When looking at monthly market performance, 2018 was the bloodiest year in the history of the cryptocurrency markets. Of the seven largest cryptocurrencies by market cap, only three were able to produce more than two green monthly candles during 2018.
In 2018, bitcoin core (BTC) saw the most red monthly candles in its history, posting three green and nine red monthly candles throughout the year. BTC gained 2% during the month of February, 33% April, and 21% July. The price of BTC fell by roughly 73% during 2018, opening the year trading for $13,900 and closing 2018 at roughly $3,700.
ETH also posted its poorest annual performance during 2018 with three green and nine red monthly candles. The price of ETH gained 53% in January, nearly 75% in April, and 19% in December of last year. Overall, ETH shed nearly 82% of its value during 2018, falling from roughly $735 to start 2019 trading for $135.
XLM Posts Strongest Monthly Performance of Top Markets
Stellar (XLM) was the strongest performing cryptocurrency of 2018 when counting green candles, posting four green and eight red candles during last year. XLM started 2018 with a gain of 53% in January, before gaining 103% in April, 44% during July, and 17% in September.
Despite performing better than many other crypto assets during 2018, XLM posted its worst performing year on record. XLM lost 67% during last year, opening 2018 at $0.35 and closing the year below $0.12.
BCH posted green months during April and July of 2018, during which it gained 97% and less than 4% respectively. Overall, BCH shed roughly 94% of its value last year, trading for nearly $2,400 at the start of January and closing the year at roughly $150.
EOS saw bullish action during January and April of last year, during which the market posted gains of 59% and 195% respectively. EOS dropped by 78% during 2018, sliding from $12.17 to close the year at $2.62.
LTC Produces Second-Most Bearish Year on Record
Do you think the worst of the bear trend has already passed? Share your thoughts in the comments section below!
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