Tag: Litecoin

  • Bitcoin goes high – How Much?

    Bitcoin goes high – How Much?

    2 min read

    Bitcoin goes high - How much?

    Bitcoin is the future, Fiat is past! 

    Why not start with these words? Popular VC Tim Draper said it. And we all know how good he is in his predictions. In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted bitcoin to reach $10,000 in three years. This was fulfilled a month earlier. This prediction brought him a great reputation among crypto fans and followers. He also predicts a $100k Bitcoin in 2018, not categorically but anyway.  

    Let assume this growth happens at the same tempo as the 3-year journey to $10k.  But that’s precisely how Draper feels about Bitcoin prospects and he understands a lot about bitcoin’s foundation.

    WOW, then we’re in for six digits.

    Many of the investors are actually currently worried due to the high volatility in cryptocurrencies.

    Is there any reason for that?

    A cryptocurrency portfolio manager  Jeet Singh, stated at World Economic Forum in Davos, that the current volatility is completely normal when it comes to the cryptocurrencies field. He stated that it is normal for cryptocurrencies to fluctuate by 70% to 80% and that is the main reason why the current volatility does not worry him at all.

    Is there a fear of volatility?

    But, according to him, long-term investors need not fear the volatility at all. Because they are here to stay for a longer period of time, they would not have a problem to hold the cryptocurrencies for a longer period of time.

    Jeet Singh compared cryptocurrencies with current leading companies like Microsoft and Apple. In the beginning, their stocks were also volatile. But, as the companies develop their business model, the stocks not only rose but they become much more stable.

    Prediction 

    He further added that Bitcoin would reach as high as $ 50,000 this year. That means,  If the current price of Bitcoin being around just $ 10,000, that would be a fivefold increase once again.

    What is really happening on the markets?

    The world’s largest crypto brokerage Coinbase is reportedly close to finalizing a $500 million funding round at a valuation of $8 billion. And Binance has started to become more active in the investment sector, funding blockchain startups internationally.

    While major cryptocurrency exchanges like Coinbase, Binance, and BitMEX are seeing their businesses flourish with lucrative business models and high-profit margins, minor exchanges are struggling in the bear market.

    Bear market

    This week, the UK’s oldest exchange, Coinfloor, has slashed the number of its employees. After recording a decline in its revenues as a consequence of the drop in the daily trading volume of major cryptocurrencies.

    Also, the emergence of many cryptocurrency exchanges in the local market causes this.

    But Coinbase entered the local cryptocurrency exchange market of the UK. This has stagnated over the years due to the lack of infrastructure and user demand. It was eliminating exchange rates and appealing to local users that have been awaiting a reliable cryptocurrency exchange in the region.

     In South Korea, a cryptocurrency exchange backed by the country’s biggest commercial banks. Internet conglomerates, and technology corporations such as Upbit, Gopax, and Korbit have imposed dominance over the local market throughout the past two years.

    The fact that an exchange in the size of Coinfloor cannot sustain high-cost operations demonstrates that they need strong infrastructure and backing from major investors and conglomerates.

    On Monday, 8. October, practically all the top 100 cryptocurrencies are seeing reliable growth on the day.

    Ups and Downs 

    Bitcoin (BTC) has seen a strong boost, by press time growing almost 2 percent on the day to trade solidly above the $6,600 mark at $6,664.

    The breakthrough to a higher price point comes after several days of sideways trading. One crypto trader joked just a few days before, he said that bitcoin decided to be the ultimate stablecoin.

    That same day, a Bloomberg pointed up the top coin’s marked price stability, proclaiming that Bitcoin had “hit an inflection point with volatility at a 17-month low.” The flipside to such steadiness, the Bloomberg noted, is lower trading volumes, due to lower “speculative involvement.”

    On its weekly chart, Bitcoin is now just over one percent in the green, with monthly growth a strong 8 percent.
    Ethereum is around 0.6 percent in the red; monthly growth is close to 17 percent.

    Ripple had however tapered off throughout most of early October: the token remains a stark 14.5 percent in the red on its weekly chart. But on the monthly base, its gains are, an astonishing almost 70 percent.

    About other

    The remaining top ten coins on CoinMarketCap are all in the green, almost all-seeing between 2 and 4 percent growth: Cardano (ADA) is uprising almost 5%. Firmly in the green: EOS (EOS) is up close to 4 percent on the day at $5.92, Stellar (XLM) and Litecoin (LTC) both up just over 2 percent.

    Most of the investors are keeping away from the cryptocurrency boom for now. Many of them are just holding their holdings in order to find out whether the cryptocurrencies resume their uptrend or not.

    We may say it is still too doubtful for most of the investors to take a call.

    But the fact is, institutions are increasing their presence in the cryptocurrencies field. That would add value and credibility to the cryptocurrencies in the future. That’s why we can’t see further falling. The main point is that regulatory hurdles have to be sorted.

    After that, we all can be sure that the value of cryptocurrencies would again more.

    Risk Disclosure (read carefully!)

  • Which Altcoins Look Good in The Near Future?

    Which Altcoins Look Good in The Near Future?


    Altcoins are cryptocurrencies also like Bitcoin. But most of them are forks of Bitcoin with small changes.

