Markets Update: Crypto Prices Begin to Slump as the New Year Approaches


Most cryptocurrencies took a hit on Christmas Day, losing between 5-10% after having a decent run of solid gains last week. Some traders had assumed digital asset markets would be rather dull during the holidays, but the correction was deep and fast. At the moment, the entire cryptocurrency economy is worth $126 billion as traders are curiously waiting for the next big move.

Also read: Year in Review: 2018’s Top Cryptocurrency Stories

Crypto Markets Show It’s Too Soon to Call the Bottom

Cryptocurrency markets have consolidated a little after taking some deep losses during the early morning hours of Dec. 25. Global trade volume for the entire ecosystem of digital assets had dropped a few billion since last week’s price spikes, and bulls are starting to show signs of exhaustion. This Wednesday, the combined valuation of all 2,000+ cryptocurrencies in terms of 24-hour trade volume is roughly $17.4 billion. Bitcoin core (BTC) is trading for $3,792 at the time of publication and its markets are capturing $5.4 billion worth of today’s crypto trades. BTC is down 0.14% over the last 24 hours and down 1% for the week. The second largest market capitalization is commanded by ripple (XRP) which is trading for $0.36 per coin. Ripple markets are down 1.7% over the last day and are down 1.5% for the week.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Top 10 cryptocurrencies on Dec. 26, 2018.

Ethereum (ETH) has had a much better run over the last few days, with ETH markets up 0.55% today and 21% during the course of the last seven days. ETH is trading for $127 per coin and has a total market capitalization of around $13.2 billion. Lastly, the fifth biggest market valuation is still held by eos (EOS), where each token is swapping for $2.52. EOS has a $2.2 billion market cap and is up 1.8% today but down 3.9% for the week.

Bitcoin Cash Market Action

Bitcoin cash (BCH) markets are still doing very well this week after last week’s phenomenal 140% gains. BCH is still up by 32% over the last seven days and markets are up 3.2% in the last 24 hours. At the moment, BCH is trading for $168 per coin and the market has an overall valuation of about $2.9 billion. Trade volume is about $100 million lighter than a few days ago as today’s global BCH trade volume is around $551 million.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitcoin Cash (BCH) daily chart on Wednesday.

The top five exchanges swapping the most bitcoin cash are Lbank, Binance, Huobi, Coinbase, and Hitbtc. Lbank and Binance are capturing about ⅓ of today’s BCH trades. The top currency today paired against BCH is tether (USDT), with 47.3% of trades. This is followed by BTC (20.9%), ETH (16%), USD (7.4%), JPY (3.9%), and the KRW (1.9%). Bitcoin cash is the sixth most traded cryptocurrency on Wednesday above litecoin but below the volume of ripple.

BCH/USD Technical Indicators

Even though there was a sizeable dip the other day, a few indicators on the charts still look bullish. Looking at the four-hour BCH/USD chart on Bitstamp shows the two Simple Moving Averages will be crossing hairs very soon as the 100 SMA may rise above the longer term 200 SMA. For now, the path toward the least resistance is still the downside, but in the near term it looks like a trend change may appear.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitstamp BCH/USD 4-hour on Dec. 26, 2018.

Right now the Relative Strength Index (RSI 4-H -44.96) is meandering in the middle, indicating more uncertainty. The Holidays may be inflicting a slight lull as the stochastic reports the same findings over a broad set of trading ranges. Looking at the order books shows bulls need to muster up more strength to penetrate the $200 region again and gain headway. On the backside, bears will see pit stops all the way until the $150 range and a few more speed bumps if it falls below that price zone.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitstamp BCH/USD 4-hour window.

The Verdict: Uncertainty Remains Strong

This week has seen traders perusing ideas on Tradingview, some discussions between swing traders on Twitter, and Telegram trading channels showing people think the “bottom” has not yet been reached. The dip in trade volume was to be expected over the holidays between Christmas and New Year and analyzing crypto market trade volume may not be a great source of confirmation this week.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Cryptocurrency & Fiat money flow over the last 24-hours on Dec. 26, 2018.

BTC/USD and ETH/USD shorts are still well above normal, but discernibly less than two weeks ago. If digital asset markets cannot hold above the 50-day exponential moving average (EMA) then traders may see even lower bottoms in the near future. Overall, uncertainty remains high for traders who won’t attempt to call the bottom. Their stance is prudent one given that price letdowns have been one of the few certainties throughout the entire year.

