Reflections on a Tumultuous Year
2018 was the year crypto traders collectively pulled their hair out, only to be met with confusion at year’s end. What began with high hopes has left many wondering if it’s time to panic or to grab popcorn for the dramatic show of market fluctuations. Results of a recent Chinese survey revealed that about 40% of respondents would still consider investing in cryptocurrencies in the future—that’s roughly one in two traders who are still holding on to optimism amidst the chaos.
The Bullish Call for 2019
Riding the wave of this uncertainty, experts believe positive changes are on the horizon in 2019. Institutional investors are the proverbial knights in shining armor the market craves to restore its former glory. All signs point to a gradual uptick rather than an instant astronomical rise; after all, it’s important to keep expectations in check (don’t hold your breath!).
Bitcoin’s Ongoing Struggle
Let’s take a deep dive into the top cryptocurrencies. Bitcoin is trying to muster the strength to break out of its flat 20-day EMA, yet its struggles are palpable. If it falters beneath the $3,598.99 mark, don’t be surprised to see a flurry of selling pressure. The bullish hopes won’t even get a chance to take flight unless it can break above $4,255. Keep your eyes peeled for this neck-and-neck battle!
Ripple and Ethereum: Sidekicks in Distress
XRP: A Rollercoaster Ride
Ripple, or XRP, is tangled in a web of resistance at the 50-day SMA. If it fails to punch through, brace yourselves for a probable drop to $0.33108. The overall outlook is lukewarm at best; however, if the bulls can rally, we might just see a short-term spike above $0.40.
ETH: The Fence-Sitter
Then we have Ethereum, who seems to have found comfort at $153. It’s perched ominously close to a bullish crossover, but one misstep below $116.3 could plunge it into deeper uncertainty. Who knew crypto drama could rival a soap opera?
Other Unsung Heroes
Bitcoin Cash’s Rocky Road
Bitcoin Cash is holding onto the edge of its descending channel, hoping for a breakout that could signal a bullish flag. If this plays out, short-term traders could see an uptick towards $355, but the market is as unpredictable as a soap opera villain!
Litecoin: The Comeback Kid?
Litecoin is caught in a tug of war with the 50-day SMA, and it’s not giving up easily. A successful breakout above $36.428 could turn the tide, but beware of slipping back under $28.067—the last thing anyone wants is to see Litecoin take a nosedive!
Final Thoughts
As 2018 wraps up and we eagerly await what 2019 holds, remember to proceed with caution. The excitement of cryptocurrency comes with a large serving of risk, so whether you’re investing, trading, or merely spectating, keep those risk management strategies close! Ride the waves, but don’t forget to keep your life jacket handy!
