January marked a month of below average trading prices for Bitcoin, and the majority of Altcoins, after the soaring heights achieved in December. Some of the biggest flops came from some of the top coins, including Ripple (XRP), which climbed to a whopping $3 per coin on some exchanges before dropping back down to $1.20, proving that the markets are still very risky.
Bitcoin mostly fluctuated between $10,000 USD and $13,500 USD range, being mostly bearish in the month of January as a flurry of new coins took to the market.
With the decreased price of Ripple, Ethereum has moved into the 2nd spot as the 2nd highest market-cap coin, as it made slight gains in January, pushing it right behind Bitcoin.
It has shown a bullish price compared to BTC, as the push for Ethereum demand has increased due to the increasing number of Blockchain services provided by the coin.
The ETH price actually doubled in value from .05 to .1 BTC from the start of January to the end of January as Bitcoin receded.
If this trend continues, then it may be some time before Ethereum becomes the top coin.
Ethereum also continues to be a top choice for ICO listings, which can ultimately drive up the price.
Litecoin (LTC) remained relatively stable throughout January without too much fluctuation after bouncing from it’s high in December.