So, 2019.. is it uptrending after a year of correction like in the past? Check my analysis.
You can also play with it using my ideas on tradingview:
You will realize the significance level of the top 7 cryptocurrency if you look at this chart.
1. Bitcoin: BTC (Yellow dotted curve)
2. Ethereum: ETH (Blue dotted curve)
3. Litecoin: LTC (Aliceblue dotted curve)
4. Ripple: XMR (Orange dotted curve)
5. Cardano: ADA ( Brown dotted curve)
6. Stellar Lumen: XLM (Light green dotted curve)
7. Monero: XMR (Pink dotted curve)
This chart shows you the price of these 7 major crypto coins from September till now. If you look at the pink rectangle, you can realize how Ethereum(dark blue), Monero(pink), Litecoin(alice blue), Stellar(Light green) has higher price than bitcoin (yellow). But, they were not always higher, look during november, everything was less valued than bitcoin (yellow curve is at the top in Nov 2017). As Bitcoin’s price had an upward trend during the end of december, all the coin price also saw upward trend. But as Bitcoin’s price is going down, some coins are holding their value but some are losing their value. You can see, underneath the pink rectangle, falls the two coin Cardano(brown) and Ripple(Orange), these two coins are losing their value. However, Ripple had higher values in early January as you can see if you look at the last peak for all coins near Jan 2018. I never had too much confidence in Ripple as it somehow defeats the idea of crypto currency with its centralized feature (But who knows it may see light again if it can deliver its promises). Ultimately, money will flock to services which have higher utility and can gain trust.
So, these should give you some rough idea about the coin dynamics. A successful coin economy depends on how the market share or daily volume of trade is going on that coin landscape. It’s kind of similar to how Forex (Foreign Exchange market) market where currencies are traded moves, how US dollar influences Euro or Japanese Yen, or Chinese Renminbi, or Bangladeshi Taka. Hope you have an idea of evaluating crypto coins and their potential gains or losses over time and can make educated investment decisions. And I guess you can see how crypto exchange market is going to look like in future.