Crypto Currency Market Moving On Cautious Note In New Year

The crypto currency market seems to be moving on a cautious note in the new year after surviving a downfall in 2018.

Bitcoin, which showed signs of a gradual recovery in the second half of December, and reached its highest value in 24 days ($4230) on Christmas eve, lost much of its gains towards the year-end.

However, in the first week of 2019, the price remains relatively stable, and in much better position than the 15-month low of $3,122 it hit on December 15.

In a four-day track beginning Tuesday, Bitcoin strengthened by more than 2 percent, and is slightly down in the last 24 hours.

Bitcoin was trading at $3746 on Coinbase at 9.50 am ET Friday.

It has been a happy new year for Ether, the second most popular cryptocurrency.

From $130 on the New Year eve, ETH climbed by 15 percent in the last four days.

After hitting last year’s lowest level of $82 on December 14, Ether’s recovery can be described as bullish. It strengthened by around 90 percent since then.

Continuing the pace of a stronger recovery rally, Ether price broke above the $150 resistance level on Friday, and reached its highest in 48 days – $154.

Similarly, from its 2018 lowest rate of $23 on December 14, Litecoin displayed considerable improvement in value in the days after. It showed a gradual progress in the first four days of January, and is trading at $31.14 on Coinbase at 9.50 am ET Friday.

Ripple, the third-top altcoin, had a slight growth in price in the beginning of 2019. XRP was at its best price so far in the year on Wednesday, $0.37, and is currently down, trading at $0.35.

Following a year that saw about 1,000 altcoins vanishing due to various reasons, crypto currency experts are not ready to forecast a bright future if not bleak for the top softcoins.

As of January 3, the global digital currency trade value remains $90 billion, down from November last year.

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