2019-6-21 22:15 |
The second quarter of 2019 is coming to an end and for those who invested in cryptocurrencies this year, market prices are a whole lot higher than they were a year prior. Since the significant lows in December 2018, most digital currencies have captured remarkable gains.
Also read: Policymakers Meet to Finalize Global Crypto Guidance – A Look at Standards G20 Supports
Digital Assets Post 350-550% GainsThroughout 2018, many crypto advocates and traders referred to the year as the ‘crypto winter’ after prices fell from their all-time highs to crucial lows. That entire year showed a bearish decline and there were a ton of bull traps along the way. However, in 2019 the story has changed entirely as a great majority of digital currencies have gained considerable value throughout the last two quarters.
Binance coin (BNB) has gained +521% year-to-date.In fact, a bunch of coins, some of which are relatively unknown, have gained between 350-550% during the last six months. Binance coin (BNB) is the top contender this year after it gained 521% throughout Q1 and Q2. This is followed by chainlink (LINK 510%), ravencoin (RVN 379%), Ignis (IGNIS 357%) and litecoin (LTC 345%). However, even with these pronounced gains, litecoin, for example, is still down 64% from its all-time high (ATH).
Litecoin (LTC) has gained 345% year-to-date. Bitcoin Cash the Year’s 24th Biggest Gainer Gathers 158%Other notable coins that took the lead this year as far as gains are concerned include holo (HOT), everex (EVX), monacoin (MONA), enjin (ENJ), ripio (RCN), and zcoin (XZC). All of the aforementioned cryptos have gained 169-282% this year alone. The top 10 digital assets by market capitalization have all gained at least 100% or more in the last two quarters. The next contender behind BNB and LTC in the top ten is eos (EOS), which has seen a 164% increase.
Bitcoin cash (BCH) has gained 158% year-to-date.This is followed by bitcoin cash (BCH +158%) which is the 24th best gainer this year. Trailing behind BCH is bitcoin core (BTC) which is up 150% year-to-date. The worst two gainers of 2019 in the top 10 market valuation positions are ripple (XRP 21%) and stellar (XLM 9%). Most of these coins besides ripple and stellar have outpaced traditional investments in commodities, stocks, precious metals, and barrels of oil.
Bitcoin core (BTC) has gained 150% year-to-date. A Bundle of Coins and the Long Stretch Before Returning Back to All-Time HighsIf you invested in a bundle of coins like the Coinbase bundle the exchange offered in September 2018, you would have seen some decent gains too. At the time, the trading platform offered a market-weighted sampling which included BTC, ETH, BCH, LTC, and ETC (+67.81%).
BCH and many other coins still have a way to go before reaching the ATHs they posted in December 2017.Bitcoin core (BTC) is still 54% down from the ATH on December 17, 2017 and ripple (XRP) is down 89%. The third largest market valuation held by ethereum (ETH) is still down 81% since the coin’s ATH. This is followed by LTC (-64%), BCH (-81%), EOS (-70%), and XLM (-87%) as BNB and BSV were not around during those ATH prices.
2019’s Worst Crypto Market PerformersThe worst performers of 2019’s first two quarters include a variety of unknown and well known digital assets. Counterparty (XCP) was the year’s biggest loser so far, down 77%.
Counterparty (XCP) has lost 77% year-to-date.Other coins that haven’t done so well in 2019 include dentacoin (DCN -70%), salt (SALT -54%), substratum (SUB -50%), namecoin (NMC -49%), quarkchain (QKC -47%), hxro (HXRO -45%), and factom (FCT -42%). Other coins that lost heavily over the last two quarters consist of assets like waves, bitcoin private, electroneum, stratis, pivx, and spankchain.
Dentacoin (DCN) has lost 70% year-to-date. Where Will the Cryptoconomy Go From Here?The first six months of 2019 have been exciting for cryptocurrency enthusiasts as most of the digital economy is starting to really recover from 2018’s market losses. The entire cryptoconomy has a market capitalization of more than a quarter of a trillion dollars to date and there have been $40-100 billion in global trade volume day after day over the last two months. There’s been a lot of speculation as to why there’s new money flowing into this economy and the reasons vary depending on who you ask. Some believe that there’s institutional interest focusing in on cryptocurrencies and others think it may have to do with the faltering economies in numerous countries worldwide. Whatever the case may be, digital asset prices in general have recorded impressive gains this year.
What do you think about the gains cryptocurrencies have seen this year? Let us know what you think about this subject in the comments section below.
Disclaimer: All the prices and percentages in this article stem from the opening spot prices on Jan. 1, 2019 to the opening spot prices on June 20, 2019. The ATH prices refer to the all-time highs cryptos saw during the month of December 2017 up until today’s opening spot prices on June 20, 2019. Data was gathered from Markets.Bitcoin.com and Tradingview. Price articles and markets updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Image credits: Shutterstock and Markets.Bitcoin.com.
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