Has crypto Spring finally come? March crypto review with Spatium.
31st March marked the end of the first quarter of 2019. Summarizing the monthly performances of the cryptocurrencies Spatium team observes the stability of the crypto market, after a rough decline in the previous year. This review includes analyses of the major progress of the month, assets traded and a few other news.
Are the Bulls leading the way now?
The investors’ confidence is gradually restored after three months of steady growth.
BTC has recently hit above 4,500 which is a significant turning point for the market. It seems that the bear market has come to an end. The daily trading volume is growing because altcoins are also solidly in the green for the whole month. In fact, the figures resemble the situation of November 2018. That shows some bullish tendencies and may mean another spin of interest to the whole crypto market.
Coin Charts
The total market capitalization of all cryptocurrencies exceeded $144 billion on March 31, which is 10,5% more than $134 billion, the figure it reported a month ago.
All cryptocurrencies show a positive trend except for Ripple. For the cryptocurrency world, March was a good month. Let’s now look how top 3 major cryptos have behaved in recent month.
Bitcoin (BTC) spent this month at the $4,000 level started from the price of $3,848 and finished at $4,098. It rose by less than 1% over the past month. So it’s better to remain neutral and wait until the market situation changes. By the way, crypto trader and investor Josh Rager of TokenBacon tweeted on March 31, that the next BTC cycle should peak at $150,000 by 2023.
Bitcoin monthly price chart
Ethereum (ETH) slightly grew from $136.01 to $142, while its market cap is over $15.8 billion at press time. The highest price of the second top cryptocurrency over the month was observed on March 30, adding up to $144.92. The monthly low stood at $126.21.
Ethereum monthly price chart
Ripple (XRP) is currently the world’s third largest cryptocurrency, trading around $0.33. Its monthly chart demonstrates that the current price of XRP is less than 0.5% lower than its started this month. Just for the record, SBI Bank in Japan (market cap $6B) is an official partner of Ripple. Their CEO Mr Yoshitaka Kitao, aims to promote XRP for the mass crypto adoption in Japan.
Ripple monthly price chart
The expansion of crypto services
In other crypto industry news, the collaboration of Western Union with Thunes will implement mobile wallets globally. The company underlines the primary aim of this partnership is to support the underbanked people to transfer funds directly to the recipient.
Meanwhile, the Chinese e-commerce giant Alibaba signed a strategic cooperation agreement with Aerospace Information Co. to ensure blockchain, cloud computing services, smart industries for Alibaba.
One should also note that recent SwissBanking studies report the growth of the fintech sector in Switzerland, including crypto-related businesses, while traditional banking is in decline.
Market is not so volatile, so you might hold your main amount of assets in the secure place for the next run. Our software wallet will keep your coins safe. Stay tuned and download the Spatium software wallet from Google Play, Microsoft Store, or the App Store to see what it means to crypto securely.
We’ll continue to monitor the market and keep you updated. Follow our Telegram, Facebook, and Twitter to receive the most interesting and latest news about cryptocurrencies, prices, and trends.
