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Cryptocurrencies: A Less Volatile Start to 2019
by Howard Haykin
The marketplace for cryptocurrencies is still too volatile for most investors. So far in 2019, for example, Ethereum - the 2nd largest cryptocurrency (as measured by market capitalization) – has had a 38% swing between its high and low prices. Yet, that figure is relatively subtle relative to the comparable period in 2018, when Ethereum had a 59% swing in price. Here’s a snapshot of the marketplace.
CRYPTO MARKET OVERVIEW. As of Thursday, March 14th, the three largest cryptocurrencies – Bitcoin, Ethereum, Ripple – had a combined market capitalization of $96 billion, or 71% of the entire $135 billion marketplace for all (2,106) cryptocurrencies.
- BITCOIN (BTC) - #1, dominates (51%) with a market cap of $69 billion.
- ETHEREUM (ETH) - currently #2, with a market cap of $14 billion.
- RIPPLE (XRP) - currently #3, with a market cap of $13 billion.
2019 SWINGS IN PRICE. For the year-to-date (Jan. 1 - Mar. 14), here’s how the big 3 cryptocurrencies performed:
- BITCOIN: had an $819.82 (or 20%) swing in price between its high ($4,210.64 on Feb. 24) and its low ($3,391.02 on Feb. 8).
- ETHEREUM: had a $62.62 (or 38%) swing in price between its high ($165.55 on Feb. 24) and its low ($102.93 on Feb. 6).
- RIPPLE: had a $0.096 (or 25%) swing in price between its high ($0.382 on Jan. 10) and low ($0.286 on Jan. 29).
2018 SWINGS IN PRICE. For the comparable period in 2018, here’s how the big 3 cryptocurrencies performed:
- BITCOIN: had an $11,413 (or 65%) swing in price between its high ($17,527 on Jan. 6) and its low ($6,114 on Feb. 6).
- ETHEREUM: had an $831 (or 59%) swing in price between its high ($1,412 on Jan. 13) and its low ($581 on Feb. 6).
- RIPPLE: had a $3.224 (or 84%) swing in price between its high ($3.82 on Jan. 4) and low ($0.596 on Feb. 6).
2019 SWINGS IN PRICE FOR FINANCIALISH STOCKS. For the year-to-date (Jan.1 - Mar. 14), here’s how the 3 biggest stocks in the Financialish 30 Index performed:
- BERKSHIRE HATHAWAY (BRK-A): had a $27,310 (or 9%) swing in price between its high ($313,960 on Feb. 1) and its low ($286,650 on Jan. 3).
- JPMORGAN CHASE (JPM): had an $11.33 (or 11%) swing in price between its high ($107.27 on Feb. 25) and its low ($95.94 on Jan. 2).
- BANK OF AMERICA (BAC): had a $5.71 (or 19%) swing in price between its high ($29.72 on Jan. 25) and low ($24.01 on Jan. 2).
CRYPTOCURRENCY 2019 YTD PRICE CHARTS.
