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The new year started with new hopes and everything seemed to be going well until Bitcoin decided to head south, causing other cryptocurrencies to follow his path in the grizzly butchery.
BTC
Bitcoin, the world's first cryptocurrency, recently celebrated its tenth anniversary of the genesis block, and prices were going well after a sharp decline last year. However, on January 10, 2019, at 06:00 UTC, prices had a reversal and started south without any signs of moderation.
Source: CoinMarketCap
The one-day candle shows a sharp decline in price from $ 4,025 to $ 3,813, which is a massive reduction of $ 212 in a day. The wick of the candles lowered even lower, starting at $ 3,758.
According to the CoinMarketCap charts, prices have fallen in two successive phases, the first being the same as above, while the second one took place the same day at 21:34 UTC when prices fell to $ 3,667. Prices continue to hold up at this level and show absolutely no sign as prices could shift in both ways.
The 24-hour trading volume for Bitcoin was $ 7.12 billion, which was higher than it was before the fall. BitMex is still the biggest source for Bitcoin trading volume as it contributes a total of $ 1.7 million in trading volume via the BTC / USD trading pair.
XRP
Most cryptocurrencies, including XRP, are still affected by Bitcoin and the price of these altcoins in most cases always follows the trend of Bitcoin.
Source: CoinMarketCap
The same happened on 10 January 2019 for XRP as its price fell from $ 0.38 to $ 0.36 during the same period in which the Bitcoin collapsed. According to data obtained from CoinMarketCap, XRP prices also fell in two peaks. The second drop came around the exact moment Bitcoin fell, at 21:31 UTC.
The decline plunged XRP from $ 0.34 to $ 0.32. Prices are currently around $ 0.3283 and market capitalization at $ 13.53 billion. The trade volume for XRP has actually increased from around $ 600 million to $ 782 million, even after the price collapse.
The trade volume for XRP comes mainly from the Korean markets through the exchange pair, UPbit and XRP / KRW trading, which is followed by ZB.COM via the XRP / BTC trading pair.
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