As the end of the week has come, the market seems to be holding in the green area. Although, two of the top-ten coins are already reversing – XRP (-0.45 percent) and Tether (-0.38 percent) at the time of writing.
The market favourite today seems to be BCH, adding 44.75 percent over the last 24 hours. With the current market cap of $3 819 403 178, it is now trading at $217.97. It is closely followed by BCH SV, which rose by 34.71 percent, now sitting at $127.16.
EOS has gained only 0.46 percent. Litecoin, Stellar and Bitcoin have gained under 3 percent each, with BTC trading at $4 082.27.
Yuri MolchanExpert opinions
Overall, Twitter shows that prominent crypto traders are feeling positive, calling the current bullish rally a Christmas break granted by bears. Joseph Young, a U.Today contributing author, is one of them.
I guess even the bears thought complete decimation in crypto market during Christmas season is too brutal. Market seeing some breathing room. Will likely continue to see wild volatility.
— Joseph Young (@iamjosephyoung) December 21, 2018
Chart below shows weekly performance of cryptocurrencies above $100m in market cap pic.twitter.com/wiMLDImhAr
The Crypto Dog, it seems, expects the Bitcoin rally to keep going.
Good morning people of Great Britain are you ready to pump Bitcoin again? pic.twitter.com/zLhxSk2Vnm
— The Crypto Dog? (@TheCryptoDog) December 21, 2018
However, veteran technical trader Peter Brandt believes that the market might be in for a reversal as soon as people all over the planet stop curing their New Year hangover.
He believes that even if Bitcoin goes anywhere higher, like $4,600 at a push, this would be a ‘dead cat bounce’, far from a real reversal to an actual upward trend.
Brandt adds that if Bitcoin drops below $3,000, the likely bottom would be waiting at the $1,200 level, similarly to the situation in 2013 – and all this can happen by the end of Q1 of the new 2019 year.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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