The fascinating week continues as the Crypto Currency market is now worth $500 Billion!
We have seen prices rise drastically for many of the Crypto currencies over the past few days. Litecoin went on an amazing bull run which was followed shortly afterwards by Ripple’s XRP. We are now seeing Bitcoin Cash do the same. The price of Bitcoin Cash has risen by over 20% in the past 24 hours.
Bitcoin cash rising
If you follow our posts on a regular basis then you will know that we have been predicting Bitcoin Cash to rise in price for a while now, back when it was under $600! Bitcoin Cash’ latest spike in price comes at a time when Bitcoin is struggling to reach the $20,000 mark. Whilst Bitcoin Cash is up 20% over the past 24 hours, Bitcoin has fallen by just over 2%. At the moment Bitcoin Cash is gathering momentum and a lot of supporters, many believe it to be the actual ‘Bitcoin’ due its low fees and quick transaction times; something that Bitcoin core has been criticised with lately.
We look forward to seeing whether Bitcoin’s bull run can pick up and hit that $20,000 before the end of the year.
Ripple’s XRP
Ripple’s bull run has continued with no signs of a correction just yet. There is heavy speculation that a ‘big’ announcement will be coming out tomorrow which will push the price up even further.
CAUTION
We know the hype on Cryptocurrencies has been great of late, more and more investors are jumping in. New investors are opting against the traditional stocks and shares investments and jumping onto the Crypto market due to the high gains they are seeing. We have been following the Crypto market for a long time and although we are not investment advisors, and our site is not intended to be used as such, we will urge caution as we have seen major corrections take place in the past. It is not uncommon to see a drop in value of 50% or even more in one day!
Governments will at some point tighten their rules and regulations on Crypto’s; in the past this has caused mass panic selling. Make sure you conduct your own research, stay informed and use caution on a market that is still at a very early stage.
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.