This week, Bitcoin’s price surged above $ 50,000 on a few occasions, while Altcoins posted double-digit gains all along.

Let’s start with BTC. The primary cryptocurrency is up about 7% in the past seven days and is currently above the coveted $ 50,000 mark. It took a few tries to get there, however, and we need to close today’s candle above it to further confirm the bullish continuation.

Bitcoin tried to test $ 50,000 around last weekend but failed and began to decline from then on. On Wednesday, September 1, it even fell below $ 47,000. Since then, however, the cryptocurrency has done tremendously well and it shows – we’re over $ 50,000 again!

And while BTC’s profits may seem impressive, it’s the altcoins that stole the show. Solana is up another 84%, topping the $ 140 mark. Polkadot’s DOT is up 34.6% and is above $ 30.

Of the top 5, Ethereum is up an astonishing 27% and is testing the all-important $ 4,000 level at the time of this writing. Cardano is also doing very well, breaking above $ 3 for the first time when smart contracts go live on its Alonzo test network.

All in all, it’s been a great week for everyone in the industry based on soaring ratings alone. We even saw an apparent clone of Dogecoin called Dogecoin 2.0 receive a request to stop using that name, sent by the Dogecoin Foundation itself. Even so, the cryptocurrency has risen by more than 500% since then. As we know, anything can happen in the wild crypto market.

However, it is interesting to see if the positive trajectory can remain intact. To do that, Bitcoin needs to build solid support at $ 50,000 before moving any further. One thing is certain, however: an exciting week is ahead!

Market data

Market Cap: $ 2373 billion | 24H Vol: 169B | BTC dominance: 40.4%

Bitcoin: $ 50,585 (+ 7%) | ETH: $ 3,967 (+ 27%) | XRP: $ 1.30 (+ 18.9%)

This week’s crypto headlines that you can’t miss

The SEC filed charges against BitConnect, its founder and top US promoter. The United States Securities and Exchange Commission (SEC) has filed charges against one of the most controversial cryptocurrency projects – BitConnect. The regulator claims it stole more than $ 2 billion from retail investors through an unregistered offering of digital assets.

MetaMask celebrates 10 million monthly active users: 1800% annual growth. MetaMask – the most popular Web 3.0 wallet, will have a party in the Decentraland Metavers and celebrate a massive milestone with the acquisition of over 10 million users.

Twitter reportedly wants to take over the Bitcoin Lightning Network for the tip service. The social media mogul Twitter reportedly wants to take over Bitcoin’s Lightning Network for its tip service. This is evident from code that is built into a beta version that could be implemented shortly as a payment option alongside the others currently available.

Ahead of Bitcoin Law: El Salvador votes for a $ 150 million BTC trust. The El Salvador government voted to promote a $ 150 million bitcoin trust. The idea behind the move is to convert BTC to USD so that the local population can offset their exposure to the cryptocurrency.

Ripple Strikes Back: Trying to Uncover SEC employees’ XRP holdings. Ripple defends itself against the US Securities and Exchange Commission. The company filed a motion to disclose whether or not SEC employees were holding XRP.

Twice in 6 months: Cream Finance used for 25 million US dollars in ETH and AMP. The popular decentralized landing protocol CREAM Finance was used for the second time within six months. $ 25 million was stolen from the platform in the form of various cryptocurrencies.

Diagrams

This week we have a chart analysis of Ethereum, Ripple, Cardano, Polkadot and Solana – click here for full price analysis.

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