The new year has started positively for a lot of cryptocurrencies, including the top 10 coins, many of which have seen a noteworthy increase in price during the last several days. After an extremely bearish 2018, many in the crypto world have been looking forward to a bit of positive development, even going as far as to expect a full-scale bull run.
While this is definitely not what is happening right now, some of the highest-ranking coins have been expressing a subtle desire to grow once more.
Ethereum showing signs of growth
Ethereum (ETH) is one of the best examples of this, as the coin experienced a mild grow during the first week of 2019. Despite a few minor drops in the last eight days, ETH has mostly been growing. Its price climbed up by around $25 in the previous week, which some analysts took as proof that the coin is ready to grow once again.
As all other cryptocurrencies, Ethereum is also heavily influenced by Bitcoin, and BTC still dominates the market with more than a half of the crypto market’s total market cap. At the time of writing, the market, including Ethereum, is once again experiencing minor drops. However, since nothing critical has happened in the crypto world recently, this might just be the market’s natural attempt at finding stability.
However, things are about to get interesting for Ethereum, as the coin is scheduled to have as many as three hard forks in the next few days. The forks will come as a consequence of new updates, one of which is expected to bring new changes to the way ETH network operates, and tackle the blockchain’s scalability issues.
Considering the fact that the BCH November hard fork is still very fresh in investors’ memories, a lot of them are waiting to see what potential consequences might emerge from Ethereum forks. Furthermore, analysts have noted that a drop in price is not unusual after similar events, especially if new coins emerge from the split.
Whether or not these predictions will come true remains to be seen. Even so, many remain optimistic regarding the forks, stating that ETH network will likely emerge strengthened.
At the time of writing, the Ethereum price is at $150, after experiencing a 4.14% drop in the last 24 hours. However, as mentioned, this might be only the next one in a series of minor drops that arrive after a small price boosts that ETH has been experiencing in 2019. The coin is still the second largest one in terms of market cap, after taking over its position from XRP, which managed to hold on to it for over a month and a half.
Ethereum’s trading volume in the last 24 hours is still quite high, being at around $2.4 billion. In comparison, Bitcoin’s trading volume is at $4.94 billion.
It is still unclear where the coin will go from here, and how it is going to behave after the hard forks are performed. However, significant changes are expected to arrive at Ethereum’s ecosystem in the following week, and ETH investors will likely keep a close eye on the project during that time.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
What Changes May the Crypto Space Experience in 2019
After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.
However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.
Bitcoin ETF approval
The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.
Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
A Trading BOT that Works, Meet Athena!
The Impact of SEC Regulation and the Crypto Bear Market on Ethereum
Bexplus Trader Expert Sharing: Which Investment in Bitcoin can Make Profits?
Don't Miss2 weeks ago
Wirex adds WAVES to its Platform
Blogs7 days ago
3 Cryptos To Blow Up In The Next Bull Run
Blogs6 days ago
3 Coins with the Largest Potential in 2019
Bitcoin2 weeks ago
Bitcoin Grows Beyond $4,000
Altcoins5 days ago
Will 2019 be the Year of TRON (TRX)?
Altcoins2 weeks ago
TRX vs ADA: TRX Overtook ADA for 8th Place
Altcoins2 weeks ago
TRON (TRX) Surges by 20%
Blogs6 days ago
Do or Die: 3 Crypto Projects that Really Need to Deliver Soon