The Crypto Verse had been able to climb up the greener side of the peak during the middle of December 2018 but it failed to grasp the forever-challenging slopes of it, marking its low performance at the end of December. The downtrend continues at the beginning of 2019 as well. The major coins are still struggling to get their hands into successful trading, followed by the minor ones. Digital currencies like Tether which was doing considerably well during the previous year now gasps with all red. We are still not sure where the future of the cryptocurrencies lies as of now.
Though Bitcoin is still ranked at first, it had been subjected to questions as to how long it would keep trending at that position, which is, of course, comes as an alarming note for the leading coin. Also, the beginning of the year marked the development of some of the popular exchanges such as Ethereum which had got back its rightful second position in the CoinMarketCap. Even though XRP had bounced back to its third position, it had not much dropped in terms of its performance. There has been intense competition for the second position to which Ethereum seems to be the ultimate winner with 14.35% profit in terms of the weekly performance, while XRP records its performance in red at the rate of 5.62%.
Ethereum (ETH) Chart:
XRP (Ripple) Chart:
On the other hand, TRON continues to maintain the same level of performance steadily, unwavered by the downtrend of the crypto verse. It brilliantly trades all in green with 7.75% on a weekly basis and 2.04% for the last 24 hours. TRON is a highly recommended digital currency for the time being which can be opted to be invested for.
The hard forks of Bitcoin such as Litecoin (LTC) and Bitcoin Cash unveil a variety of performance. Litecoin has not been much affected by the struggling phase of Bitcoin (BTC) while Bitcoin Cash (BCH) seems to have been damaged severely. BCH has been on the highlights more than Litecoin for the whole of 2018, but now it seems to be the golden time for the silvery Litecoin to show its potential. Bitcoin SV also trades in red. Sadly enough, the crypto experts anticipate a break down for Bitcoin SV soon.
Bitcoin Cash (BCH) is trading at $2,798,802,178, priced at $159.48 and a circulating supply of 17,549,375.
Litecoin (LTC), ranked 7th, is trading at $1,989,303,464, priced at $33,22 and a circulating supply of 59,881,303.
The bear market in the year 2018 refused to spare any of the cryptocurrencies, its favourite food being Bitcoin. It has been estimated that about 1,000 altcoins vanished last year due to reasons like hacking and spamming. Bitcoin had been reportedly in danger more than 90 times throughout the year, it still survives and struggles to regain back its glory.
Bitcoin had been dwindling in between $3,912.91 and $3,598.99 since December 26th. An expected breakout of this range would result in one more attempt to break out of $4,255. On being successful, it would be able to complete an inverse head and shoulders pattern which has a pattern target of $5,500. Currently it trades at $67,528,222,519, priced at $3,866.68 and a circulating supply of 17,464,137.
The year 2019 is expected to be a year full of twists in the performances of the altcoins, some being affected by the performance of Bitcoin and some trading independently.