Crypto Market’s Performance Report in the first half of 2019

As you know very well, the second half of 2019 is passing by and the eyes are sticking upon the fate of cryptocurrency markets. The fast-moving rally of 2017 dipped into the well of the bearish trend in 2018 which was not a good year for digital assets.

There were mixed feelings of positive and pessimistic nature about the trending behavior at the beginning of 2019 but one can see that bitcoin has performed extraordinary in the first half of the year and gained the position of king over digital kingdom.

The chart above demonstrates the successive movement of Bitcoin in an upward trend; the mark in the year-to-date period achieved by digital gold at the end of June is 240% which is a remarkable achievement when compared to the past data.

Movement in January and February

The bitcoin was clinging at $3717.60 before entering in 2019; bullish trend picked the steering to drive the trend line of BTC and stop at $4,031.09 with a 9% increase in the bullish rally. This short term uptrend failed the predictions of analysts with its hasty movement but on the other hand, the market capitalization had decreased from $125B to $115B in this period of time.

The price value dropped to $3358.83 in the first week of January but when calculated the data at the end of January, there was an 11% gain in the price value of Bitcoin and the 12% increase in the total market capitalization.

Movement in March and April

The month of March was not good for Bitcoin as there was only the 6.28 % gain in the tag price and the dominance decreased from 52% to 50%. But altcoins managed to obtain a good position in the crypto markets; the dominance of altcoins jumped from $57.28B to $65.25B.

April triggered the growth of both bitcoin and altcoins; the total market cap boomed 16.5% and adding the figure of $24B. Bitcoin clung to the hallmark of $5,333 at the end of April after breaking a strong resistance line of $5000 mark.

Altcoins soared to sky-level as the cryptocurrency Bitcoin Cash soared from $168 to $255 in the month of April.

Movement in May and June

The cryptocurrency market cap increased by more than 50%; bitcoin touched the mark of $9000 and proved May, the best month for cryptocurrency so far. The capitalization broke the records of the past 10 months and attained the position of $285B.

In the month of June, the price value plummeted to $7,450 but then move in an upward direction breaking the past all-time high value by attaining the value of $13,258.

 

 

Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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