Economy

Bitcoin Holding above $13000, Ripple Eases after Year-End Rally

Bitcoin Holding above $13000, Ripple Eases after Year-End Rally”

If you thought Bitcoin's more-than-1000% surge in 2017 was astounding, think again.

The price has actually risen from New Year's Day, when the price was nearly US$13,000. Bitcoin cash, Ethereum, Litecoin and some others offer potentially better futures than Bitcoin. Ripple is one currency I mentioned in my previous article.

Ripple's market cap rose more than 50% on Friday, to a record $85 billion.

Ripple, or XRP, leaped 37.5 percent from Tuesday's close to a record high of 51.37 cents Wednesday, according to CoinMarketCap. Since 1 January 2017 the price has risen by over 30,000%.

Ethereum, which has been the second biggest cryptocurrency by market capitalisation for some time, saw that crown come under threat during the Christmas period after a huge surge in the price of XRP, a currency created by Ripple that is focused on bank transfers. Ripple shot up last week to become the second most valuable cryptocurrency after bitcoin, with its market cap reaching above $100bn over the weekend.

Among blockchain and cryptocurrency plays, Riot Blockchain (RIOT) rose 110% in December. The new currencies were rolled out a few years after bitcoin started gaining popularity. Even many Asian regulators, which were previously considered as friendly to the bitcoin industry, have begun to crack down on the corporates and individuals that are associated with the bitcoin market and this is why the prices are facing the heat. Ethereum, which now has a market cap of $ 72 million, delivered a 9162% return in 2017, according to Quartz based on data measured by CoinMarketcap.

Ripple is priced around $2.3, litecoin can be bought for $231, while bitcoin is available for a whopping $13,100 on Tuesday. A good tech stock like Altium Limited (ASX: ALU) is my preferred way of getting exciting growth.



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