Crypto Markets See Mild Downturn, Bitcoin Holds Near $3,800

Published at: Jan. 4, 2019

Friday, Jan. 4 — after crypto markets tipped back into red yesterday, most cryptocurrencies are today seeing some further corrections. All of the top twenty coins by market cap are seeing tempered losses on the day, as data from CoinMarketCap shows.

Top cryptocurrency Bitcoin (BTC), a day after the tenth anniversary of its genesis block, is down over 2 percent over the 24 hours to press time, and is currently trading around $3,798. The coin has failed to break back above the $4,000 price point, despite several bursts of growth over the course of the past week — and has largely traded range bound between $3,800 - $3,900.

Bitcoin is up about 3.5 percent on the week. One month ago, Bitcoin was trading around $4,000, and is down around 5.4 percent to press time.

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Ethereum (ETH) — which this week reclaimed its former ranking as largest altcoin by market cap — is seeing almost no change on the day to press time, trading at about $150. With a market cap of $15.6 billion, the asset is continuing to inch further ahead of second-largest altcoin by market cap Ripple (XRP), which has a market cap of $14.5 billion to press time, according to CoinMarketCap data.

Positive news has been forthcoming for the asset, with Estonian digital trading platform DX Exchange set to offer fully EU-regulated, tokenized stocks on the Ethereum blockchain next week, using Nasdaq’s Financial Information exchange (FIX) protocol to deliver the product.

Ethereum is a bullish 28 percent in the green on its weekly chart — and has seen an impressive 34 percent in growth on the month.

Ethereum 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Ripple (XRP)’s losses have been slightly stronger, with the asset down just over 3 percent at around $0.35 to press time — bringing it close to full circle on its weekly and monthly charts.

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

Among the remaining top twenty coins on CoinMarketCap, all are in the red, with losses capped below 5 percent.

Losses among the top twenty coins range from Binance Coin’s (BNB) negligible 0.56 percent losses, to a higher 24-hour loss of 4 percent for EOS (EOS).

Recently forked Bitcoin SV (BSV), IOTA (MIOTA) and Bitcoin Cash (BCH) are all also seeing heavier losses close to 4 percent.

Ethereum Classic (ETC) and NEM (XEM) have meanwhile both seen 24-hour losses of about 2.7 percent.

Total market capitalization of all cryptocurrencies is at around $128.8 billion as of press time — up from $122.4 billion at the start of the 7-day chart Dec. 28.

7-day chart of total market capitalization of all cryptocurrencies. Source: CoinMarketCap

As reported yesterday, the over-the-counter (OTC) trading desk at cryptocurrency finance firm Circle reported a notional volume of $24 billion for 2018 — giving insight into the state of the liquidity of a sector of the crypto trading space largely used by institutional, rather than retail, investors.

In crypto regulatory news, the government of Ireland yesterday approved a bill that would give effect to the European Union Fifth Anti-Money Laundering Directive, which will impact cryptocurrency users.

Tags
Bitcoin Price
Markets
Ethereum
Altcoin
Cryptocurrencies
Bitcoin Cash
Ripple
Monero
Eos
Zcash
Litecoin
Ethereum Classic
Tron
Bitcoin Sv
Related Posts
Crypto Markets Attempt to Stem Recent Losses, Some Top Alts See Solid Green
Friday, Jan. 11 — after a major price rout yesterday, many cryptocurrencies are today clawing back lost ground, with most of the major coins tipping back into the green, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has stabilized around $3,700 to press time, seeing a slight 1 percent recovery over the past 24 hours. Yesterday, Jan. 10, Bitcoin fell sharply in value from ~$4,000 to ~$3,650 — an over 8 percent intraday loss. Having reclaimed the $4,000 mark Jan. 6 — which it comfortably held for several days — the fresh downturn has brought Bitcoin …
Markets / Jan. 11, 2019
On Bitcoin’s 10th Birthday, Crypto Markets See Corrections Across the Board
Thursday, Jan. 3 — after some positive inklings of growth earlier this week, crypto markets have today dipped back into the red, with most of the top twenty cryptocurrencies by market cap seeing losses capped below 6 percent, as data from CoinMarketCap shows. TRON (TRX) is one of the only outliers among the top coins and the strongest top twenty performer on the day, up just 1 percent. The market is evidently responding positively to news that stalwart peer-to-peer torrent client BitTorrent has launched a TRON-based native token for its users — the company’s first major move to tokenize its …
Bitcoin / Jan. 3, 2019
Bitcoin Holds Above $4,000 Amid Checkered Market Outlook
Wednesday, Jan. 9 — crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Bitcoin (BTC) is holding justabove the $4,000 mark, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has been jaggedly trading sideways over the past three days, and is currently down a mild 1.4 percent on the day, trading at $4,048. Having broken the $4,000 resistance on Jan. 6, Bitcoin spiked to around $4,100, subsequently continuing to fluctuate range bound between $4,000 and $4,100. As compared with its lower price …
Bitcoin / Jan. 9, 2019
Bitcoin Back Over $4K as Crypto Markets See Fifth Day of Green
Thursday, Dec. 20 — crypto markets are seeing their fifth day of green, with virtually all of the top 20 cryptocurrencies showing a strong burst of growth, as data from Coin360 shows. Market visualization by Coin360 In terms of 24-hour growth, fourth-largest cryptocurrency Bitcoin Cash (BCH) has soared ahead of other assets, seeing an astonishing 36 percent spike to hit $165 as of press time. Today marks the coin’s third day of double-digit growth, and fifth day in the green. With 7-day growth over 80 percent, the coin still remains close to 50 percent down on its monthly chart. Bitcoin …
Bitcoin / Dec. 20, 2018
Crypto Assets See Losses Across the Board as BTC Falls Below $4,000
Monday, Dec. 3 — Crypto markets have today again taken a major downturn, with all of the major coins by market cap seeing significant losses of within a 4 and 10 percent range, as data from Coin360 shows. Market visualization by Coin360 Bitcoin (BTC) has dropped below the $4,000 price point, down about 7 percent on the day to trade at $3,868 at press time. Despite rebounding to as high as $4,400 Nov. 29, the top coin has today seen a drop from a 24-hour high of around $4,135 to as low as $3,846 in recent hours. Having lost its …
Bitcoin Price / Dec. 3, 2018