Bitcoin (BTC) and Ethereum (ETH) Initiate Upwards Movement While Bitcoin Cash (BCH) Recovers as Wider Crypto Market Crosses $120 Billion Mark

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 A recent analysis of the cryptocurrency charts indicates that the market is now grinding upwards since Tuesday. The Bitcoin (BTC), and Ethereum (ETH) prices are reportedly leading the charge. Tuesday afternoon saw Bitcoin Cash (BCH), Bitcoin (BTC) and Ethereum (ETH) post minor against the backdrop of the crypto market recovery. All in all the signals are good. They show a recovery is on course.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$10,115.51
5.97%

Bitcoin (BTC) Recovered from Minor Morning Dip at Press Time

The 24-hour trading stats of Bitcoin (BTC) saw the top asset class register a 1% gain after having suffered a significant drop in the middle of the trading day to just under $3,500. As of the time this content was published the price of Bitcoin (BTC) stood at $3,610 in a market were stagnation appears to be a frequent occurrence in the current bear sentiment. This has made a number of analysts predict a drop below the $3,000 level or even further downward for the top digital asset.

Bitcoin (BTC) reportedly recovered from a $3,500 low as of noon on the day. It appears that this bear market might extend even further for several months or even years as a number of industry participants try to figure out the best use cases for digital currencies. Strict payment methods such as Bitcoin (BTC), which doesn’t have any serious prospects of decentralization at this point, may suffer extended depressions. All in all, the bears and coin hodlers are having a good time at the moment with discounted rates expected to continue for an extended period.

Ethereum (ETH) is Eying the $120 Mark

Earlier in January 2019, Ethereum (ETH) had gone up and moved past $140 in anticipation of the Ethereum Constantinople hard fork which was set to introduce a new set of enhancements to the network. However, the hard fork failed to launch on the slated date due to security concerns. Hence, the price of the digital asset tumbled by 5%.

Ethereum has recorded $3 arbitrage opportunities in exchanges. The majority trade stood at $118 although notable exchanges like Bitfinex and Binance have posted $121 against the USD as Ethers current fiat rate.

Ethereum (ETH) has maintained its loss in momentum in recent days, but it managed a 1% recovery as of press time. It stood at $118 on a number of exchanges. Binance and Bitfinex had Ether at $120 simultaneously.

Bitcoin Cash (BCH) is Leading the Index With its Recovery

Bitcoin Cash (BCH) is the winner today having posted gains of more than 5% in only 24 hours. Just before noon, the digital asset dropped to $116, but in less than three hours, it had already recovered. Bitcoin Cash (BCH) saw a recovery of $130.

As of press time, the Bitcoin Cash (BCH) was almost worth $130 per coin against the USD. The wider cryptocurrency market continues to reconcile the split with Bitcoin SV. The two digital currencies don’t have the market cap or combined token price they enjoyed before the fork. This has led some analysts to speculate that the hard fork is a failure overall in a non-partisan point of view. Even after both coins are adjusted for the worldwide crypto drop, the pair were nowhere near their price before the fork.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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