The first quarter of the year was quite gloomy for crypto assets including Bitcoin which continued plunging down the chart, recording its lowest value since 1 year period.
However the second quarter of 2019 came along with market turnaround. Since the start of April (beginning of Q2) most Crypto assets began to overpower the bear for a shift towards the bull.
The Q2 2019 was such a meritorious period for cryptocurrencies and their investors. Bitcoin and altcoin saw trend reversal geared by the bulls.
Bitcoin drifted long on the rising wedge, maintaining the bullish tempo with slight hiccups, hence making experts believe that the much awaited exponential bullish rally has arrived, and Bitcoin would surpass its all-time price for a record value around $100,000.
The second quarter of the year has ended and the crypto market remains the most impressive sectors around the world in 2019. While majority of the market glories goes to Bitcoin on most occasions, there are some altcoins that shoulder the growth of the investment sector.
According to reports, Litecoin presented the second highest return in Q2 2019 after Chainlink with a whooping sum of 108% added value within the stated period.
Chainlink, on the other hand, delivered 630% returns while Binance Coin which took the third place offering 84% growth.
In the year 2019 in total, Litecoin presented the third highest return amongst crypto assets in the market with 316% while the likes of Chainlink and Binance Coin took first and second place with 1200% and 451% respectively.
This is coming ahead of Litecoin’s halving which has been hyped to skyrocket the value of the silver crypto asset.
IOTA, XRP, XLM Sink to Bottom
Contrarily, IOTA, XRP and XLM slumped, staying at the bottom with the lowest return in Q2 2019. According to the report, Stellar (XLM) registered as the worst performing crypto asset with -4% in Q2 2019 and -5% return in the entire 2019.
With 25% return, IOTA presented the second lowest yield in the second quarter of the year, followed by XRP which grew by 27% within the same period.
In the entire 2019, XRP and IOTA only managed to add 13% to their last year closing value while Bitcoin and Ethereum added 198% and 117% respectively. Bitcoin has crossed $10,000 valued at the time of filing this report, making its return approximately 200%.
It was affirmed that the slightly poor performance displayed by Ethereum is due to the emergence of IEO which replaced ICO.
Similarly, Stellar (XLM)’s poor performance was partly linked to Fabook’s Libra news with expectation that the former will become an underdog to the former.
1/. A recap thread to wrap up a lively Q2
– Bitcoin up ~200% YtD and back > $10,000
– Ether has been lagging as IEOs are the new ICOs – supporting BNB
– Stellar is worst performing – started to underperform before the Facebook news pic.twitter.com/yEHbBUx5IK
— skew (@skew_markets) June 30, 2019
Author: Khalid Lawal