Price Analysis Last One-Week Analysis- Bitcoin, Ethereum, Ripple, Litecoin
Nov 29, 2017 Posted / 2894 Views
The worldwide market for the cryptocurrency has augmented from lingering around $18 billion at the start of the year 2017 to $300 billion now, as per the recent report a few days back. Nowadays, just about every individual, be the commoners or the people in the corporate world is talking about Bitcoin, with every merchant opened arms ready to embrace cryptocurrency as a mode of payment. Today, there is a global boom for the cryptocurrency, it's all because of the robust and secure of digital currency.
Every cryptocurrency, today, is powered by the advanced Blockchain technology. The blockchain is a public, transparent ledger, which shared over every computer in the chain. It verifies and records every digital currency made over the network, and entry once made into this ledger, cannot be deleted or manipulated. Plus, no hacker can make an inroad into the chain easily, since it needs to attack every computer to complete a cyber scam. `
The cryptocurrency adoption like the Ethereum, Ripple, continue to evolve and grow as more and more people and investors across nations are seeing the immense possibilities and benefits cryptocurrency has on offer. To further mainstream it, there is a length of opportunities for entrepreneurs and business owners.
With the emergence of the Bitcoin in the year 2009, Cryptocurrency has attracted a massive database in the subsequent year, and since there is no stopping for the ecosystem of digital currency. After that, there has been a mushrooming of cryptocurrencies, with new currency arising, like the Ripple, Ethereum, Litecoin. All these currencies recorded a serious surge, around 100%. Bitcoin in particular from $23 at the beginning have recently gone over the 800$ mark. In a nutshell, experts around the world, believe that these virtual money both will become as ubiquitous as Euros and dollars in the coming years.
Bitcoin, it is a decentralised cryptocurrency, that employs the advanced peer-to-peer technology, which inherits all the currency features, like the conventional currency like the transaction and processing and verification over the network. This currency is free from the clutches of the government, means there is no central authority to ensure the smooth operation and supply of currency. Bitcoins are created by the process of mining, where miners unearth it by solving complicated math problems and crunch numbers.
Bitcoin recorded a significant rise of 25% this week. In the last seven days, Bitcoin further saw a rapid rise of $2,000 leading to an all-time high of $97,700 staggering increase over 7 days. The weekly analysis of the Bitcoin is a parabolic envelope.
Today there is hype surrounding the Ethereum currency, all thanks for its exclusive feature of smart contracts. A smart contract is an undersigned inked by both the parties, the service provider and customer, centred on a single criterion. If the condition is satisfied, then the transaction is executed, it is the new way modern businesses will be done. The core of this virtual currency is the Blockchain technology, it is a ledger that verifies and records every financial transaction. Ethereum, in the last couple of years, has gained in popularity. Not only a cryptocurrency, Ethereum is a digitised platform that all coders to create new decentralised applications. And, its security aspect is boosted by the Blockchain technology, that ensures, this currency is free of scams and frauds.
Over the last seven days, the Ethereum currency has attained an all-time high to reach $482.17 against the US dollar.
A real-time gross settlement system, Ripple is remittance and currency exchange network developed by Ripple. This system is based on the shared open source Internet protocol consensus ledger, XRP, its native cryptocurrency. Unleashed in the year 2012, this currency is based on the model of decentralisation, with the added perk of no chargebacks for merchants, means cannot be shut down by the government. Ripple, in the last few years, has been welcomed by the bank and several payment platforms as settlement system, and some of these include, UniCredit, Santander, and the UBS. At its core, Ripple has all the advantages of popular cryptocurrency like the Bitcoin, its security and price surge,m with added two or three.
In the last seven days, Ripple has seen a series of up and down, from $0.2451 on 23rd November to $0.2939 November the 28th, it has witnessed a steep rise in value, but the maximum value was on 27th November $0.2986.
An open source software, Litecoin is a peer-to-peer digital currency, released under the MIT/X11 license. The transaction and processing of this currency are based on the model of open source cryptographic protocol, and not administered by any local authority.
Litecoin, in the last one week, have shown a steady rise, its value on 22nd November was $73.97 and it reached to $97.56 on 28th November, therefore, a significant rise.
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 .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.