Crypto Markets See Slight Growth with Bitcoin Above $3,600

According to Coin360 statistics, the crypto market is showing some positivity as it rose on January 16. In the last 24 hours, most of the top 20 coins had seen a bullish trend while Bitcoin held firmly above $3,600.

Bitcoin maintained its lead as it stood in that position for the day while it touched a high of $3,707 over the past 24 hours. At the time of writing, the crypto giant was positioned at $3,644 seeing a gain of around 0.65 percent through the day.

Ripple (XRP), was trading at $0.33 at the time of writing this article. It witnessed a rise of 0.86 percent during the same period. Not much variation was seen by the altcoin which stayed close to $0.33 throughout the day.

Ethereum, which is presently third among the digital assets by market cap, has shone by leaving behind Bitcoin and XRP by rising by around 1.45 percent and was currently trading at $122, at the time of writing. For the week, Ethereum saw it’s lowest at $115.56 on January 13 while it touched the highest on the same day at $151.94.

Reports confirmed that Ethereum’s Constantinople hard fork is postponed due to security reasons which could see a re-entry of fictitious firms. A reentrancy can occur when it is possible to steal cryptocurrency on the channel, by continuously asking for funds while disclosing wrong statistics about the true ETH balance.

According to CoinMarketCap, 18 out of 20 currencies saw a rise of around 0.57 percent to 4.55 percent in the last 24 hours of trading.

Binance Coin led the pack with over 4.5 percent increase and was trading at $6.18.

The only coins that saw selling pressure among the top 20 are USD Coin and Tether, losing 0.04 percent and 0.41 percent respectively through the day. If all the cryptocurrencies are put together, their market cap stood at $122 billion, which was less from its intra weekly high of near about $123.3 billion.

Reports by Credit Karma on January 15 stated that investors in the United States who sold out their Bitcoin holdings have witnessed a loss of over $1.7 billion. Among them, 53 percent have decided to show the losses so that they can avail tax subsidy, while 19 percent are still unsure on what is to be done. 35 percent who faced losses are likely not to report the losses in their tax returns.

In a speech at the Gaidar forum, Russian Prime Minister, Dmitry Medvedev proclaimed that the huge bearish trend faced by the digital assets in 2018 does not highlight that the crypto market is down and out.

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