October 30 Price Analysis: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin
Oct 31, 2017 Posted / 1549 Views
Most of the cryptocurrencies are based on Blockchain, a revolutionary technology. It is an international, distributed ledger to keep records of transactions in a safe and secure way that add significant value to the overall structure of an electronic currency. Not just cryptocurrency, Blockchain technology find its utilization in cloud storage and as a political platform. To boil down, Blockchain enables electronic currency, and add value to it.
For investors, they understand that Blockchain enabled digital currencies, is the key to the coming boom of Blockchain, which is bound to strike the stock market, and soon. Though at present, there is no Blockchain dotcom-style stock market uncontrolled yet, it will happen in the coming years.
Currently, the market cap of electronic currencies surpassed $170 billion, and with every passing day continue to evolve, suggesting it will hit some new peaks of dominance in the coming one decade. On 4th September, the crypto market saw another significant increase, reaching $172.2 billion, according to CoinMarketCap. Cryptocurrencies have come a long way, from just being a small investment opportunity for businesses to as a means of payment at retail stores. $17.2 billion worth at the start of the year to $172.2 billion, the rise is worth noting for investors. The crypto ecosystem is growing for a length of reasons, spanning from the boom of ICOs, sustained the interest of worldwide investors, raising funds, all are in convergence for cryptocurrencies tremendous growth.
Price Analysis: Bitcoin on 30th October 2017
Bitcoin, the first digital asset based on Blockchain technology was released in the year 2009, from there on, it has no looking back, with a continuous surge in value and interest from every nook and corner of the world. Today, Bitcoin means big for the global banks, just like email to the post offices, and Amazon, the tech giant to retail landscape. On, October the 30th, this year, Bitcoin increased by 0.68% to $ 6142.66. In the next couple of days, this trend will trend, as Bitcoin expected to experience marginal increase.
Price Analysis: Ethereum on 30th October 2017
A cryptocurrency that comes with a unique feature, known as the future of B2C deals, smart contracts, in the last two years has made significant gains. Investors are seeing immense investment potential in this digital currency, it is more safe and secure. October 30th, Ethereum currently sitting at $ 306.87, saw a drop in value, 0.33% in the last 24 hours. Being, a marginal dip, the price of Ethereum is expected to bounce back with a slight increase the following day and will continue for at least one week.
In the month of August this year the price of Bitcoin Cash swung like a pendulum, however, the future of this currency is robust, this is what eminent finance journals predict. The reason for volatility in price is the core group of Bitcoin Cash not releasing how this currency would shape some years from now, reported Coindesk. The sudden increase in price, in the year 2017, has pushed this currency to third place in the list of top cryptocurrencies in terms of market cap. October 30th was a great day for Bitcoin Cash owners, with a significant increase in value, thanks to Bitcoin hard fork. So, the value of Bitcoin Cash sits around at $449.94.
Ripple currency, this year rose to $3,000, leveraging investors to consider this cryptocurrency as an ocean of possibilities. Also known as Ripple protoco, the Ripple Transaction Protocol (RTXP), is the technology behind Ripple Cryptocurrency. It is based on a distributed open source Internet protocol, keeps a record of Ripples. Launched in the year 2012, the Ripple concurrency support safe, secure, instant and low-transaction fee model for global financial transactions of any volume, plus, no chargebacks. Trading at a value of 0.1913, for quite some time, its value saw a dainty increase of 0.213% with the current value $0.202304 on 30th October, and experts believe the trend will remain this way in the next couple of days.
Litecoin, this year gained about 1500%, it is a peer-to-peer electronic currency, which is gaining grounds in the recent times. Launched via an open-source client on GitHub, October 2011, by a Google former employee, named Charlie Lee. the network of this cryptocurrency was made live on 13th of October, same year. This currency has a decreased Blockchain generation time to 2.5 minutes, and add to that increased coins, compared to Bitcoin. Also, has a slightly modified GUI. With a market cap of $2,959,080,871, 30th October 2017 Litecoin experienced an increase of 0. 566% to attain the value of $56.19. This day saw a series of ups and downs, price changing with every passing hour.
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.