Wednesday, 26 September, 2018

Investors seek answers as crypto coins head into red

Bitcoin Pyramid Scheme Bitcoin Price Investors seek answers as crypto coins head into red
Nellie Chapman | 21 January, 2018, 02:50

Merits of using CryptocurrenciesReduced reliance on third party financial institutions, and transaction system based on trust/proof Cryptocurrencies such as Bitcoin, lite coin etc. are created to reduce reliance on third party financial institu-tions for transactions.

Like Bitcoin, Ripple is already fighting towards a comeback.

While Bitcoin is a digital currency based on the blockchain, Ripple is a real-time payment settlement network with a virtual currency that works on an enterprise blockchain that claims to have more than 100 customers across the globe, including American Express, Santander and UBS.

Thomas Lee, co-founder of Fundstrat Global Advisors, has predicted that the price of Bitcoin is set to more than double this year and has initiated a buy call on three more cryptocurrencies - Ethereum, Ethereum Classic and NEO.

Further, XRP does not aim to replace the existing legal tender unlike Bitcoin. To learn more about digital currency exchange, check out Crypto Head's Ethereum explainer page. The currency also supports faster cross-border payments.

So is this finally the massive supposed "bitcoin bubble" finally popping?

Top performers out of the top 50 cryptocurrencies by market capitalization included Maker (up 64.00%), Dentacoin (up 59%), Verge (up 52.47%), Ripple (up 48.8%), Basic Attention Coin (up 41.12%), VeChain (up 36.79%), and TRON (up 35.48%).

At XRP's peak on January 4, Larsen was worth $59.9 billion.

He was briefly tied with Facebook CEO Mark Zuckerberg in the fifth place on the list of the world's richest. A Ripple price forecast that is twice whatever its current value is. Ripple is about traceability, Bitcoin about anonymous currency movement. He left the company in 2013 and founded another open source protocol Stellar in 2014.

This is likely to mean stricter identity checks for those using crypto exchanges as is the case in many other countries, it is nothing new. A whopping $177 billion in capital flowed back into the ecosystem. The leading cryptocurrency moved above $11,000 Thursday morning amid a broad rebound in the market.

Additionally, South Korean bank Woori Bank announced that it would conduct a second pilot program using Ripple's enterprise blockchain.

In fact, while many bitcoin investors have seen their portfolios drop by nearly 50%, some are seeing it as a chance to purchase more at an incredibly discounted price. This will allow investors to mathematically verify the maximum supply of XRP that can enter the market, according to the website of the company.

When the mainstream media was busy talking about the sharp decline in the price of crypto currencies earlier this week, the Singaporeans showed their smartness by purchasing as much crypto they could from the Bitcoin ATM machines. Bitcoin comprised 33.6% of the total crypto market. Those that got into the currencies at fractions of a penny and now have major crypto-wealth?

Ripple XRP, commonly referred to as the ripple, has shot up to about $1.61 per token as of Friday morning.