    By Guy Avtalyon

    Altcoins represent all coins that are not Bitcoin. Altcoins are usually under the radar. Still, altcoins can generate fantastic gains if you are lucky enough to find the particular one that skyrockets soon.

    But be aware. The risk involved is really high.

    You may end up holding a bunch of useless projects that never go anywhere.

    The current cryptocurrency market is very hot. And everyone wants to make a lot of money there. Well, as first, count on the risk because here it is very big.

    When you want to invest but you don’t know which crypto to purchase, you should find more and more information about cryptocurrencies. And look at their white papers.

    What altcoins to choose?

    It would be arrogant of us to think that we can predict exactly which altcoin will be the best. And take this piece of advice. Never listen to anyone who pretends to know everything for sure in crypto.

    We are not saying only these altcoins are good or they’re the best. They’re just altcoins that we can imagine are going to be worth looking at in more detail.

    We have to tell you this is not financial advice to invest in any crypto and please do your own homework and make the decision by yourself.

    To do our homework, we followed 3 criteria for coins:

    *  Isn’t related to a Ponzi scheme or multi-level marketing
    * can’t be in the current top ten
    * must be tradable on a trusted market or exchange

    Find answers before choose altcoin

    Do they have a solid team? How is about their technology? Is it solid enough already or, maybe, their future technology could be unique? Also, is this company going to work 5 years or more?

    We know that many of you may disagree with our choice, but feel free to express your opinion in comments.
    The order on this list is random.

    What altcoins to look at?

    1) Ethereum – This list of the best altcoins must begin with Ethereum, which is the second most valuable cryptocurrency after Bitcoin. Ethereum was launched in July 2015 by the now-famous prodigy of the cryptocurrency world and it was done by Vitalik Buterin. This altcoin provides a platform to the developer on which they can build blockchain-based smart contracts and decentralized apps.

    It was the first cryptocurrency to introduce smart contracts, which are now considered as the next big thing.

    One of the biggest challenges being faced by Ethereum has been scalability. Ethereum’s network currently supports roughly 15 transactions per second.

    This isn’t that great but we expect they will solve that in the near future.

    2) Litecoin – One of the oldest altcoins, was created in 2011 by Charlie Lee. Like Bitcoin, Litecoin is also a digital currency but with improvements. In fact, the reason for launching Litecoin was to overcome some of the shortcomings of Bitcoin, especially its slow transaction speed.

    The reason that it is called Litecoin is that it is 4 times faster than Bitcoin. Bitcoin’s transaction takes about 10 minutes to complete but a Litecoin transaction is completed in 2.5 minutes.

    3) ICON – It is a project that has experienced huge gains. Currently, it’s not even traded on Korean exchanges, which is insane. Their vision is to allow many different blockchains ( private and public) to work together, like universities, banks, hospitals, schools and they can all share information together via Icon and other partners.

    Further

    4) Neo – It’s one of the best long-term altcoins. Neo has the potential to reach Ethereum’s market cap. Many people invest in Neo because they have confidence that sooner or later the Chinese government is going to legalize ICOs again. But only if Neo is the blockchain is used.

    Neo’s CoFounder Da HongFei himself has denied this theory several times. The Neo project is much more than trying to be Chinese Ethereum. And it’s going to succeed anyway, without depending on what China does with ICO’s. Neo is going to help create the future of blockchain. You don’t need ICOs to be legalized in China for this to happen.5) DASH – Altcoin launched in 2014 by Evan Duffield. At the time of launch, it was called Xcoin and was then renamed to Darkcoin. In 2015 that it was rebranded to Dash. Dash has been forked from Litecoin, which is itself built on Bitcoin’s technology but it offers significant advantages over Bitcoin like better privacy and a higher transaction speed than Bitcoin.

    6) Cardano (ADA) – Cardano is one of the newest cryptocurrencies and it not only offers a platform for Dapps and smart contracts but also offers many technological improvements over Ethereum and other blockchains.

    This altcoin has not given as high returns as other top coins but it is still popular among investors because of its promise of building a highly robust blockchain that offers advantages over Ethereum. We will see!

    More

    7) EOS – Relatively new altcoin whose Initial Coin Offering (ICO) was launched in June 2017. EOS and created by Dan Larimer. It is both a digital currency and a blockchain platform for DApps and smart contracts, more like Ethereum than like Bitcoin. This coin is much more scalable than Ethereum and EOS support multiple languages, including C++. This is a very convenient feature if you are the developer.

    8) Wanchain – It is possibly even more hyped up cousin of Wanchain. The two projects are in the same category of projects but are complementary to one another.

    Wanchain works on the ability of different chains to work together, like Icon. This is going to be of huge value as blockchain develops.

    9) Filecoin – Filecoin is a decentralized storage solution. Filecoin allows for anyone, anywhere to get paid for storage and it is built on top of IPFS. It is a new peer-to-peer protocol. Filecoin broke a record while raising $257 million dollars at their ICO. It has all of the right things with worldwide implications.

    These are just some of my thoughts that I share with you and you should not take them as the only and undeniable truth.

    Should you be cautious about altcoins?

    People are being very cautious with all these new forks and new versions of Bitcoin. There are alts that are booming right now it is just when new people join the market. They generally know only about BTC and once they do due diligence and learn about the market and with all the great alts that are out there, the money will shift.

    What do you think? Which alts look good in the near future?

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