And then you have to hear Bohemian Rhapsody on the Radio-2. This is a good moment to look back at the highlights of the cryptocurrency in 2019. How did the bitcoin, ethereum, litecoin, ripple and the bitcoin cash in the past year?
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Litecoin block halving went to the market to move up
A lot of people will already have forgotten about it, but it was litecoin which the cart is pulled to the beginning of 2019 at the latest. Especially, on February 8, it was a beautiful day, and the price jumped by more than 36 percent.
You would think that increase has to do with the enthusiasm surrounding the litecoin block halving in August 2019. When the block halving will be the reward for miners is reduced by half. This is a reward, it is at the same time, the influx of new litecoin available on the market.
Half of the new supply and demand remains the same? Then, increase the price. It may well be that investors will have to respond by the litecoin to buy it.
In the chart below, you can see that the litecoin (purple) for faster roll out started with bitcoin. On the 22nd of June, it is the epitome of 2019 is reached. Litecoin was 128 euro. An increase of 391% compared to the beginning of the year.
Bitcoin was carried out by Libra and Bakkt
In February, the bitcoin exchange rate is slowly on the hot water. In the beginning of april, it is very, very, very fast. On april 2, and raised the price by almost 22 per cent, in an hour’s time! And that led us to the office for a lot of happy faces:
The race went to the moon, and it turned out to be due to technical analysis. But not only that, but the cryptonieuws made the move up.
Similarly, in march, rumors that Facebook is a private cryptomunt would like to develop. With the cryptocurrency, libra wants to be Facebook, anyone with internet access to be able to pay their own money to manage. It’s just like bitcoin, but controlled by a company that has all of that, you know.
Also, the hype around bitcoin futures platform with Bakkt created excitement in the market. By Bakkt, it is possible to use to trade in bitcoin futures contracts. Unlike the other parties involved, these contracts are backed by bitcoin instead of us dollars. Bakkt it would, therefore, have an immediate impact on the bitcoin price may have.
More and more nieuwsplatforms wrote about bitcoin, just as it seemed it again in 2017. Even Donald Trump couldn’t keep his own opinion to let it get dark. He thinks bitcoin and cryptocurrency, but nothing at all.
Bakkt, and Facebook driving the bitcoin price up to a height of approximately 12,200 euros, on the 26th of June. From then on it was a downward trend, though.
The very start of the Bakkt he gave the bitcoin exchange rate and a push to go down. On the first day, there were 28 contracts are traded. The bitcoin price went down in an hour’s time, with nearly 16 percent of the time.
After that, it was a moment of joy. The Chinese president also said that he is blockhain like. The enthusiasm was great, and the Chinese government, it is normally not an advocate of the cryptocurrency. In one day, flew to the race with 40 percent to be raised.
Still, let’s get back to the technical analysis. If you are a loyal fan of our items have been moves in the bitcoin exchange rate between two parallel trend lines. It’s called a channel. Know what bitcoin is, by 2020, this downward trend may be breaking!
Altcoins are put off, bitcoin’s dominance increases
In the second half of this year, bitcoin is its own way. While bitcoin (the yellow one) in the summer, its worth trying to keep, let’s cryptomunten, such as the ether (in red), bitcoin, cash (green), and xrp (blue), it’s up to par.
Mainly to xrp can be cryptomarkt’t keep up with it. If you bought it in January of 2019 at the latest xrp, then you are more than 48 per cent in the red. With the bitcoin cash in (22.9 percent), and ether (2.8%) ‘m still in the plus.
According to analyst Jacob Canfield has xrp in the bottom, it still has not been found. He believes that the xrp, even for a ten-cent can be decreased. Then and only then, he bought xrp.
But who knows, it might be next year just a good year for the air. In 2020, it will be Ethereum namely, to be migrated to Ethereum 2.0, a new version of the network. Transactions are are verifying becomes more energy-efficient than bitcoin. Who knows, it attracts new interest, and that can be a good thing for the air exchange rate.
Dominance of a single bitcoin continues to grow
In the chart below, you can see the power of bitcoin in the market as a whole. In other words, what is the percentage of the cryptomarkt is out of bitcoin? At this point, is the fact that nearly 70 percent of the time. And that’s an incredible amount, especially when you consider the fact that there are almost 5,000 of cryptocurrency are.
The predominance indicates that a bitcoin is, this year the overall better value compared to other cryptomunten on the market. However, that does not mean that there are no coins that have better performance than a single bitcoin. If it is Chainlink (LINK below) and this year, for example, with a 533 percent increase in value increase!
Looking forward to hearing the other winners of 2019? Previously, we wrote about the best cryptomunten of the past few years.
What do you expect in the coming year?