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BTC / USD is changing hands to $ 3,775, after a quick attempt on Sunday to recover over $ 3,800. The cryptocurrency market has entered a hibernation phase to survive the holiday markets. Bitcoin is no exception here, despite some abrupt movements of short duration in both directions. According to the statistics provided by the Messari service, the return on Bitcoin investments in 2018 was the worst ever recorded. Traders have lost more than 71% of their capital from the start of the year. To put this into perspective, it's much worse than in 2014 when Bitcoin demonstrated the similar collapse. On the 4-hour chart, Bitcoin moves inside a horizontal triangle.
ETH to buy back the Market Cap network
A sustainable move higher than $ 3,860 (the top line of the triangle) will create a strong recovery setup with the first goal at $ 4,234, which is the recent highest reached on December 24th. On the negative side, initial support is $ 3,700. It is created by a confluence of SMA100 and SMA200 (4 hours) and followed by the triangle boundary lower than $ 3,670. Once below, the sell-off can be extended to $ 3,550 and $ 3,500 psychological. Ethereum is changing hands at $ 137.61, mostly unchanged this Sunday. The currency is consolidating gains after recovering from the recent low of $ 114.68 touched on December 27th. The market value of Ethereum was $ 14.2 billion, while an average daily trading volume was € 2.5 billion.
The cryptocurrency market is relatively stable on the last day of 2018; the year of the showdown in the sector. Cryptographic currencies have recorded the highest volatility in history, while at the same time they have suffered some of the worst sales in recent years. Aside from bitcoin, ETH and XRP, which are at war for market capitalization, will see the advantage of ETH ahead and recover the status of the second largest digital asset in the world while ETH / USD is preparing for a rally of the new year in view of the highly anticipated commitment of Constantinople update of the fork. Currently ETH is $ 14.22 billion while XRP is down to $ 14.68. If Ethereum continues to receive support due to the imminent network upgrade, we will soon see the resource in its second position.
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