Markets Update: BCH and BTC Consolidate, ETH Regains Second Position

Markets Update: BCH and BTC Consolidate, ETH Regains Second Position

XRP/USDT – Poloniex – 1D

BCH Markets Cool After Final 2018 on Record Volume

XRP/BTC – Bitfinex – 1D
When measuring against BTC, BCH price action has approximately followed the identical trajectory, starting the new year with consolidation after a retracement from the neighborhood top of 0.05 BTC posted during late December. BCH is now trading for 0.0417 BTC. BCH and BTC markets also have started the year with consolidation, with BCH bouncing between $150 and $175 and BTC trading in just a $3,500 to $4,000 scope on Bitstamp, and $3,700 to $4,300 on Bitfinex. In other market news, a bullish start to this year has observed ETH recover its place as the 2nd largest cryptocurrency by market cap.

BTC Consolidates Near $4,000

When measuring against BTC, XRP is testing service around 0.0001 BTC for the third time since September later creating a multi-month ascending wedge formation. Ripple is currently the third-largest cryptocurrency marketplace having a capitalization of $14.79 billion and a marketplace dominance of almost 11.3%. ETH has rallied always since the middle of December when measuring against both USD and BTC, with gained almost 90% over the buck and 55% over BTC in only 3 weeks. After trading for only $83 and 0.026 BTC on Dec. 15, ETH is now testing service at approximately $160 and 0.04 BTC.

ETH Produces Bullish Start to 2019

BTC currently has a market increase of 51 percent, down from 55% due to mid-December, coinciding with a rise in the combined capitalization of the rest of the markets from $45 billion on Dec. 16 to $64.2 billion now. How can you expect the markets to perform throughout 2019? Share your thoughts in the comments section below! Read: Report: 70 to 80 Percent of Southern Korean Miners Close Down in 2018
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Markets and Costs

The bullish momentum has also seen ETH recover the distinction of being the most significant altcoin by market capitalization, after seven months where XRP held second place. ETH currently boasts a market cap of $15.93 billion and a dominance of 12%. Bitcoin money is the fourth largest cryptocurrency by capitalization having a market cap of about $ 2.86 billion, equating to a market dominance of almost 2.2%.
BCH/USD – Kraken – 1D
After making the most powerful week of trading action on record 2 weeks before, the BCH/USD markets have retraced from the neighborhood high of approximately $220 and consolidated within a range between roughly $150 and $175. As of the writing, BCH is currently trading for about $158. When considering the daily graphs, BTC has started the new year with tight consolidation at the upper $3,000 range, after a 30 percent rally throughout the second half of December 2018. As of the writing, BTC is investing for about $ 3,800 on Bitstamp and $3,942 on Bitfinex, after launching local service around $200 reduced toward the end of 2018.

Released at Fri, 04 Jan 2019 14:30:54 +0000 Pictures courtesy of Shutterstock, Tradingview After a week of bullish momentum leading up to Christmas, XRP/USD has traded within a price range between approximately $0.33 and $0.37, with present costs consolidating at the service zone of XRP’s former all-time high posted throughout May 2018.