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Bitcoin, Ethereum, Litecoin, and other major cryptocurrencies have seen incredible gains in 2017. Which ones are most likely to reach $1000?
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Bitcoin
Bitcoin has had a volatile but ultimately positive year, and it looks poised to continue this trend in the future. While other cryptocurrencies have seen their values plummet, Bitcoin has maintained its position as the most popular and valuable cryptocurrency. Many experts believe that Bitcoin will reach $1000 in the near future, and some even believe that it could happen by the end of 2018. only time will tell whether or not these predictions come true, but one thing is for sure: Bitcoin is a force to be reckoned with in the world of cryptocurrencies.
Bitcoin’s Price History
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Bitcoin’s Volatility
Bitcoin’s price is notoriously volatile, and recent years have seen some major swings in value. In December 2017, the price of one Bitcoin reached almost $20,000, before crashing back down to around $3,000 just a few months later. This kind of volatility makes Bitcoin a risky investment, but also creates opportunities for traders who are willing to take on the risk.
One factor that contributes to Bitcoin’s volatility is the lack of regulation around the cryptocurrency. Unlike traditional fiat currencies (like the US dollar or Euro), there is no central authority that setting the price of Bitcoin. This means that any factors that affect demand or supply can have a big impact on the price.
Another factor that makes Bitcoin volatile is its relatively small market size. While the total value of all Bitcoins in circulation is now over $100 billion, this is still only a fraction of the total global currency market. This means that even small changes in demand can cause large swings in price.
Despite these risks, many people believe that Bitcoin still has a bright future. The cryptocurrency has already made sparking gains in recent years, and some experts believe it could continue to rise in value as more people adopt it and use it for everyday transactions.
Ethereum
Ethereum is one of the most popular cryptocurrencies and it is currently trading at around $300. There are a lot of people who believe that Ethereum will reach $1000 in the next few years. Let’s talk about the reasons why Ethereum could reach $1000.
Ethereum’s Price History
Ethereum’s price history is a rollercoaster ride. After hitting an all-time high of $1,422 in January 2018, the ether price began a steady decline that took it to a low of $85 in December 2018.
Since then, Ethereum’s price has recovered somewhat, but it remains well below its all-time high. In May 2019, the ether price reached $230, which is still far below its January 2018 high.
What’s causing Ethereum’s price to fluctuate so wildly? Here are a few factors that may be influencing the ether price:
The cryptocurrency market is highly volatile. Ethereum’s price is influenced by changes in the broader market.
Ethereum is often used to buy other cryptocurrencies, so changes in the prices of those coins can impact Ethereum’s price.
Ethereum is still a relatively new technology, and it’s possible that as it becomes more widely adopted, its price will become more stable.
Ethereum’s Volatility
Bitcoin isn’t the only cryptocurrency that could make you rich. Ethereum, Ripple, Bitcoin Cash, and Litecoin have all soared in value over the past year.
However, Ethereum is different from Bitcoin and other cryptocurrencies in several ways. First, it’s not just a digital currency; it’s also a platform that enables developers to build decentralized applications (dapps). Second, Ethereum is inflationary, meaning that new coins are created each year to keep the system running smoothly. Third, Ethereum’s blockchain is more flexible than Bitcoin’s, allowing for more types of transactions.
Fourth, and perhaps most importantly, Ethereum is much more volatile than Bitcoin. That means that prices can fluctuate wildly, and investors can make (or lose) a lot of money quickly. So if you’re thinking about investing in Ethereum, you need to be prepared for the ups and downs.
Litecoin
Litecoin is a decentralized cryptocurrency that was created on October 7th, 2011. It is similar to Bitcoin in many ways, but it has a faster block generation rate. This allows Litecoin to confirm transactions much faster than Bitcoin.
Litecoin’s Price History
LTC started its life in October of 2011 as a fork of the Bitcoin client. Like Bitcoin, Litecoin is a decentralized cryptocurrency that enables near instant, peer-to-peer payments. Charlie Lee, a former employee of Google and Coinbase, is the creator and lead developer of Litecoin.
On December 7th, 2017, the price of Litecoin reached an all-time high of $370.33 USD. This is an incredible feat for a digital currency that was only worth $4 USD only 8 months prior. Since then, the price has come down from its all-time high but still remains hovering around $200 USD. Many experts believe that Litecoin still has a lot of upside potential.
