Bitcoin Opens 2020 With Untypical Stability: Tuesday’s Crypto Market Watch

Bitcoin marked the end of 2019 at around $7,150, which is a notable increase of over 90% since January 1st.  Looking at the price on a smaller time frame, BTC has decreased by 1% in the last 24 hours and is currently trading at $7,190.

Just yesterday, the largest cryptocurrency attempted to break the $7,400 resistance but to no avail. Part of the reason could be related to the CME price gap at around $7,300, and as it often happens, it was filled in less than 24 hours.

If BTC is to increase, it has to break the $7,400 resistance line and $7,700 would follow next. However, if bears take charge, the most notable support lies at $7,000, followed by $6,800 and $6,500.

BTCUSD. Bitstamp 1h. Source: TradingView
BTCUSD. Bitstamp 1h. Source: TradingView

Most altcoins are recording similar price movements of around 1% up or down within the last 24 hours, keeping Bitcoin’s dominance over the entire market at above 68%. Ethereum is at $131; Ripple ranges for several days at around $0,193, and Binance Coin – $13.78. Bitcoin SV is close to $100, recording the most substantial increase within all cryptocurrencies in the top 10.

Total Market Capitalization: $192 Billion| Bitcoin Market Capitalization $131 Billion | Bitcoin Dominance 68.2%

Major Crypto Headlines

YouTube Claims The Crypto-Ban Was an Error: Affected Videos Getting Restored. After several prominent cryptocurrency YouTubers had their videos blocks and accounts removed, the saga appears to have ended now. The large video sharing platform indicated that all events were a result of an error and the channels were restored.

Ethereum’s Newest Hardfork, Muir Glacier, To Take Place On January 1st. Istanbul, the latest hard fork from Ethereum, supposedly left an unaddressed issue regarding the mining difficulty on the network. The company scheduled an emergency one coming up at block 9,200,000, which should be today – January 1st.

Bitcoin P2P Trading Volume at ATH in Venezuela And Argentina. The interest towards Bitcoin in Latin America seems to be on the rise, as the trading volumes in Venezuela and Argentina recently recorded a new all-time high.

Significant Daily Gainers and Losers

Swipe (18.39%)

SXP is the most considerable gainer among the top 100 cryptocurrencies as of the last 24 hours. It rises with over 18% against the dollar to $1,31 and with almost 20% against Bitcoin to 18138 SAT. The company recently updated its main product, serving as a digital wallet application, enabling its users to buy, sell, or pay with their cryptocurrencies.

iExec RLC (17.15%)

RLC follows tightly with a 17% increase against USD. Its trading price at the moment of this writing is $0.43 and close to 6000 SAT, marking an 18.5% surge when compared to Bitcoin. The company recently took part in a trading contest with prizes distributed within its Twitter followers.

LUNA (-7.86%)

LUNA marks an almost 8% decrease in the last 24 hours to $0.24. Moreover, it drops to 3332 SAT, meaning a 7% plunge against the largest cryptocurrency.
Interestingly enough, LUNA was recently listed on the large crypto exchange, Bithumb, which spiked the price a few days ago, and the current movement could be a retracement.

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