The first week of 2018 witnessed cryptocurrencies asserting their presence with staggering gains, attracting even risk-averse investors to this dynamic market.
The 2017 Legacy and 2018 Momentum
Bitcoin, the flagship cryptocurrency with a jaw-dropping 1,900% surge in 2017, became the year's most dazzling financial asset. However, as its price approached $20,000 in December, attention shifted to undervalued altcoins. Bitcoin's extreme overbought conditions triggered capital rotation into alternative cryptocurrencies—a trend accelerating in early 2018.
Top Performers of the New Year
- Ripple (XRP):
Despite its 66% YTD gain and position as the second-largest cryptocurrency by market cap, XRP only ranks sixth in 2018 performance. TRON (TRX):
The standout performer with:- 270%+ YTD growth
- 100%+ 24-hour surge
- $14.3B market capitalization (CoinMarketCap data)
Status (SNT):
This Ethereum-based token achieved:- 160%+ YTD increase
- 700% weekly growth
Stellar (XLM):
After leading earlier sessions, it:- Dropped to third place
- Lost its #7 market cap position to TRON
Ethereum (ETH):
Made history by:- Breaking $1,000 for the first time
- Reaching $1,075 ATH
- Securing 10th place with 28% YTD growth
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Bitcoin's Subdued Performance
- Mere 2% YTD gain (#18 ranking)
- Consolidating after December's historic crash
- Current trading range: $14,900–$15,500
Technical Outlook (BTC/USD)
Key Levels:
- Resistance: $15,180 (immediate), $15,500 (critical)
- Support: $14,900 (20/60 MA confluence)
Price Action:
- Repeated tests of $15,180 suggest bullish potential
- Hammer candles indicate buying interest
- MA convergence hints at continued upside
Latest Quote: $15,510.43 (17:00 UTC, Yihui Exchange)
FAQ: Early 2018 Crypto Trends
Q: Why are altcoins outperforming Bitcoin?
A: Market cycles typically see capital rotate from overbought assets (BTC) to undervalued alternatives.
Q: Is TRON's growth sustainable?
A: While speculative, its blockchain adoption strategies contribute to momentum.
Q: How does Ethereum's milestone matter?
A: ETH crossing $1,000 validates smart contract platforms' utility beyond currency use cases.
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Q: Should investors diversify beyond Bitcoin?
A: Portfolio diversification helps mitigate single-asset volatility risks.
Q: What technical signs suggest Bitcoin's rebound?
A: Higher lows, MA support, and reduced sell pressure indicate accumulation.
Q: How does Ripple's institutional focus affect its price?
A: Banking partnerships create steady demand but may limit retail-driven spikes.