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Bitcoin Maintains Its Stellar Start in December, Stays Above $4,150

After having its worst month in seven years, Bitcoin has kicked off December with resilience and resolve. The currency began the month trading just below $4,000 but it quickly shot up to claim the level and hasn’t looked back since. At press time, Bitcoin was trading at $4,150. The currency dropped from its monthly high of $4,301, but it has shown resilience to trade above the very crucial $4,000 support level.

The other cryptos also saw a slight drop, with Bitcoin Cash, Bitcoin SV and Cardano being the only top ten cryptos not on the red. Despite seeing a 3.4 percent drop, Stellar has maintained its place as the fourth most valuable crypto after snatching it from Bitcoin Cash.

The Month of Good Fortunes?

Bitcoin welcomed the last month of a very tumultuous 2018 with a surge back to the $4,000 level. November ended with Bitcoin at $3,950, but it quickly recaptured the $4,000 level and is yet to look back since. On the first day of the month, the currency went as high as $4,310, but shortly after went back to $4,200 where it has hovered since.

At press time, the currency was trading at $4,151, down 1.24 percent in the past 24 hours. On U.S giant Coinbase, the currency was trading at $4,109, with fellow U.S exchanges Kraken, Gemini and itBit trading at a similar level. Bitfinex, HiBTC, Upbit and Bithumb all traded above $4,200.

The currency’s trading volume is however down by close to $1 billion. This is to be expected as the weekend can be a bit slow and is likely to rebound once the new week kicks off. At press time, the daily trading volume stands at $5.1 billion, down from $6.5 billion registered on Friday.

XRP held on to its spot as the most valuable altcoin at a $14.9 billion market capitalization, despite losing 1.5 percent in the past 24 hours. The currency was trading at $0.36, down from its monthly high of $0.377, with the trading volume being down $180 million to $333 million.

Bitcoin Cash gained 0.9 percent to trade at $174, but even this wasn’t enough to regain the position of the fourth-most valuable crypto which it lost to Stellar. Down 3.4 percent, Stellar was trading at $0.16 but this was enough to hold on to its lead over Bitcoin Cash, albeit the lead being just down to $27 million. Stellar’s market cap stands at $3.078 billion, with Bitcoin Cash closely following at $3.051 billion.

Bitcoin SV, the ninth-largest crypto was the highest gainer in the top 20 cryptos after recovering 5.8 percent in the past 24 hours. The currency has been the only crypto in the top 20 that registered a net gain in November and burst into the top 20 after its price hit north of $120 towards the end of November. At press time, Bitcoin SV was trading at $100, with the price having shot up from as low as $75 registered on December 1.

Ethereum was trading at $116, down 1.6 percent, with EOS and Litecoin being down 2 and 1.7 percent respectively. Having lost its place in the top 10, Monero has continued to lose ground and is currently 12th, trading at $60.




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