The Rollercoaster of 2019: BTC Rides High, Altcoins Take a Dive
In a year where Bitcoin (BTC) decided to throw a party and invite everyone (surging over 100%), the altcoins stood awkwardly in the corner, nursing their drinks with significant declines to show for it. While Bitcoin boogied on up, many altcoins were just looking for a way out or, at the very least, some potential support. Let’s take a closer look at the party crashers of the crypto world: the altcoins.
The Struggles of XRP: New Lows Hit Repeat Button
For XRP investors, 2019 was akin to a never-ending bad breakup. The price keeps hitting new lows, moving from a not-so-stellar $0.39 to a disappointing $0.195. Imagine holding onto a ticket for a concert only to find out it turned into a karaoke night instead.
Breaking Down XRP Support Levels
At the beginning of the year, XRP clung to the $0.30 support like a lifebuoy, but alas, without building any higher highs, it eventually succumbed to a breakdown. The little rescue mission ended when $0.30 turned from a lifeline into a resistance.
XRP/BTC Pair: The Rocky Terrain
Like a sitcom couple unable to move past their differences, the XRP/BTC pair has been trending downward throughout the year, falling from around 0.000096 to a somber 0.000026. That’s like losing two-thirds of your value in a year—talk about a tough crowd!
The Bullish Divergence: Hope on the Horizon?
Amidst these gloomy trends, there’s a silver lining: a potential bullish divergence is forming. Though it’s been a year full of frowns, history reminds us that similar signals in 2015 and early 2017 led to a phenomenal 5,500% surge. Here’s hoping for a repeat performance!
The Bigger Picture: What to Expect in 2020?
As we mold our crystal balls to predict 2020, one thing is clear: 2019 was a red year for most altcoin investors. Despite some lone stars like Chainlink (LINK) and Binance Coin (BNB) enjoying meteoric rises, the majority are left pondering their investments.
The Cyclic Nature of Markets
Historically speaking, the first quarter typically offers a glimmer of hope for altcoins, stirring up price movements. So, will January 2020 deliver us from despair like it has in previous years? Only time will tell, but analysts are cautiously optimistic.
Riding the Market Cycles: 2016 vs. 2019
Let’s take a step back and compare the current malaise with the ebullience of past market cycles, particularly the launch of that bullish wave back in January 2016. The contrast looks like attending a joyous wedding versus a fidgety funeral—joyful highs and treacherous lows.
The Parallels with December 2015
If XRP resembles December 2015, we might be standing on the brink of exciting developments. Once it breaks out of its downtrend, an upward movement could skyrocket XRP to $0.48. How’s that for a party invite?
Ethereum: A Similar Story?
XRP isn’t alone; Ethereum (ETH) shares a dreary tale of continuous downtrends. But remember, every dark cloud has a silver lining. Historically, the first quarter is an excellent time for ETH, often resulting in impressive gains.
Waiting for the Big Caps to Move
The crypto world waits earnestly for the big caps to kick start another effective rally. Once Ethereum begins its ascent—whether due to traction from Ethereum 2.0 or sheer market momentum—many ERC-20 tokens should fall in line, potentially triggering that long-awaited
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