Crypto Price Movements of 2019 to Consider for Future Investments
There have been some interesting crypto price movements in 2019. Let’s explore what cryptos had the most impressive shifts in price, and consider them for future investments.
Even if 2019 had a slow start, most cryptocurrencies saw a big increase in value in the first six months. But then in Q3 of 2019, the hostile price movement impacted most large market cap cryptos, and this momentum carried into Q4.
Only Tezos (XTZ), NEO, and Bitcoin SV (BSV) saw some recovery in their prices, while all other assets slowed in their progress, showing signs of stability in the market.
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Throughout 2019, four of the ten biggest cryptos maintained their price gains from Q1 to Q2 of 2019. Bitcoin saw an increase of 87%, surpassed only in growth by BNB, which had an increase of 130% during 2019.
Litecoin (LTC) and Bitcoin Cash (BCH) gained in 2019 +30% and +25%, respectively. The rest of the other large cryptos had negative price movements in 2019. Lumen (XLM), for example, sustained losses of over half its value at the start of the year.
But there where also some small capped coins, such as Luna Coin (LUNA) that experienced significant gains of 48,900%. Dogecoin (DOGE) had the least movements in price, as it started 2020 at the same price as at the beginning of 2019.
Top Three Cryptos: Price Performance in 2019
Bitcoin (BTC)
Price change: +87%
Biggest price movement: +282% over six months
The top crypto on the market continued to rule in terms of price gains in 2019, with an increase of 282% in value in just 6 months. The most significant 24-hour loss represented a 10% drop, which occurred on July 11. The drop only lasted several minutes, and it was correlated to happen after United States regulators disparaged Facebook’s Libra.
Bitcoin went from $3,400 to almost $13,000 in the first half of the year, a growth it has not experienced since January 2018. The momentum didn’t continue into the second half of the year, as BTC went through regular bearish moments.
Ethereum (ETH)
Price change: -12%
Biggest price movement: +139% over six months
The first half of the year started promising for ETH, with an increase of 139%. But in the second half of 2019, it experiences a drop of 36%, which stretched across 10 days in July.
In 2019 ETH tripled in value in the first half of the year. But on July 8, the token went through a reverse price movement, losing 36% of its value in just 10 days, and taking the rest of the altcoins with it in its downward movement.
XRP
Price change: -47%
Biggest price movement: -30% in November
The third crypto by market cap disappointed this year, as it lost 47% over a period of one year and dropped 30% in November. While crashing, XRP reached a record in terms of transactions in early December, transferring around $1 billion, which sparked speculations that the company behind the crypto was crashing the price on purpose.
How Did the Rest of the Market Do?
Luna Coin (LUNA)
Price change: +25,000%
Biggest price movement: +48,900% over a day
After eight months of inactivity in the charts, LUNA abruptly rose by 48,900% on Aug. 19, which is an unprecedented record for daily growth. But the next day, the coin fell back to its previous values.
Nearing 2020, Luna managed in recovering its price, and it is now considered one of the most profitable assets, recording a price change increase of 25,000%. The coin started the year at $0.001 and reached $0.25.
Binance Coin (BNB)
Price change: +122%
Biggest price movement: +548% over six months
Binance’s BNB gained 548% in value during the first half of the year and saw an overall growth of 122% in 2019.
This growth has been attributed to the launch of the Binance DEX, which hosted a number of successful IEOs, which furthered the use of BNB on the platform.
The economic model used by BNB allows exchange users to reduce their trading fees, which is also thought to have contributed to its growth.
BitTorrent (BTT)
Price change: -99%
Biggest price movement: -97% over a day
The hyper-advertised token of TRON, BTT, had an eightfold increase last year but set a new record in May 2019 for losing 97% of its value in one day. On May 1, BTT went from $0.02 to $0.0006 within 24 hours and continues to steadily decline to this day.
In spite of its losses, the coin is still trading at double its value compared to when it was offered in the crowdsale, which was $0.00012.
Bitcoin Gold (BTG)
Price change: -59%
Biggest price movement: -82% over six months
BTG went down 82% in the second half of 2019, from $31 on June 25 to almost $5. The coin lost a total of 60% for the year. It is speculated that the drop was in part because of its delisting from Bittrex and the restriction on U.S. citizens to not hold the asset.
Stellar Lumens (XLM)
Price change: -63%
Biggest price movement: -63% over a year
Stellar Lumens lost 63% of its value throughout the year. The price went from $0.08 to trading at $0.044 per coin in November.
Other notable mentions:
Bitcoiin (B2G)
- Price change: -99%
- Biggest price movement: +3,500% over a week
Seele (SEELE)
- Price change: +2,640%
- Biggest price movement: +2,640% over a year
Ethereum Meta (ETHM)
- Price change: -98%
- Biggest price movement: +1,100% over 2 days
Matic (MATIC)
- Price change: +285%
- Biggest price movement: +1,233% over a month
Chainlink (LINK)
- Price change: +459%
- Biggest price movement: +1,186% over six months
Celer (CELR)
- Price change: -85%
- Biggest price movement: +214% over two weeks
Observations
In 2019, 20 of the biggest capped cryptos (excluding stablecoins) had correlations between all pairs, which were always positive.
“Correlation statistically measures the strength of a linear relationship between two relative movements of two variables and ranges from -1 to +1.”
According to Binance’s annual report, they noticed that:
“Besides Ethereum (ETH), Bitcoin (BTC) was strongest correlated with Bitcoin Cash (BCH) and Monero (XMR), two other PoW cryptoassets.
Programmable blockchains (e.g., NEO, Ethereum, EOS) often exhibited higher correlations with each other than with non-programmable assets. This trend continued in the same way as in previous quarters.”
Some huge spikes in prices in certain low-cap coins are suspected of having been caused by pump and dump schemes, so always be careful in what new coin you invest.
Conclusion
We hope that our article on 2019’s most notable crypto price movements will be of help in establishing trading patterns in 2020, which will be useful in your investing endeavors.
Featured image: newsbtc.com
