After a long time, most major cryptocurrencies are likely to be in the positive on a weekly basis. This shows that the buying has been broad-based, which is a positive sign. With the sentiment gradually turning around, can the top performers of the past seven days build upon their gains?
1. Bitcoin SV (BSV)
Price — $162.41 USD, Market Cap — $2,934,423,516 USD
Bitcoin SV (BSV) surged about 43% in the past seven days to claim the top spot. The altcoin has been the best performer among major cryptocurrencies for the second consecutive week.
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It is speculated that Craig Wright, who claims to be Satoshi Nakamoto, submitted more documents to the court in an ongoing legal battle with the estate of former business partner Dave Kleiman, which might have details of a trust that holds his Bitcoins. Some analysts believe that this news was one of the reasons for the sharp rally in Bitcoin SV. Can the altcoin rally further or is it time to book profits?
2. Dash (DASH)
Price — $65.03 USD, Market Cap — $602,545,090 USD
Dash (DASH) has found a place among the top crypto performers after a long gap. The altcoin surged about 29% in the past seven days. The recovery in price started on the news that Burger King Venezuela would start accepting cryptocurrency payments.
Initially, only one store will accept cryptocurrencies but later, 40 other locations would join by the end of this year. Does the cryptocurrency show signs of having bottomed out?
3. Chainlink (LINK)
Price — $2.17 USD, Market Cap — $760,855,328 USD
Chainlink (LINK) was the third-best performer of the past seven days with a rally of over 24%. Does the current rise indicate a change in trend? Can LINK build on its strength over the next few weeks?
4. Bitcoin Cash (BCH)
Price — $264.70 USD, Market Cap — $4,822,878,775 USD
Bitcoin Cash (BCH) also benefited from the news surrounding Craig Wright. The altcoin rallied about 18% in the past seven days. This is the third consecutive week that Bitcoin Cash has been among the top performers. After the recent rally, is it time for a reversal or can the up move extend further?
5. Litecoin (LTC)
Price — $49.86 USD, Market Cap — $3,183,766,059 USD
Litecoin (LTC) rounded up the list of the top five performers of the past seven days with a rally of about 18%. Litecoin’s mining difficulty, which had dropped sharply in the second half of 2019, has begun rising again. This could spark a bull run in the altcoin, according to a few analysts.
In other news, cryptocurrency lending company BlockFi has added support for Litecoin, which is positive. While the fundamentals point to an up move, do the technicals also support a rally?
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TOP 5 Performers Last Week was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.