Cryptocurrencies To Watch: Week of March 20

investopedia.com:

The cryptocurrency market experienced a sudden surge in value over the last week, after an extended rough period. The current turmoil in the bank sector appears to have given a boost to the crypto market, especially Bitcoin, as some investors opt for digital assets for diversification.

This week, we examine Bitcoin (BTC), Conflux (CFX), Mask Network (MASK), Fantom (FTM), and Neo (NEO). In selecting these assets, we have considered several factors, including positive technical developments, significant news events, and noticeable price changes.

Bitcoin (BTC) jumped in the latest week, increasing by about 25%.The cryptocurrency has finally broken through its recent resistance levels, meaning the price zone that the digital asset has had trouble breaking above in technical analysis.

The driver for this sudden rise might be turbulent global economic conditions. Historically, investors flocked to Bitcoin when there have been troubling events in traditional markets. The failure of several banks, inflation rates, and dollar-liquidity decisions by the U.S. Federal Reserve all may have contributed to Bitcoin’s price surge.

BTC is hovering at around $28,067 after trading around $22,450 last week (see chart below).

BTC price: TradingView

Conflux (CFX) was the biggest gainer this week, with the CFX token more than doubling in price and crossing the $1 billion market-capitalization figure.There are several possible factors feeding the price increase, with one being the project's integration with China’s version of Instagram, Xiaohongshu.The project also announced the launch of SIM cards using Conflux Network's blockchain support in collaboration with China Telecom.

Conflux is a blockchain network that offers fast transaction