During this week’s trading, the most famous and largest digital currencies in terms of market capitalization succeeded in recording noticeable rises, on top of them the price of Bitcoin, coinciding with the increasing demand for digital currencies as a successful and better investment during the current time with the continuing outbreak of the Corona virus, and the weakness of major currencies such as the EUR, Here is a look at the performance of digital currencies at the end of this week:
At the end of this week, the price of Bitcoin rose to the highest levels of $ 37,000, after it had fallen below the level of $ 30,000 at the beginning of the week, and during today’s trading, bitcoin prices rose by nearly 16% and recorded about $ 37,199.56, supported by the president of Tesla who put the word Bitcoin In his biographical file on Twitter, what strengthened the rise of Bitcoin during transactions, and the market value of it became about $ 692,423,333,001.
It should be noted that an analyst at Goldman Sachs Bank predicted this week that the recent decline in Bitcoin is nothing but preparation for a strong rally towards levels of $ 50,000. Bitcoin is expected to reach these levels by March of this year.
Ethereum ranks second in terms of the most popular digital currencies in terms of market value, and during trading today, Friday, it rose by 3.89% to reach the price of Ethereum to $ 1400.71, and thus the market value of the Ethereum digital currency rose to 160,313,748,116 dollars, to come directly after Bitcoin, benefiting from Signing a new partnership with reddit, one of the largest websites in the world.
Tether was the lowest rise in the digital currency this week, as it rose by 0.15% during Friday’s trading to reach the levels of $ 1.0, while its market value reached about $ 25,407,160,906, thus settling in the third place among the most popular digital currencies by market value.
It is ranked fifth in terms of market capitalization, but achieved strong profits this week. The price of Ripple reached levels of $ 0.29 after this recent rise during Friday’s trading by 9.81%, bringing its market value to $ 13,029,463,733.
Bitcoin Cash also rose and recorded a remarkable rise among digital currencies, as Bitcoin Cash recorded a rise of about 8.13% during Friday’s trading, and the price of Bitcoin Cash until Friday reached $ 425.49 and its market value rose to $ 7,931,219,378.