The time period of 10 days from 15 December to the day of Christmas has been beneficial to the crypto market. In the same period, the crypto market has added $45 billion to its value, as well as Bitcoin crossed the milestone of $4200. The analysts of the crypto market are most likely to be positive about the swell of price trend which is heading towards the end of the year.
Bitcoin, Ethereum, XRP Trends in Crypto Market
The crypto lovers read a variety of information these days. Some days their news feed fills up with disappointment, whereas, other days they get positive news that enlightens the mood. The graph of the crypto market is unpredictable these days, and so are the values of cryptocurrencies.
The fluctuation graph of Bitcoin and other major altcoins is undoubted in the market where the share prices are falling constantly. The leading cryptocurrency of the world Bitcoin is down by 79% – Ethereum (ETH), along with Ripple (XRP) are down by 89% from their lifetime high.
It has also seen that the prices of Ethereum increased by over 51% comparatively to the United States dollar. In the same flow of prices, a statement from Alex Kruger – an economist and crypto trader, comes that says:
“7 days ago ETH was down 94% from all-time highs. Now, after a 52% increase in 7 days, ETH is only down 91% from all-time highs.”
For investors to believe that the digital currencies stand no longer in the market; where the prices drop down constantly, the prices of virtual assets have to increase by 20% to 30% compared to the United States dollar.
Earlier this month, Willy Woo, an analyst in the crypto market, said that the largest cryptocurrency value around $4200 on fiat-to-crypto exchanges. Although Bitcoin has overcome the milestone of $4000, a breakout of $5000 will confirm the bullish price movement.
Since the month of December, it is observed that the crypto market has made a record increase in value from $100 billion to $145 billion, which is around a 45% increase since mid-December.