Cryptocurrency Trend 2018: Bearish Trends are Marking the Year

Analysts and crypto enthusiasts had great expectations for the year of 2018 based on the cryptocurrency market trends of 2017.

The last year allowed the cryptos to go through a major market boom, preparing to take off towards reaching all-time high prices where Bitcoin alone was able to get to the price of 20,000$ per one unit.

However as 2018 began, we could see cryptocurrencies caught up in frequent negative market trends bringing price cuts and even new lows in November 2018.

Many of top cryptos touched their new lows for the year, although the market is seen in a rebound during the last days of November.

Here are some of the most memorable trends that have marked the year of 2018.

The Value of Cryptocurrencies Goes Down to the Red

Even though the majority of cryptocurrencies are seen in a serious rise today on November 20th, the market was severely hit by a series of negative market trends that brought many of the top trading cryptos down to their new low prices.

Bitcoin dropped below 5,000$ and Ethereum even went below 140$, while Bitcoin Cash lost over -50% of its value in the course of the last 7 days despite the recent gains of nearly 17% in the last 24 hours.

In the meanwhile, November was not the only month in 2018 that brought severe dips as the currencies were dropping continually from month to month, over and over revisiting lows.

Back in February, the market took a dip as well, also going towards declines in April, June, and August, approximately having the crypto market dipping at every two months.

That is how the majority of the cryptos in the market, including the top traders, are showing negative returns on monthly and yearly charts, weekly losses included as well.

Top Trading Cryptos Going to New Lows

Another memorable trend taking place in November 2018 is the major dip that brought many top trading cryptos to their new lows.

That is how Ethereum, Bitcoin, Litecoin, and Bitcoin Cash touched new lows for the current year, marking record losses in the course of the last two weeks.

Although the crypto market is at peace for now with collecting gains, while BCH is going up by 16% at the moment, the end of January 2019 and the beginning of February are said to be bringing new dips to the crypto market.

Coinbase Listings and Price Pumps

Another trend in 2018 that was formed back in June with the announcement that came from the officials of one of the biggest exchange, Coinbase, when it was stated that all cryptocurrencies are now able to submit their listing forms to Coinbase.

Coinbase is said to be one of the biggest and most influential exchanges in the markets, bringing price pumps and increased positive momentum for any crypto they add or mention as their point of interest.

Coinbase still holds the same influence in the crypto verse, which was proved more than several times and demonstrated once again with adding Ethereum Classic, Basic Attention Token, and 0x to their list of trading cryptos.

Each of the added cryptos had their bull run right after the listing on Coinbase was made official, also acquiring the increased momentum, as well as collecting gains prior to being listed in accordance with the Coinbase announcing the future listings.

Become A Financial Analyst at TheOofy.com: Signup now to start sharing your experience. Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.