Crypto markets witnessed a sizable pullback on Sunday, as bitcoin lurched back below $3,600 and major altcoins registered slight to moderate declines. Although 2019 is shaping up to be a pivotal year for cryptocurrencies, the path to recovery is riddled with obstacles, chief among them being damaged investor sentiment and a myriad of regulatory issues.
Market Update
With the exception of Tron, all major cryptocurrencies have registered declines in the past 24 hours. Bitcoin, the largest digital asset by market cap and trading volume, swung back below $3,600 through the early part of Sunday. The bitcoin price reached a session low of $3,567.25, according to CoinMarketCap. At last check, it was down 0.3% at $3,595.25.
XRP fell 1.8% to $0.3111, where it was approaching several bearish technical confluences. This comes despite Ripple announcing it had sold $535.6 million worth of XRP last year.
Ethereum declined 1.9% to $114.89. Bitcoin cash was nursing a loss of 2.8% to trade at $123.97. The value of EOS fell 2.1% to $2.40.
After peaking north of $0.03, Tron was back trading around $0.0290, having gained 1.2%. TRX has gained a whopping 21.4% over the past seven days. Read more: TRX Price Explodes While Tron’s Justin Sun Implodes on CNBC; BTT Token Will Be ‘Hybrid’.
Outside the top ten, Binance…