November 9th Price Analysis: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin
Nov 10, 2017 Posted / 16514 Views
In earlier days, with the unleashing of Bitcoin, there was a lot of skepticism about the safety and credibility of cryptocurrency. A section of the crowd was against the idea of this kind of currency, but the recent success has put such talks to rest. The core concept of these currencies is, cryptocurrency is decentralized, means the central government or any federal agency cannot issue the currency or demonetize the cryptocurrency. In simple words, cryptocurrency stays clear of the clutches of government, and this has drawn investors and global businesses to consider cryptocurrency as a great investment opportunity.
The heart is the most important entity in a human body, its keep us up and running, and the same goes with cryptocurrency, who heart is the Blockchain technology. The Blockchain is a distributed, transparent ledger which verifies and record every cryptocurrency transaction. Here, in the Blockchain network, no single computer holds the complete data, there is series of computers (in thousands) with each attaining the information. The aspect of the Blockchain technology has boosted the security facet of the cryptocurrency as any hacker, who willing to take the challenging of hacking the Blockchain network has to get hold of every computer at the same time, which is next to impossible.
Even though there are many miles to go, it's a no-brainer to proclaim cryptocurrency using the most encryption model known as the cryptography. With many of the cryptocurrency, launched after the big success of Bitcoin the world's largest electronic money is doing well, with an overall graph of rising, in the last couple of years. Additionally, the recent advancements across the world is empowering cryptocurrencies bright future, like the Japanese government finally accepted Bitcoin, whereas the Indian government is working on framing a bill to help cryptocurrency secure a place in the Indian economy, and worldwide acceptance of this kind of currency as a means of payment is further highlighting the above statement.
Unveiled in the year 2009 by an anonymous group, Bitcoin has been the baton holder for the cryptocurrency. Not only owing to the fact, it is the first electronic money, but being the currency which has magnetized the masses with both its security aspect and immense investment potential. Over the year this currency has made progression with the rise in value helping it to cross the barrier of $7,000, which is quite significant, to say the least. On 9th November, this currency moved to a new high with a value $7186.09, by a rise of 0.55%.
Released on 30th July year 2015, this is a public, an open source distributed, computing platform powered by the technology of Bitcoin has the unique smart functionality feature. Ethereum, since its launch, has done well to attain trust from global investors and entrepreneurs, who are considering this currency for creating ICOs campaigns. On 9th November, Ethereum witnesses a slight fall of -0.47% in value, reaching to $318.98.
November the 9th, Bitcoin Cash reached its nine days high to $373. According to a top report, this virtual money gained 4.12% in value in the last 24 hours. The background reason for the sustained rise in value is the increase in the trading volume recently.
After the fall, Ripple fly higher with a slight of increase of 0.14% to reach the value of $0.217963. The trading volume in the last 24 hours has also spiked quite significantly.
Released on 7th October 2011, Litecoin is a peer-to-peer cryptocurrency, also an open source software under the name MIT/X11 license. The creation and trade of this cryptocurrency are based on the model of an open source cryptographic protocol and is decentralised. Means, no central authority can have interference of any sort. The value of this electronic currency experienced a significant jump of 4.57% to reach $65.30, which is great to announce that after Bitcoin and Ethereum, this currency is going to be major investment option.
From the above, you must have got an idea which currency is experiencing a boom. Therefore, helping you to reach a conclusion which of these electronic currencies is best pick for both individual and business investment.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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