Crypto Market Analysis – Bitcoin Struggling to Break $4000

Top 20 cryptocurrencies are showing green colours on the one-day charts.  Bitcoin (BTC) is currently trading at $3965 (at the time of publishing). 

Bitcoin (BTC) the king of the cryptomarket holds 52 percent of the total market cap. The total market cap of the cryptocurrency is $135 Billion and Bitcoin alone has the market cap of $70 Billion.

Bitcoin is currently trading above the 100 MA (moving average) for the first time after May 2018. Bitcoin is facing a psychological resistance at $4000 and tried to break it a couple of times and rejected. 

Ethereum (ETH) hard fork is scheduled for 27 Feb. Ethereum shows good returns over the past month. Ethereum outperformed Bitcoin in recovery. Ethereum gets major updates after the hard fork. The reward per block is reduced from 3 ETH to 2 ETH. The Ethereum blockchain will shift from Proof of Stake (PoS) from Proof of Work (PoW). This will fuel the Ethereum prices. 

EOS the fourth cryptocurrency according to the market cap shows massive growth in the past two weeks. EOS increased from $2.40 to $3.95. EOS outperformed the top 10 cryptocurrencies in the past two weeks. 

The cryptocurrency market is showing some strength after the massive drop in November 2018. Cryptocurrency traders and hodlers believe that the longest bear market in Bitcoin history is over.

The Change is Coming and We are Part of It.