While bitcoin has demonstrated once again that he is the number one cryptocurrency, among all altcoins have been a few that, too, in General bad, I experienced this crypto winter 2018. Here we present you some of the best and worst cryptocurrency of the first quarter of 2018.
By the end of 2017, the price of bitcoin has reached a record – 20.089 USD. The total capitalization of cryptocurrency market has reached 820 billion dollars.
At the time, even very dubious crypto-currencies, such as the now defunct Bitconnect, has grown considerably in price. But experienced traders already knew that the global market will have a correction.
The recent rise in prices, during which she managed to overcome the barrier of 9000 U.S. dollars, has led many analysts to think that the end of correction is near.
However, according to athcoinindex, the current price of bitcoin is still 58% below its record level.
Moreover, as the price of bitcoin dropped sharply, a big part of altcoins falling even faster. However, looking at the top 50 cryptocurrencies by market capitalization, it is possible to select ten of the best altcoins that have shown good results considering the overall negative trend:
- DigixDAO (-41.19%)
- Bytom (-51.61%)
- Litecoin (-57.72%)
- Aeternity (-58.06)
- Monero (-58.06%)
- Binance Coin (-60.72%)
- Decred (-61.22%)
- Ethereum Classic (-61.40%)
- OmiseGo (-62.18%)
- Ethereum (-63.92%)
It is noteworthy that only DigixDAO, Bytom and Litecoin have shown better results than bitcoin. The relative sustainability of these projects can be explained by the presence of more solid foundations in comparison with competing cryptocurrencies.
For example, the best performance shows DigixDAO, which is also called “gold in Ethereum”.
Meanwhile, others, such as Monero, Litecoin, and Ethereum, are constant favorites in the cryptocurrency space with strong online communities and support, these cryptocurrencies are much more long-term investors than others. The Creator of Litecoin Charlie Lee said in his Twitter that:
Of the top 20 coins Litecoin is 2nd from the bottom in terms of incidence relative to ATH. Litecoin really good work out in this bear market!
10 worst cryptocurrency
10 cryptocurrency that showed the worst performance include:
- Zcash for (-96.07%)
- Bitcoin Gold (-89%)
- Ardor (-88.95%)
- Siacoin (-88.82%)
- Verge (-88.36%)
- TRON (-88.14%)
- NEM (-86.74)
- Cardano (-85.73%)
- Bytecoin (-85.65%)
- Hshare (-85.10)
Interestingly, zcash for, cryptocurrency focused on anonymity and privacy, has fallen the most (relative to its maximum), in contrast to its nearest competitor – Monero. It seems that investors are not so sure in zcash for, despite the fact that he has his own investment Fund, supported Barry Silvreta, and there is eminent followers, such as Edward Snowden.
At the same time, Bitcoin Gold, which is in second place in terms of incidence, it seems there was no response from investors, who obviously do not believe that the centralization of mining, which is trying to fight this crypto-currency is a serious problem for the bitcoin network.
Most of the other cryptocurrencies that were included in this list are relatively new, such as Cardano (launched in October 2017). They have not yet managed to acquire a serious community.
Finally, others, such as TRON, focused on marketing (new exchange partnership agreement), which is also important, but for long-term investors much more important is the work on the project.
The behavior of the cryptocurrency in a bear market, says a lot about its long-term prospects. In this respect, few can compete with bitcoin, but there are several coins, like Monero, Litecoin and a few others that also deserve the attention of long term investors.