Where do you see the price of BCH, BTC and other coins heading from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Trading View,, Bitstamp, and Satoshi Pulse.

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The Daily: BTCP Bug Exploited by ‘Bad Actor’, Binance Lists New Pairs


The main story featured in today’s edition of The Daily is an official conformation from the Bitcoin Private team that someone has premined millions of BTCP. We also report about the latest currency pairs made available for trading on the Binance exchange.

Also Read: Report: Over 300 British Blockchain Companies Shut Down in 2018

Bitcoin Private Bug Exploited by ‘Bad Actor’

The Daily: BTCP Bug Exploited by ‘Bad Actor’, Binance Lists New PairsThe team behind Bitcoin Private has issued an official statement regarding a Coinmetrics report alleging that there was a covert premine of about 2 million BTCP at the creation of the token. The developers say they preformed an investigation after being made aware of the issue and determined that the findings are “mathematically accurate.” However, they claim that they have no connection to whoever was behind this exploit.

According to their internal audit, an open source developer became a BTCP developer to work on a specific issue in exchange for a bounty. This developer was given access to the project on Github in January, wrote his code, collected the reward, and hasn’t been heard of again. But one line of code was missing which enabled the exploit due to the nodes not properly verifying the falsified fork blocks.

And during the publicly announced fork-mine, a “bad actor” exploited this bug, the developers say. “As the code was open source, and the fork-mine was announced on Twitter, anyone with sufficient blockchain development knowledge could have exploited it. At this point, the only thing we can be sure of is that the BTCP Contribution Team did not know about the exploit until it was uncovered by Coin Metrics.”

The developers have put forward two possible plans for fixing the issue using hard forks to choose from, based on community feedback. In the meantime, they requested that all exchanges close deposits and withdrawals of BTCP to mitigate any damage that could be done. Users are also advised to proceed with caution when moving coins.

Binance Exchange Lists New Pairs

The Daily: BTCP Bug Exploited by ‘Bad Actor’, Binance Lists New PairsBinance, the popular international cryptocurrency exchange, has announced it is adding two new trading pairs (TRX/XRP and XZC/XRP), with Ripple’s XRP as the quote asset into the new Combined ALTS Trading Market (ALTS). The move naturally created a lot of excitement and buzz among Ripple’s cheerleaders on crypto social media.

Alongside this development, Binance also announced that the original ETH Trading Market (ETH) will be renamed into the ALTS Trading Market. This is done to reflect the fact that the trading venue now wants to support more trading pairs with different quote currencies.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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PR: XRP Is Now Available on EO.Finance


This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

We are pleased to announce that Ripple XRP has been added to EO.Finance! For those unaware, XRP is currently the second largest cryptocurrency in terms of market capitalization. Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred.

With the recent addition of card payments to EO.Finance it is now possible to buy XRP with your credit and debit cards. You can also exchange a number of cryptos to XRP and back, deposits and withdrawals have also been introduced.

This is a timely new inclusion as XRP has emerged as a front runner during the last months Bear market, growing 50% in the last week alone – it rose from $0.28 to $0.42, and is much tipped to lead any future Bull Run. Despite XRP showing much promise, not many wallets have offered support, meaning EO.Finance is one of the few places you can purchase XRP with such ease.

EO.Finance is part of a fully licensed ecosystem, it holds European licenses for crypto wallet #FVR000161 and crypto-fiat exchange #FRK000193.

To register an account simply download the app on iOS or Android, EO.Finance is also accessible through browsers, as well as Chrome and Firefox extension.

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Video on how to buy cryptos with EO.Finance:

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This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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A Look Back at the Top Cryptocurrency Markets From Christmases Past


The cryptocurrency ecosystem has grown dramatically in just a few years, with the number of crypto markets increasing from 59 in 2013 to over 2,000 today. Looking at historic snapshots of the cryptocurrency markets from Christmases past also shows a significant turnover in the leading altcoins by market cap.

