| After a few weeks packed with news, as well as the sharp increase in Bitcoin's price, this week was relatively quiet as the BTC rally appeared to calm down a bit. As usual, Bitcoin's price has a strong impact on the market of the Alternative coins, which have also marked gains against the US dollar as the volume increased so notably that people started talking about the end of the crypto winter. The one question that lingers in the background is where do we go from here and whether the rally will continue to shape Bitcoin's parabolic graph or weather this is just a bullish trap. At this stage, it remains difficult to outline what the future holds. What can be said, however, is that the market wasn't moved by the sell-offs of the past week and despite the rapid decline, Bitcoin's price managed to hold and returned to the levels of around $8,000. As it's well-known, Bitcoin's pattern of behavior is also dragging the altcoins that are recovering after a tough period. Their declines appear halted for the time being and the price of most altcoins has also increased. Moreover, we saw new all-time highs (ATH) being established against the dollar in certain cases: A good example of this will be Binance Coin (BNB), which continues to surge, crosses the $30 threshold. The IEO phenomenon persists. Despite all of the assumptions that the hype around IEOs will fade and despite the warning which came from SEC executives, it seems that the hype continues. Furthermore, after Binance recovered from the $40 million Bitcoin hack, the price of some tokens issued on the exchange continues to rise significantly. FET and CELR increased by more than 20 percent while Matic saw a spike of 110 percent. If this trend continues, it's expected to see more investors joining in. It's also possible that some of the investors will realize their success and spread the risk between different altcoins. Thus, this could pour more fuel and potentially trigger yet another official Altcoin season. | 
BTC: $7920
ETH: $253
XRP: $0.39.6
Crypto Weekly Market Update: Binance IEOs Surge As BNB Reaches $30