The crypto market has made a decent profit

[Paha87]

Over the past 24 hours, the crypto market has added $ 3 billion to its estimate, as bitcoin (BTC) and ether (ETH) have shown relatively good results against the us dollar. Several altcoins, such as Litecoin, TRON and Cardano, showed the highest growth per day in the range of 6 to 12 percent.

Bitcoin should break above $4 ' 500

As the cryptocurrency market avoided a further fall below the $ 130 billion mark, bitcoin protected the $ 3 '800 level and stabilized at around $ 3'850.

According to the technical analyst under the pseudonym "DonAlt", in order for the bitcoin price to lay the Foundation for a strong short-term rally, it will have to break out of the main resistance levels above 4'500 dollars. Analyst writes:

On the monthly chart, the trend is still bearish, you need to break above 4'500 dollars to try to hold a bullish recovery. On the weekly chart: the growth is rejected by the weekly resistance, but finally shows some bullish momentum. I see a need for us to start closing above $ 4 ' 300 before the market becomes bullish.

Currently, despite the relatively stable last few weeks demonstrated by the majority of cryptocurrencies, the market still remains 43% below the November price level.

To trigger a strong short-term rally, the crypto market would have to add more than $ 80 billion to its valuation, which is certainly possible if the bitcoin price could maintain its momentum during the first two quarters of 2019.

Analysts expect that cryptocurrencies will pass the final phase of the annual bear market until the end of the first quarter of this year, as the asset class expects a gradual recovery in the second quarter.

Still in the early stages.

Chris Berniske, partner at Placeholder VC, said the cryptocurrency sector is at a stage where the creators of the solutions dominate the asset class and the main flow of users is not yet involved. Until the asset class becomes more stable, it will experience high volatility and wild price cycles. Bernanke says:

Not mainstream? For most people, cryptocurrency has nothing to do with their lives. If they didn't invest in 2017, they forgot about it. If they did, they probably have a bad impression and want to forget what happened. I'm not saying that to discourage us. Conversely. We remain at the stage of crypto formation, where the main users are developers and investors.

With the advent of custodial solutions and strictly regulated liquidity providers, the cryptocurrency market may see an influx of institutional and highly professional investors in 2019.

However, given the historical trend of asset class growth, some analysts expect cryptocurrencies to undergo a long period of consolidation and demonstrate a high level of stability during 2019, when the bear market will come to an end.

Link - https://altstake.io/news/kriptorynok-poluchil-prilichnuyu-pribyly-no-bitkoin-dolghen-podnyatysya-vyshe-4500