09 Jan 2019 Jane Whitmoore
Crypto Market Shows Signs of Revival, How Long Will it Take?
The last 24 hours have been fruitful for the cryptocurrency world, with the top cryptocurrencies marking gains from two to eight percent. The crypto market had a vital recovery, after Bitcoin jumped to over $4,000, pushing other cryptocurrencies upwards.
The most significant player on the market based on market capitalization, Bitcoin is up one percent in the past 24 hours, with high of $4,109 and a low of $4,025. Bitcoin managed to escape the sub-$4,000 situations, shaking hands at $4,025 and forming support zones at around $4,050. Trading volumes, however, are slightly down since the beginning of the week, indicating the upwards rally may come to a halt, or at least slow its pace.
The second largest cryptocurrency based on market capitalization, Ethereum, also marked a 2,5-percent gain, amid lowering trading volumes. The crowdfunding hegemon quickly managed to compensate for the monthly downwards movement, but if we look at the weekly data, Ethereum is losing its ground, also indicated by lower trading volumes. Ethereum, however, managed to stay afloat even when a hard-fork is soon to happen. The Constantinople upgrade, unlike the Bitcoin Cash hard fork, has been openly and transparently announced, making it easier for users to understand and keep them from backing their investments into cold wallets.
Number three in the cryptocurrency world, Ripple, managed to gain 2,66-percent and increased its trading volume, indicating once again that Ripple may be used as a haven for storing digital assets value in case of a market slump. On a weekly basis, Ripple has regained some of its losses over the past couple of days, trading at $0,3724 as of press time. The token quickly recovered almost 10% on January 7th, and until now the movement has been all upwards. Trading volumes also show stability, even with slight dips over the past week.
TRON has been one of the biggest gainers from the top-10 list, with over 8-percent gain over the past 24 hours. The token made a massive leap in its price – from $0,19 on January 2nd to $0.2803 as of press time. Trading volumes also mark a peak as the cryptocurrency is gaining momentum after the BitTorrent acquisition. The leap in TRON’s price is also a result of the EtherGo social monitoring tool moved to TRON’s protocol.
Overall, the cryptocurrency market is showing signs of revitalization, but indications of lowered trading volumes would most probably cause the upward movement to grind to a stop.Ethereum TRON Cryptocurrency Ripple Bitcoin price Ethereum Price TRON Price Ripple Price