x
What Could Go Wrong for Bitcoin in 2018?
A host of cryptocurrencies are vying with the more-established Bitcoin for the interest of investors looking for risk and the potential make a quick buck.While Bitcoin has a cryptocurrency market share of more than 50%, competition is hotting up as investors are looking at smaller, cheaper cryptocurrencies for which there is more scope to rise in value.Bitcoin, the most established cryptocurrency, was worth $13,300 and had a market capitalization of $224 billion on Sunday, according to Coinmarketcap.The next largest cryptocurrency by market cap is Ripple, which was worth $91.7 billion on Sunday, followed by Ethereum, worth $70.9 billion. However, one Ripple is currently priced between $2 and $3, extremely cheap when compared to competitors such as Litecoin ($220) or Ethereum ($732).
According to ValueWalk.com, a site for investors, smaller cryptocurrencies could be a worth a punt as the price of Bitcoin remains high."Go a few rungs lower and market cap plummets; by the 200th rung you get Faircoin, at a mere $57 million market cap and $1.09 apiece earlier today. Move on down to #1,065 and you get Nodecoin, with a total market cap of less than $8,000, a price of less than a nickel per coin—and a 19% gain in just the past hour!" ValueWalk advised on Saturday. The cryptocurrency with the fourth largest market cap is Bitcoin Cash, which was created as a result of a so-called "fork" in August when some Bitcoin developers branched off to create a new, allegedly superior payment network — with the same transaction history.
Chuck Reynolds
Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614
