week, resulting in the Ethereum (ETH) price rally to above $2,000 for the first time since May 2022. While ETH managed to stay above the mark early Monday morning, Bitcoin (BTC) also remained stable around the $30,000 mark, showing a surge of nearly 120 percent this year. It appears that the two coins might be able to continue their bull run in the coming days as well, lending some much-needed impetus to the overall prices of other crypto coins. 

Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile in nature. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their own research before taking any call. 

Crypto Prices Over The Past Week

Last Monday (April 10), the overall crypto market cap stood at $1.18 trillion. Bitcoin (BTC) price stood at around $28,240, Ethereum (ETH) price stood at around $1,865. 

A week later, the overall market cap managed to climb to $1.27 trillion, as per CoinMarketCap data. BTC and ETH managed to climb above the $30,000 and $2,000 marks, respectively, lending a bullish streak for most crypto coins. 

DeFi's total volume stands at $4.05 billion, at 9.91 percent of the total market 24-hour volume. In case of stablecoins, the overall volume stands at $36.18 billion, at 88.54 percent of the total 24-hour market volume.

BTC dominance, at the time of writing, stood at 45.70 percent.

Over the past seven days, Bitcoin achieved a high of $30,952.68 (on April 14) and a low of $28,212.46 (April 10), showing signs of a sustained price rally. 

Ethereum, on the other hand, saw a high of $2,136.12 (April 17) and a low of $1,849.48 (April 10), showing signs of a streak as well. 

Crypto Events To Note

Unlike the Ethereum Shanghai Upgrade last week, there are no major crypto events scheduled for the coming week. 

However, as part of India’s G20 Presidency, Finance Minister Nirmala Sitharaman has been discussing crypto regulations with global leaders, including IMF Deputy Managing Director Gita Gopinath, on how to have a concerted effort on a global scale to set crypto regulation rules. India certainly has a chance to lead the push for digital-asset regulation among G20 nations. 

What Crypto Traders Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the weekend, Bitcoin reached its highest point since last June at $31,005. Despite being 56 percent lower than its all-time high, the cryptocurrency has surged by almost 120 percent since its lowest cycle earlier this year in January. Additionally, Ethereum also reached a new 11-month high of $2,141 following the successful Shanghai Upgrade. Overall, this week seems to be bullish at the moment, indicating a rise in investor confidence.”

WazirX Vice President Rajagopal Menon offered his take, “Besides predicting a steady run for Bitcoin, experts indicated bullish sentiments for dYdX tokens in the previous week. However, BTC might be headed for a price correction if earlier patterns were to be referred to. India has shed light on its intention to urgently regulate crypto as G20 president. FTX token’s price increase has consumers bullish about regaining lost funds.” 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.