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If you have paid attention to the progress of the sector, then you already know that cryptocurrencies have been down for months. Bears started to put pressure on the market in February and refused to give the bulls a chance to recover in the long run. Many cryptocurrencies have reached minimum levels during this period that has brought them far from their historical highs. However, the strong have still suffered from this danger with the hopes of recovery.
While some cryptocurrencies have managed to keep some of the earnings in December 2017, others do not. In fact, some are traded lower than they did this time last year. Yesterday, it was a sell-off that led to a price depression that led to the worst cryptocurrency, Bitcoin, at its worst fall from October 11th. As expected, other cryptocurrencies followed a 3-10% drop and a 12-day consolidation break. How are some of these cryptocurrencies doing?
Litecoin (LTC) Price analysis
Yesterday, Litecoin LTC fell against the USD moving below the $ 50 support. Today it attempted a recovery and is now trading at $ 49.82. This shows that it is up 1.50% from the US dollar and up 0.89% from Bitcoin. The trading volume over a 24-hour period is $ 358,353,308 while the market capitalization is $ 2,938,218.335.
Litecoin (LTC) Price today – LTC / USD
Price analysis of Ethereum (ETH)
ETH has suffered a lot due to the price depression in recent months. A year ago, it was trading at $ 305. However, yesterday, the second largest cryptocurrency by market capitalization was changing hands to $ 197. Today, ETH is trading at $ 199.72. It increased by 1.13% and up 0.52%, but still far from the point of $ 305.
Price Ethereum (ETH) today – BTC / USD
Price analysis Dash (DASH)
A year ago, DASH was trading at $ 472. At the beginning of the bear market, the cryptocurrency started to fall lower and lower. Yesterday, the price of Dash was $ 154. Today the cryptocurrency is trading at $ 153.31. This shows that it is down 0.20% compared to the USD and down 0.80% compared to Bitcoin.
Dash (DASH) Price today – DASH / USD
It is true that last year's price increase was influenced by the ICO frenzy. However, no one would have been able to predict that the price will drop so low. When Bitcoin went close to $ 20,000, everyone else followed. The total market capitalization rose to $ 817 due to the upward trend. Many experts predicted a recovery at the end of the year, but with only two months left in 2018, it is difficult to predict whether price action will change in favor of bulls.
Currently there are no signs of a long-term bullish reversal. In fact, the price may very likely continue to be bearish until the start of next year. On the other hand, the cryptocurrency market is unpredictable. So, a lot can happen in the next 60 days of the year. The bulls can have a full return which will cause a peak in the price of all cryptocurrencies starting from Bitcoin.