Also Read: Report Finds a Strong Relationship Between Crypto-Advocates and Life Extension

Number of Crypto Markets Increases by 10x During 2014

A Look Back at the Top Cryptocurrency Markets From Christmases PastWhile many point to 2017 as the year in which the cryptocurrency markets saw their most dramatic growth, 2014 saw the number of virtual currencies increase by nearly 1,000%. As of Dec. 28, 2014 there were 506 active markets according to Coinmarketcap, up from just 59 on Dec. 22, 2013.

Despite the impressive growth in the number of active markets, the price performance of many of the leading cryptocurrencies by market cap was extremely bearish, with six of the top 10 cryptocurrencies losing more than 80% in one year.

Between Dec. 22, 2013 and Dec. 28, 2014, BTC lost nearly 50%, falling from $619 to $316. Litecoin (LTC) fell from the second ranked market by capitalization to fourth, posting an 84% loss from roughly $17.10 to $2.74. Ripple (XRP) was the only top market to gain year over year, up 7% from $0.022 to $0.024. XRP climbed from third to rank as the second largest cryptocurrency by market cap.

Peercoin (PPC) fell from the fourth largest crypto to rank 19th, posting an 81.5% loss as prices dropped from $3.12 to $0.58. Fifth-ranked namecoin (NMC) dropped to 13 with price falling 82.5% from $4.13 to $0.72. Quark (QRK) went from the sixth largest crypto to rank 27th with a price drop of 92.6%. Nxt (NXT) posted the second strongest performance among the top-ranked crypto markets of late 2013, climbing from seventh to ninth despite an 18% drop in price from $0.02 to $0.017.

At the end of 2013, bitshares PTS (PTS) comprised the eighth largest crypto by market cap with a token value of $12.45. One year later, PTS was ranked 45th after suffering a 99.99% drop from $12.45 to $0.00049. Ninth-ranked worldcoin (WDC) dropped to 53rd, posting a 98.5% loss from $0.4 $0.006. Megacoin (MEC) fell from 10th to 48th by market cap, producing a 96.8% drop from $0.52 to $0.017.

Five of the top 10 virtual currencies as of late 2013 retained their top 10 ranking the following year.

Of 2014’s Top Markets, Only BTC and LTC Posted Price Gains 1 Year Later

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC gained 32% from Dec. 28, 2014 to Dec. 27, 2015, up from $316 to trade for $416.50. Ripple was able to retain its position as the second largest crypto market despite losing 94% from $0.024 to $0.0062. Despite ending 2014 as the third-ranked crypto market, Paycoin (XPY) would close 2014 as the 48th-ranked cryptocurrency after posting a 99.6% loss from $10.74 to $0.038.

LTC gained 25% during 2014, moving from fourth to third alongside a price increase from $2.74 to $3.43. Fifth-ranked bitshares (BTS) dropped to eighth, posting an 80% loss from $0.016 to $0.003. maidsafecoin (MAID) moved from sixth to tenth, producing a 72% drop in price from $0.05 to $0.014.

Seventh-ranked stellar (XLM) finished 2015 as the ninth-ranked crypto market, falling 70% from $0.0058 to $0.0017. Despite dogecoin (DOGE) falling 23% from $0.00018 to $0.00014, doge ascended from the eighth largest cryptocurrency to rank sixth at the end of 2015. Ninth-ranked NXT fell from the top ten rank 11th alongside a price drop of 63% from $0.0161 to $0.006167. While PPC posted a yearly loss of 31% following a drop from $0.578 to $0.4, PPC ascended the market cap rankings from 10th to seventh.

Eight of the dominant markets from Christmas 2014 held their top 10 ranking as of the end of 2015. The number of active markets increased 11% from 506 to 562.

BTC, ETH, DASH, and MAID Posted Triple-Figure Gains for 2016

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC gained 111% from $416.50 on Dec. 27, 2015 to $878.80 on Christmas Day 2016, following a year of bullish action for the cryptocurrency markets. XRP posted slight gains during 2016, up 3.4% from $0.00617 to $0.00638, resulting in a drop from second to third, ranked by market cap. While LTC posted a 27% gain from $3.43 to $4.35, LTC also shifted down one rank, finishing 2016 as the fourth largest cryptocurrency.

Fourth-ranked ethereum (ETH) was the top performing market of 2016, gaining nearly 760% from $0.85 as of late 2017 to finish the year as the second largest crypto asset with ETH trading for $7.29. Despite dash gaining nearly 270% from $2.69 to $9.91 between the Christmases of 2015 and 2016, it moved from the fifth ranked cryptocurrency to seventh as of Dec. 25, 2016. Sixth-ranked doge fell from the top 10 during 2016, finishing the year as the 13th largest market after posting a 42% gain from $0.00014 to $0.00023.

