The cryptocurrency market experienced a consistent fall in valuation over the weekend. CoinMarketCap reports that Bitcoin hit a new low for 2019 of $3,552. Most other cryptocurrencies experienced major losses during the weekend.
The crypto market has managed to regain some short term losses in a sharp short term rally recovery that commenced at 7:30 am this morning and leveled off at 8:30. The majority of the increase in valuation during this time were gained during the first 20 minutes of the rally.
During the rally Bitcoin jumped from $3,592 to a high of $3,713 before leveling off at $3,700 at time of writing. That jump in Bitcoin’s value records a gain of 3% in a short time. Other major cryptocurrencies including XRP, BCH, XLM all recorded gains between 3% – 6%. Ethereum experienced a 7% rally and TRON leads the pack with a gain of over 13% om 24 hours.
The rally added nearly $8 billion back in to the market bringing it above the $120 billion mark to $123.5 billion at time of writing.
Some Analysts such as the Twitter personality, The Crypto Dog, saw this rally coming due to certain market indicators.
— The Crypto Dog📈 (@TheCryptoDog) January 14, 2019
The Crypto Dog also advises traders to keep their eye on TRX even if their not trading it, as the death of TRX could indicate another market crash.
The Google ads Twitter page recently announced that the keyword ‘Ethereum’ has recently been blacklisted. The official Google page states that the blacklisting is due to targeting features such as crypto exchanges. According to auditing startup Decenter, the “ethereum development services” and “ethereum security audits” keywords are no longer available for their use.