Bitcoin falls yet again!
January 2, 2019 6:32 am,
Most of the top 20 cryptocurrencies are seeing discreet losses while few report discreet gains. Bitcoin’s BTC, price has lost value and has fallen below $3900 again.
When BTC price is as high as it is, a single percentage point is worth more than $30, so even a shift of 2% is notable. BTC was trading under $3600. Earlier this week, it was thought that the godfather cryptocurrency might make it back over the $4000 line, but things broke the opposite direction. This month it decline by 5% which was supposed to see Bakkt, the cryptocurrency starup launched by International Exchange, list the 1st physically settled BTC futures. Instead Bakkt delayed their launch until a yet to be defined date in 2019 while also announcing a $182 million funding round.
The already struggling market pulled out more than $15 billion from its total valuation in the last 48 hours. Last Christmas, as BTC was trading above $14,000 and the market was booming with demand from all over the world, a similar bear was triggered during the trading session on this day, the market shed around $26 billion.
The Bitcoin price dipped below the $3800 mark after promising a price surge to $4300 and the BCH price suffered a large decline from $230 to $170 within a one week span, losing 26 percent of its value against the USD.
Ethereum, TRON, IOTA Headline Market in December
Despite beginning the month on a downward slope, both ETH and TRON posted a strong mid-month recoveries, breaking even during the third week of December and then surging considerably from there-even as BTC and other top coins slunk back into the red.
ETH is positioned to end the month at $136, up more than 20 percent from its previous month level. Long the second largest cryptocurrency by market cap, ETH has languished below XRP for some time now. ETH strong corrective rally likely occurred due to a short squeeze on crypto margin trading platforms, indicating that the asset was oversold. The TRON price climbed even further rising to $0.0193 a full 33 percent to solidify its position as the 10th largest cryptocurrency. IOTA ranked 12th, is making a strong case to rejoin the markets upper echelon as well, having risen 25% over the past 30 days.
Second ranked Ripple, performed slightly better with a 3.3% pullback. BCH experienced a 9.45% decline and 5th ranked EOS dropped by a full 12.21% that appeared benign relative to stellar price’s 30.26 percent implosion.
Ripple’s price has lost about a nickel. Confidence in the bank-friendly blockchain platform remains high across the board, with Ripple CEO making statements the Ripple is overwhelmingly a decentralized platform. Ripple enjoys a strong community and as time goes on its price has divorced from its BTC peg, with more markets adding it as a base pair and trading it against the fiat currencies. declines could result in more price stability for Ripple.
Other cryptocurrencies followed the same suit. XRP, world’s second largest cryptocurrency, fell by 15 percent after the massive 43.2% spike in the past 7 days, and is at $0.38. The cryptocurrency was trading for $0.45 with a total market cap of $17.36 billion. The cryptocurrency’s $1.4 billion market cap was majorly split within Upbit and Bitbank, the former controlling $216.114 million worth of XRP transactions while the latter had a hold on $210.638 million worth of transactions.