Cryptos Price Run: Winners and Losers of Six Last Months

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After a bumpy first quarter for the crypto world, investors have been following to notice any price changes. The movements have been so rife. First, finishing the first quarter at some of the lowest levels ever, around $4000, Bitcoin seemed headed to a burst.

Prompted by the spreading coronavirus, it seemed like the economy was headed towards a downward spiral. While considered "digital gold," by then, it seemed like Bitcoin is, after all, not immune to the happenings of the traditional economy.

Going down at a time when the stock exchanges were also posting losses seemed like the unforeseen reality.

So many people have never been so wrong about a product before.

Headed to the end of the first half of the year, and Bitcoin is back to trading at some of the known high prices. At the time of writing this piece, the coin is trading at $9,537.

May had been a perfect month for the currency. It went past the ever-pressing resistance level of $10000, prompting some analysts to project it reaching $15000.  

The Rise of Smaller Coins

As the leading coin, anything that happens to Bitcoin tends to affect the other lower currencies. The increase in Bitcoin value has trickled down to improve the other coins.

The second quarter has seen the rise of other smaller cryptocurrencies. Coins like Ti-value, Fork monero classic, and Streamr (DATA) and Datum (DAT) have gained massive market traction over the past six months.

Even though the crypto has been good for the past six months, there have also been losers in that period. Here is the list of winners and losers in the second quarter of this crypto-financial year;

Winners

Bitcoin

No other coin seems to be ready to take on Bitcoin; they don't even come close.  The year has been quite eventful for Bitcoin. 

Even though at some point it lost so much to trade at $3600, it has gained massively to reach the elusive $10k mark. It is still the best performer in the first half of 2020.

Ethereum

Ethereum has mainly been the first option to look at apart from Bitcoin. The first half of the year has been so eventful with instances of its transaction costs beating those of Bitcoin.

Currently, the price of Ethereum stands at $232 and has undergone massive spikes throughout the year. It, at one point, peaked at $281 in February.

OKB

As mentioned earlier, 2020 has seen a rise in some of the less established coins, OKB being one of them. By the end of the first quarter, the currency had gained by 65%. The growth of the OKB is attributed to its acquisition by OKex.

The new owner burned all the unissued OKB leading to a deflation age.

Others

Here are some of the other top gainers this year; Hedera Hashgraph (199.92%), ICON (109%), Lisk (73.45%), and Bitcoin SV.  Bitfinex Leo, Bitcoin Gold, and Dash have also had an incredible run in the first half of the year. 

Losers

While the first half of the year has regained more in the new stages, some coins have lost massively. Some of the notable losers are Cosmos (50%), Syntheitix (45%), and Vechain Thor (42%). The others include Qtum, Decred, Ravencoin, and NEO.

Summary

Barely in the middle of the year, the cryptocurrency industry already has a tightening race. After a Covid-19 fueled scare, the market has regained to see incredible gains over the past few months. Some coins have also lost in that same period.

Otherwise, the changes are still rife as traders change investment tactics over the uncertain economy.

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