The cryptocurrency world did not skip a beat in the first week of 2018.
Bitcoin: Relative Stability Continues (+16%)
No major news stories or events meant a relatively stable week for the staple cryptocurrency. The cyclical nature of investors shifting between altcoins and Bitcoin probably contributed to this stable week, with options such as TRON (+78%) surging. Bitcoin, as well as the other major coins in this article should continue to be buoyed by Coinbase’s reluctance to add coins. This stance will continue to ensure that one of the most trusted ways of entering the cryptocurrency world is through a purchase of BTC, ETH, or LTC.
Ethereum: Breakout Week (+46%)
While Bitcoin traded back and forth, Ethereum pieced together quite the significant bull run over the week. It is possible that breaking through the $1000 USD barrier could lead to this bull run being extended, after flirting with the previous resistance yesterday. The aforementioned TRON token and it’s connection to Alibaba founder Jack Ma coupled with increasing rumours of China’s imminent lift of its ICO ban could lead to a massive year for Ethereum. If the number of ICO’s picks up to anywhere near their original counts, the demand for Ethereum will continue to be naturally increased. Keep an eye out for news relating to this potentially significant change in regulations.
On the bearish side of ICO’s it is important to heed Vitalik Burterin’s advice and perform your due diligence when it comes to investing in ICO’s. The creator of Ethereum, ever critical of the immature side of the cryptocurrency world tweeted a Reddit post warning people away from a scam ICO.
Litecoin: Settling Back In (+17%)
Litecoin seems to have settled into a new price range of ~$250 USD, for the forseeable future. While a sharp move in any direction could be caused by almost any headline in the cryptocurrency world, the coins recent 250%+ surge in December may leave investors weary of jumping in at this time, without some signal of further adoption of the token.
Not interested in the Big Three? Check out our Weekly Watchlist, highlighting some options you may not have heard of.
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