Bitcoin rises to nearly $3900 hitting one-month high

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.

Bitcoin (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%).