What caused this meteoric rise in price? Some experts attribute it to the fact that Litecoin is seen as a more “venture capital friendly” blockchain project than other digital currencies. Others believe that the price increase was simply due to speculation and FOMO (fear of missing out).
Whatever the reason may be, there’s no denying that Litecoin’s price increase was one of the biggest success stories in the cryptocurrency world in 2017.
Litecoin’s Volatility
Litecoin’s price is highly volatile. In the past 3 years, Litecoin’s price has decreased by more than 75%. However, in the past month, Litecoin’s price has increased by more than 400%.
Bitcoin Cash
Bitcoin Cash (BCH) is a cryptocurrency that was created as a fork of Bitcoin. Bitcoin Cash has a larger block size limit and had an initial mining difficulty that was much lower than Bitcoin. Bitcoin Cash also has replay and wipeout protection. These features make Bitcoin Cash much more attractive to investors and users.
Bitcoin Cash’s Price History
Bitcoin Cash is a cryptocurrency that was created as a fork of Bitcoin in 2017. Since its inception, Bitcoin Cash has been one of the top performing cryptocurrencies, often reaching prices above $1000 per coin.
Bitcoin Cash’s price history is full of volatility, reaching all-time highs and lows within short periods of time. The cryptocurrency reached its all-time high price on December 20th, 2017, when it hit $4222.79. However, the following year was full of ups and downs for Bitcoin Cash, and by December 2018, the price had fallen to $102.
2019 was much more stable for Bitcoin Cash price-wise, with the cryptocurrency slowly but steadily rising throughout the year. On November 25th, 2019, Bitcoin Cash hit $505.51, its highest price since mid-2018. As of December 2019, Bitcoin Cash is once again trading around the $500 mark.
Only time will tell if Bitcoin Cash will continue to rise in price and reach new all-time highs. However, given the volatile nature of the cryptocurrency market, investors should be prepared for sudden changes in prices.
Bitcoin Cash’s Volatility
Bitcoin Cash (BCH) is a cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain on August 1st, 2017. The hard fork was necessary in order to allow for an increase in the block size limit from 1 MB to 8 MB, which helped to solve the issue of bitcoin’s scalability problem.
Since its inception, Bitcoin Cash has been one of the most volatile cryptocurrencies in the market. In December 2017, the price of BCH reached an all-time high of $4,355.62. However, by the end of 2018, the price had crashed down to $70.85.
As of May 2019, the price of BCH has once again started to surge and is currently trading at around $900. While it is still too early to say whether or not BCH will reach $1000 per coin, there is a good chance that it could happen in the near future given the current market conditions.
Ripple
Ripple is a cryptocurrency that is BLM-based and it is currently trading at $0.50. The market capitalization of Ripple is $20.4 billion and it has a circulating supply of 38.7 billion.
Ripple’s Price History
Ripple is a digital asset designed for use in real-time global payments. Released in 2012, Ripple is built upon a distributed open-source protocol and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value. Like Bitcoin, Ripple is decentralized and powered by a blockchain that facilitates secure, instant transactions. However, while Bitcoin primarily focuses on serving as a digital currency or “peer-to-peer electronic cash system,” Ripple aims to offer a platform for “low-cost international payments.”
Ripple’s price history is characterized by long periods of stability punctuated by sudden spikes. After reaching an all-time high of $3.84 in June 2017, Ripple’s price fell sharply over the next few months and hovered around $0.20 until December 2017. At the beginning of 2018, Ripple experienced another sharp increase before stabilizing around $0.60 for most of the year. In 2019, Ripple surged again reaching $0.90 by mid-year before falling back below $0.50 in December 2019.
As of January 2020, Ripple is once again on the rise with a current price of $0.30. While some investors remain optimistic about Ripple’s long-term prospects, others have warned that the cryptocurrency is due for a correction. Only time will tell whether Ripple can continue its upward momentum or if it is due for a fall.
Ripple’s Volatility
Ripple’s volatility has caused some investors to shy away from investing in the cryptocurrency. While the cryptocurrency’s price does tend to fluctuate more than other digital currencies, Ripple’s volatility is not as extreme as some of the others. The cryptocurrency has a market capitalization of over $100 billion, making it one of the most valuable digital currencies.
