Summary:
- Cryptocurrency market awakes as major cryptos experience huge rises
- Blockchain was the most overrated word of 2018, as survey says
- Bitcoin hits one-month high increasing to nearly $3900
Most of major cryptocurrencies experienced significant rises yesterday. Moreover, the three largest virtual currencies - Bitcoin, Ripple, and Ethereum - hit their one-month highs. As a result, the capitalization of digital currencies increased to around the $133 billion mark whereas the market capitalization of altcoins jumped to around the $65 billion handle, as CoinMarketCap reports.
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Open account Try demo Download mobile app Download mobile appBitcoin (BITCOIN on xStation5) clearly broke its 50-period moving average (a light green line) on the daily chart and it increased from around $3600 to around $3850 yesterday. Source: xStation5
Bitcoin rises to nearly $3900
After several days of lazy trading, the largest cryptocurrency Bitcoin jumped up and hit its one-month high. As a result of bullish charge, the virtual currency price gained around $250 within just 24 hours. The digital currency broke a key resistance area around $3650 which coincided with the 50-period moving average on the daily chart. Nevertheless, it seems that Tuesday’s trading may stop Bitcoin bulls. However, the long upper wick of today’s candlestick may indicate that bulls are trying to push the cryptocurrency price higher.
Ethereum (ETHEREUM on xStation5) experienced another bullish candlestick on the daily chart yesterday. Moreover, the cryptocurrency has begun Monday’s trading also in green. Source: xStation5
Survey: Blockchain was the most overrated word of 2018
“Blockchain” was most overrated word of the year, according to Media Post’s Research Intelligencer study. Namely, 26% of surveyees chose “blockchain” to answer about the most overrated word of 2018. The second place was occupied by “AI” and “programmatic” (both 19%), but the third place belonged again to cryptocurrency-related words as “crypto” (12%). To conduct a study, Media Post surveyed 120 marketers and 181 ad agency executives in January 2019. What’s interesting, advertisers more often chose “blockchain” (31%) than agencies (22%).
Ripple (RIPPLE on xStation5) increased significantly yesterday. It has experienced sizeable rises so far today. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.