Bitcoin price & Altcoin analytics

Since early last year, cryptoasset investors have been caught in prices declines, fake news, accounts of fraud etc. which have weeded out the weak speculators.  Eventually, this has created a community of investors that more likely believe in the nascent technology or doubt that another wave of speculators will push the markets back to or above their antecedently accomplished all-time-highs.

Even though last week began with the Bitcoin price consolidating, the utmost result was price action hitting a drastic week.

Thursday, January 10 morning (0:10 AM UTC) – Cryptoasset markets were showing assorted signs, with several of the top market cap cryptos facing balmy variations both green and red. Bitcoin (BTC), the flagship crypto, was holding slightly above the $4,000 level, according to data from Coin360. But surprisingly, all crypto prices have abruptly declined except Tether, USD Coin, TrueUSD, Gemini Dollar, Dai, Status, Aurora, ODEM, HyperCash and maximine.

Ethereum’s (ETH) price has increased from $83 to $150, which is around 80% against the USD over the past month, in a significant corrective recovery.

The bull market appears to have recovered and the charts are indicating a green straddle. The crypto market, which has been suffocating for a while, has finally registered a hasty soar in prices as 2018 comes to an end. On Thursday, December 21, several altcoins saw weighty price clusters, some almost registered double-digit surges.

The crypto market has been unfavourable for the majority of cryptos such as Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin. But good enough, Bitcoin (BTC) has managed to increase by around 20% from December 17 when it was trading at $3,181 to December 20, 2018 trading at 3,801, at press time. Moreover, the rally seems to last as the price went up to $4,091 in a couple of hours. The recent crypto rally led the market cap not to fall below the valuation level of $100 billion.

Over the last week, Bitcoin fell below the mark of $3,300. It even passed two support levels at $3,250 and $3,200, however, it found support above $3,120. Is it likely that Bitcoin will rebound in the short term?

As the crypto market recovered from the last drop, we found Tether (USDT) in fifth place by market cap,  just next to Stellar. The stablecoin, which in 2017 was not even in the top 20, turned out to be the most popular token, overtaking EOS and Bitcoin Cash.

The prolonged bear market has left traders with no hope at all. Now it is highly probable that the Bitcoin price will sink further and go down to $3,000 or even less. However, Bitcoin seems to resemble a lottery ticket and one never knows what it can bring.