This is How the Top five Cryptocurrencies Responded to the New Year
Today marks the beginning of another year for cryptocurrencies. After recording a poor run in 2018, investors are expecting that something different may happen to the market to lift the cryptocurrency market back to its feet.
Bitcoin ended the year with $3722 price and a market cap of $60.1 billion according to coinmarketcap. Its performance in 2019 is nothing different from how it was faring last year though it has risen by few dollars to trade at $3820 with a market cap of $65 billion as at the time this article was being written.
XRP failed woefully in 2018 considering its performance at the beginning of the year. After the XRP recorded an all-time high of $3.6 in January, it fell drastically to finish the year below $4. The response of this digital asset to the New Year is average, as it currently lies in $0.360 as at today. Its market cap moved a little here and there in the New Year before presently settling in $14 billion. Even though its price fell drastically in the previous year, it managed to take over the 2nd position of coins with the largest market cap.
Ethereum started the year with $135. The digital asset was trading at $1389 on January last year, but just like the other digital assets, it fell to as low as below $100. Currently, Ethereum has risen a bit above its lowest point of the year. Ethereum started the year with $14 billion market cap.
Bitcoin Cash received the new year on a good note. Bitcoin Cash recorded a 1.82 percent rise within the last 24 hours to trade at $162 in the New Year. Despite the asset falling deep from its $4000 all-time high in December 2017, it has shown a sign of climbing up the price curve, having started the year with $2 billion market capitalization.
EOS started the year with being 5th position on the coinmarketcap coin rankings. It welcomed the New Year with a price of $2.5 and a market capitalization of $2 billion.
This year has been tipped as a year that can see Bitcoin and the other digital assets making a comeback. It has been predicted that the adoption rate of the digital assets will increase coupled with other favorable factors that can make Bitcoin record a new all-time high.
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