How Did 2019 Begin for the Crypto Market?
2018 wasn’t so bright for the crypto market, but we entered 2019 with our chins up and hopes high. How is the start of 2019 looking for the Crypto-verse? Can we say that our optimism is justified?
A reasonable start
2019 began with kind of a mixed trend.
Why mixed? Whether you’ve been following the trends or not, all major cryptos mostly saw January in red one way or another. But the good thing is that digital currencies are still gaining on popularity no matter what, Bitcoin being in the spotlight, although the hype of 2017-2018 has finally subsided. The public and the media are actively monitoring all the crypto developments and updates.
The best performing crypto
Yesterday, we published this week’s poll (take your vote!). What do you think is the best crypto at the moment? A lot of people answered Bitcoin, but is it really?
Tron (TRX) can be considered the best performing cryptocurrency among the largest coins by market cap. In its weekly report, Tron said that it has over “150 DApps and more than 300 smart contracts”.
The TRX/USD pair is showing strength as the bulls are attempting to sustain above the overhead resistance at $0.02815521. As TRX has been in this range since mid-August 2018, a breakout may result in a new uptrend!
The regulatory framework surprises
All things considered, the regulatory side is blooming. It is now expanding, continuing to take shape.
The Dutch Government made suggestions to stop any anonymous trading of cryptos in the country. The proposal comes from the following financial regulators: the Netherlands Authority for Financial Markets (AFM) and the central bank, De Nederlandsche Bank (DNB). The recently proposed law will see all digital exchanges applying for licenses to operate.
As reported, the London Stock Exchange (LSE) is also currently considering a take on the crypto market, to the surprise of many. LSE has avoided the crypto space for a long time, but everything will change now.
The year started out well, leaving us anxious and excited for the next month. Take a deep breath and let’s see what February holds!
The CoinMetro Team