Cryptocurrency Markets Rally 15+ Percent, Bitcoin Value Increases $500 🚨 This article is 6 years old...
Cryptocurrency Markets Rally 15+ Percent, Bitcoin Value Increases $500
1 min read
Updated: Dec. 19, 2018 at 6:59 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
After a year of price deterioration, the cryptocurrency market has recovered some during the last two days. There is speculation that the rally could spell the end to the year-long winter, with Bitcoin recovering $500 in value.
Over the last two days, the markets have experienced a strong rally, with the overall market capitalization increasing 16 percent since midnight of Dec. 16th. Bitcoin has appreciated roughly $500 since that time, a 14.5 percent increase.
Winners and Losers
Across the board, altcoins have appreciated, and for once are doing so at a rate faster than Bitcoin. Within the last twenty-four hours, Bitcoin Cash (BCH, the ABC fork) and Stratis (STRAT) have lead the pack with 22.5 percent and 11.5 percent increases, respectively.
The largest twenty-four-hour loss has occurred around EOS (EOS), experiencing a 4.7 percent downwards correction following a robust breakout. Overall, EOS has still gained 30 percent since Sunday, going from $1.93 to $2.51.
Other notable losses include Decentraland (MANA) depreciating 4.7 percent, IOTA (MIOTA) at 3.1 percent, and Basic Attention Token (BAT) at 2.8 percent.
Potential Causes
Some possible causes to the rally could be related to Tether’s USD reserves as reported by Bloomberg. Other potential triggers could be a closing of short positions (people buy when they close a short), sparking the bull run. Or, the market could be finally reaching the oft-predicted ‘bottom.’
Future Outlook
It’s still too early to determine whether the market uptick is a ‘sucker’s rally,’ or the signal to a more sustained recovery. Yet, as always with markets as volatile as cryptocurrency, the winds can change at any moment. Those who make the right bets could get swept in the upswing or could fall flat back to a new bottom.
Bitcoin Market Data
At the time of press 6:59 pm UTC on Dec. 19, 2018, Bitcoin is ranked #1 by market cap and the price is up 0.87% over the past 24 hours. Bitcoin has a market capitalization of $66.01 billion with a 24-hour trading volume of $6.72 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 6:59 pm UTC on Dec. 19, 2018, the total crypto market is valued at at $122.93 billion with a 24-hour volume of $20.21 billion. Bitcoin dominance is currently at 53.87%. Learn more about the crypto market ›
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Posted In: Price Watch, Trading
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Bitcoin
$95,813.14
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin Cash
$513.184
Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Stratis
$0.07195
Stratis is a powerful and flexible Blockchain Development Platform designed for the needs of real-world enterprise and financial services..
EOS
$0.80886
EOS is a blockchain protocol that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications..
Decentraland
$0.59291
Decentraland is a decentralized virtual reality (VR) platform built on the Ethereum blockchain.
IOTA
$0.22581
IOTA is focused on being useful for the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications where a scalable decentralized system is warranted..
Basic Attention Token
$0.30311
Basic Attention Token (BAT) is an Ethereum-based token that improves the efficiency of digital advertising by creating a new unit of exchange between publishers, advertisers and users.
Tether
$1.00075
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
