Ripple delivered three -digit returns in the previous trading year. Bitcoin consolidates around $ 30,000.

• ripple delivered three -digit returns
in the previous trading year
• Bitcoin consolidates around $ 30,000
• Ethereum has increased by more than 50 % since the beginning of the year

During the summer months, trade slows down because the financial markets usually enter consolidation. The cryptocurrency market is no different-take a look at Bitcoin and its inability to keep over $ 30,000, says everything.

Is this why this is the best time to look back and see which cryptocurrencies have exceeded the US dollar in the first seven months of the year?

The following table shows some scattered services. While some cryptocurrencies recovered, others remained unchanged. In other words: From this perspective, the cryptom market does not differ from the stock or currency market, since it is just as important to find the right asset in which you can invest.

Bitcoin-chart of tradingView

ripple is a leader

ripple is the only great cryptocurrency that has achieved three -digit returns since the beginning of the year. In fact, the majority of the profits from the reaction to a recent judgment resulted in which Ripple was a security if it is sold to institutional investors.

The good news, however, is that the increase was not traced back. Instead, the market consolidated at these higher levels, which shows us that this is more than just a short squeeze.

The YTD Performance of Bitcoin exceeds 80 %

Most of the time in 2023, Bitcoin delivered the biggest return. Recreation occurred right at the beginning of the year, but the recovery recently came to a standstill.

Bitcoin is difficult to break and hold the $ 30,000 mark. His performance this year is closely related to the performance of the US dollar.

Although the Fed has increased the key interest rate several times this year, the EUR/USD course is noted near its annual high. Therefore, the weakness of the dollar was also shown in other markets, including cryptocurrencies.

Ethereum provided his investors a return of more than 50 %

With a return of more than 50 %,

Ethereum has been in third place since the beginning of the year. After an initial rally with Bitcoin, there was another part of his profits in the course of consolidation.