PPC was the only top market of late 2015 to post a loss one year later, dropping from seventh to 38th in market cap ranking after producing a 43% loss from $0.41 to $0.23. BTS posted a 26% gain from $0.0034 to $0.0042, however fell from eighth to 25th ranked cryptocurrency by capitalization. Despite posting a 55% gain from $0.0017 to $0.0026, XLM slid from ninth to finish the year ranked 16th. Maid moved from 10th to finish the year as the eighth largest cryptocurrency following a massive 620% gain from $0.014 to $0.10.

Six of the leading markets from late 2015 maintained their position in the top 10 as of Christmas 2016. The number of active markets increased by 15% from 562 to 644.

2017 Bull Trend Drives Record Prices

A Look Back at the Top Cryptocurrency Markets From Christmases PastSanta delivered a bountiful Christmas to the cryptocurrency community in 2017, with nine of the top 10 markets posting four-figure or five-figure gains between Dec. 25, 2016 and Dec. 24, 2017.

BTC gained 1,500% last year, increasing from $879 to $14,057. ETH held its position as the second largest cryptocurrency by market cap, gaining 9,345% from $7.29 to $688.59 in a single year.

Ripple posted the second strongest price gain among the top markets for 2017, growing 17,140% from $0.00638 to $1.10. Despite the enormous increase in price, XRP slipped one rank to finish the year as the fourth largest cryptocurrency. LTC moved from the fourth to the fifth-ranked crypto asset by market cap alongside a 6,255% increase in price from $4.35 to $276.49.

Monero (XMR) moved from the fifth ranked cryptocurrency to 10th, gaining 3,455% from $9.63 to $342.43. Sixth-ranked ethereum classic (ETC) dropped to 17th during 2017, however gained 2,725% from $1.10 to $31.10. Despite gaining 12,140%, dash dropped one rank by market cap, moving from seventh to eighth.

Eighth-ranked maidsafe fell out of the top rankings during 2017, finishing the year in 55th after gaining 670% over the dollar but falling significantly against BTC. Nem (XEM) retained its position as the ninth-ranked market after gaining 24,345% from $0.004 to finish the year as the strongest performing leading market, with XEM trading for $0.88. Despite posting a gain of 2,280% from $2.89 to $68.83, 10th-ranked augur (REP) moved from 10th to 36th ranked cryptocurrency.

Seven of the top 10 markets from 2016 retained their leading rank one year later. The number of active markets increased by roughly 100% from 644 to 1,334 at the end of 2017.

All Leading Markets Post Heavy Losses for 2018

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC has dropped 70% in the last 12 months, falling from $14,057 on Dec. 24, 2017 to trade for roughly $4,230 today. ETH dropped from the second to the third ranked cryptocurrency by market cap following by a yearly drop of 77% from $688.60 to $156.80. Bitcoin cash (BCH) moved from third to fourth, accompanied by a 93% loss from $2,956 to $206.

XRP posted the weakest loss of the top performing markets over the last year, moving from fourth to second ranked market cap alongside a 60% drop from $1.10 to $0.44. LTC fell by 87% from $276.49 to $36.11 while moving from fifth to seventh by capitalization. New entrant cardano (ADA) moved from fifth to 11th this year, shedding 87.5% of its value from $0.39 to $0.05.

Seventh-ranked iota (MIOTA) now sits at 12th, following an 89% drop from $3.45 to $0.38. Dash moved from eighth to 14th this year, in the process losing 91.5% from $1,212 to $102. After ranking ninth for two consecutive Christmases, XEM appears poised to greet Santa as the 16th largest cryptocurrency, having lost 91% from $0.88 to $0.079. 10th-ranked XMR fell 83% from $342.43 to trade for $57.65 over the last year, currently positioned as the 13th largest market by capitalization.

Six of the dominant markets from last Christmas have held their position in the top 10, three of which have consistently held their leading position since 2013. The number of active markets has increased from 1,334 to 2,067 over the last 12 months.

How do you think the cryptocurrency markets will be performing next Christmas? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

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