Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading

The main cryptocurrency markets have seen a sluggish begin to the yr, with the highest three markets by capitalization shedding between 10% and 37% since early January’s native highs. January has also seen volatility in market cap rankings, with XRP and ETH competing for the second largest crypto asset capitalization, and EOS, USDT, and BCH competing for a place throughout the high 5.

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BCH Maintains Triple Figures Throughout January

After ending 2018 with a roughly 200% bounce from the all-time lows on the $75 space, BCH/USD has produced a sluggish begin to 2019, slipping 36% from the Jan. Three native month-to-month excessive of $175 to presently commerce for about $110. When measured from the native high of $240 posted on Dec. 21, BCH has misplaced practically 54 % over the course of six weeks.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
BCH/USD – BItstamp – 4HR

On Jan. 28, the markets noticed vital promoting strain that drove BCH down 15 % in simply 12 hours to check help at $100. Since then, BCH has made slight features amid consolidation, however seems poised for a retest of all-time lows ought to the present help space fail to carry.

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When measured towards BTC, BCH has also shed most of the features it garnered throughout the late December bounce, with the present worth of 0.032 BTC comprising a 43% drop from the Dec. 21 native excessive of 0.057 BTC, and a loss of 27% from January’s excessive of 0.044 BTC, with BCH presently buying and selling for 0.032 BTC.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
BCH/BTC – BItstamp – 4HR

Despite the bearish worth motion, this previous week’s promoting strain noticed BCH/BTC retest the higher aspect of the descending trendline that seems to have guided worth motion over the course of the previous six weeks. However, ought to the present help space fail to carry, it’s probably that BCH will retest the all-time low space of 0.025 BTC.

Bitcoin money is presently the sixth largest cryptocurrency with a market capitalization of $1.96 billion. BCH market dominance has slipped by practically half a % for the reason that begin of the month, dropping from 2.20% to almost 1.73%.

BTC Experiences Low Volatility During January

BTC/USD has traded inside a good vary throughout 2019 to this point. BTC started January buying and selling for $3,700, earlier than posting a month-to-month excessive of $4,100 on Jan. 8.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
BTC/USD – BItstamp – 4HR

Since then, BTC steadily bled all the way down to yesterday’s native low of $3,325, a 19% drop in three weeks. BTC presently has a market capitalization of practically $60.6 billion, and a dominance of 53.42%, up 1.5% for the reason that begin of the yr.

XRP Ranks Second by Market Cap for Most of January

Opening January buying and selling for practically $0.35, XRP/USD spent the primary 10 days of 2019 oscillating inside an roughly 10% vary, earlier than posting a month-to-month excessive of over $0.38 on Jan. 10. Since then, ripple has fallen by roughly 25%, with costs presently testing help at December’s lows of roughly $0.28.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
XRP/USD – Kraken – 4HR

Despite also producing a bearish begin to 2019, the XRP/BTC charts present bullish worth motion, with XRP presently testing the help on the long-term key worth space of 0.000084 BTC. However, XRP has fallen by practically 12% since opening the yr buying and selling for 0.000095 BTC.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
XRP/BTC – Binance – 1D

After beginning the yr because the second-ranked crypto asset by market cap with a dominance of roughly 11.50%, ripple slipped to 3rd on Jan. Three and Jan. 11. XRP has since regained its rank because the second largest crypto asset by capitalization, with XRP presently posting a market cap of $12.01 billion and a dominance of 10.57%.

ETH Posts Volatile Start to 2019

ETH/USD traded inside a variety throughout January, opening the yr at roughly $135 earlier than gaining over 25% in roughly one week. After posting a month-to-month excessive of roughly $170 on Jan. 6, ETH has since misplaced greater than 37% towards the greenback, with present costs testing help simply below $110.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
ETH/USD – Poloniex (Calculated by Tradingview) – 4HR

ETH/BTC began the yr buying and selling for roughly 0.035 BTC, earlier than rallying over 17% in per week to post a three-monthly excessive of roughly 0.041 BTC on Jan. 6. Since then, ETH has fallen 26% when measuring towards bitcoin core to presently commerce for practically 0.031 BTC.

Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading
ETH/BTC – Poloniex – 4HR

ETH is presently the third-largest cryptocurrency by market cap, with a capitalization of $11.08 billion. ETH dominance has fallen from 11.05% at the beginning of January to 9.78% as of this writing.

What do you suppose the general development for 2019 can be? Bullish? Bearish? Sideways? Share your prediction within the comments part below!

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