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Bitcoin hovers above $5000, altcoins see moderate gains

2019 seems to be turnaround season for most cryptocurrencies.

Leading the pack is bitcoin (BTC). It just posted a good two percent increase with its value now hovering above $5,000 territory. This is a clear rebound from its low of $4,000 in the previous year according to CoinMarketCap statistics.

Most of the top twenty cryptocurrencies also saw gains albeit moderate.

Seeing the highest jump is altcoin newcomer Tezos (XTZ). It registered a rise of 8.4 percent at one point, bringing its value to an all-time high of a little above a dollar.

XTZ is currently touted as one of the top five altcoins to watch out for. This is important information especially amid crypto buzz that 2019 will be the year for altcoins.  Many crypto trade experts already claim that the market is now in altcoin season.

CoinMarketCap statistics, to some degree, seem to support these claim.  As of press time, five altcoins that directly follow BTC in value have registered consistent gains while Bitcoin’s share in the cryptocurrency space has shrunk by four percent.

Ethereum, for example, is now up by 0.35 percent with a value of $177.11. The same trend can be seen for XRP, Litecoin, Bitcoin Cash, and EOS with EOS emerging as the highest gainer at 4.67 percent.

For most crypto traders, this protracted turnaround is welcome news after a volatile 2018. Whether it holds out remains to be seen.

Disclaimer:
Technical analysis or any financial-related articles that may be construed as financial advice.

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