Crypto Market Update | 23 November 2020

What a week in crypto




Edward Ludbrook
Founder and CEO


23 November, 2020 | 1 MIN

Sometimes, weeks can go by in the crypto world without as much as a ripple. 
 
This week wasn't one of them.
 
Today, in my first ever report, I'll be taking a look back at the last couple of weeks in crypto. And let me just start by saying, "I told you so."
 
Since November 1st, the crypto market has broken that all-important US$14,000 level for Bitcoin. Bitcoin has truly boomed, peaking at $18,000. That's 28% up in just two weeks. And Bitcoin's not the only one feeling the heat. ETH is up 22%, and the total market capitalisation has jumped $100bn – or 25%. 
 
For Dacxi, the week's biggest story was Litecoin. As part of our Blue Chip Bundle, I was a little concerned that it was under-performing, and slipping down the rankings. Turns out I needn't have worried. This month, Litecoin's up a massive 50%, and has re-staked its claim as the world's 5th largest crypto. It just goes to show, Dacxi's pioneering portfolio approach to crypto really is the smartest investment strategy. 
 
So that was the week just past. As for the Future? Who knows. The way things are headed, the market is likely to challenge the all-time highs of US$20,000 on Bitcoin. My personal hot take is that we could also see some consolidation soon. No-one really knows for sure – and really, it shouldn't matter. As long as you stay laser-focused on buying for the long term, things are looking up.


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