Crypto update: Bitcoin (BTC) and Ripple (XRP) lower again

I think it is fair to say that January was a month to forget for cryptocurrency traders. Here’s why:

At the time of writing the bitcoin (BTC) price is fetching US$10,143.80 according to Coin Market Cap. This is a 1.1% decline since this time yesterday and approximately 28% lower than where it started January at. The world’s largest cryptocurrency has been left with a market capitalisation of US$170 billion.

The ethereum (ETH) price has fared a little better over the last 24 hours and climbed 1.7% to US$1,101. This actually means that it put on a gain of almost 47% during January, a rare bright spot in the industry. Ethereum’s market capitalisation is now US$107 billion.

The same cannot be said for Ripple (XRP) which has been one of the worst performers this year. The XRP price is down almost 5% since this time yesterday at US$1.13. This extends its year-to-date decline to a sizeable 51% and reduces its market capitalisation to US$43.6 billion.

Bitcoin spin-off bitcoin cash (BCH) is down 2% over the last 24 hours and approximately 42% since the start of January. With each token now fetching US$1,480, bitcoin cash has a market capitalisation of just over US$25 billion.

Cardano (ADA), the world’s fifth-largest cryptocurrency, has tumbled almost 7% since this time yesterday to 50.8 U.S. cents. This stretches its 2018 decline to approximately 30% and leaves it with a market capitalisation of US$13.2 billion.

Will February be any better?

That’s the million dollar question. I suspect a lot will depend on what steps governments take to regulate the industry.

We have already seen China make a move on crypto miners and South Korea on anonymous trading. I doubt that is that last of it and believe trader sentiment will remain negative until all is known.

In light of this, I think traders would be better off considering the ample opportunities available to them in the share market instead.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!