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Bitcoinjumped 24% last week to close at $28,000. Ethereum added 16.2% to $1800. Otherleading altcoins in the top 10 gained between 6.6% (Polkadot) and 19.3% (BNB).

The total capitalisationof the crypto market, according to CoinMarketCap, rose 14% over the week to$1.17 trillion.

Last weekproved to be the best week for bitcoin in the last five years, since February2018. BTC rose sharply along with gold as market participants began to see itas a safe haven for capital amid problems with banks.

At the sametime, bitcoin's positive traction has been boosted by technical factors. Havingfound itself in the $25,000+ territory, the first cryptocurrency appears to befacing an impressive short squeeze.

As is oftenthe case with cryptocurrencies, they only become attractive to speculatorsafter strong moves. The recent momentum still has some upside potential.

The 30,000area was a significant support for a year and a half until the middle of lastyear and now has a high chance of acting as resistance. As we approach the30,000 level, we should be prepared for the bulls to start taking massiveprofits, much as we have seen since the second half of February.

Ryan Selkis,CEO of analyst firm Messari, has predicted that the first cryptocurrency willhit $100,000 within 12 months. He sees bitcoin as a safe investment amidproblems in the US economy.

Moody'sbelieves that the recent decoupling of USD Coin (USDC) from the US dollar couldhinder the development of stablecoin and lead to tighter regulation.

Cryptocurrencyexchange Coinbase is exploring the possibility of creating a new tradingplatform outside of US jurisdiction, Bloomberg reports.

Launching anoffshore exchange would allow Coinbase to insulate itself from hostile USregulation and offer international customers new products that are not approvedin its home market.

Ethereumco-founder Vitalik Buterin has called for self-storage of digital assets. Hesaid that he personally and the Ethereum Foundation use the MultiSig wallet tostore most of their funds.

This article was written by FxPros Senior Market Analyst AlexKuptsikevich.

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Bitcoin in all its glory. Where's the stop? - ForexLive