The digital currency market maintained stability in the range of $ 135 billion to $ 137 billion, and Tron and New recorded gains of 7 and 10 percent respectively as the top two major digital assets of the day.
It also showed a reasonable trading volume of about $ 5 billion over the past two weeks, but it has struggled to show signs of a significant rise above the major resistance levels.
Is the market on a date with a dull year in 2019?
In the last few weeks, the value of digital currencies such as etherium and tron (TRX) has risen due to scheduled product launches.
The Hardenfork process, known as Operation Constantinople, is scheduled to take place from 14 to 18 January. In anticipation of this process, the price of the etherium has almost doubled since mid-December last year.
Tron also showed a strong increase in its price the following day for the introduction of the initial BitTorrent currency, a local digital currency of the widely used BitTorrent protocol that was launched on top of the BlockinTron network.
Many analysts expect the digital currency market to undergo another major correction before entering into a consolidation period extending over several months and the accumulation phase.
Until then, the market is likely to remain stable in a low price range, unable to trigger large price movements.
Numerous digital currency situations such as etherium and tron can show high movements that lead to expected product updates and protocol updates, but most digital assets will likely show stability due to low volume and overall decline in trading activity in the market.
Not everyone expects a boring year for the digital currency market
In an article on the blog, Travis Sheer, vice president of Digital Currency Group, a major venture capital firm that has invested in some of the world’s largest trading companies such as the Coinbase, said it expected 2019 to be volatile and full of surprises.
The second half of 2019 can see the FX market, especially if the digital assets recover during the first two quarters. However, on the basis of the short-term price trend of many digital currencies since November, the likelihood of a radical reversal is still low.