Bitcoin has once again reached an all time high as it crossed over $6,000 per coin and is currently trading at $6,130 per coin.
The price has risen sharply over the past few days, whilst many of the other Crypto’s including Ethereum and Ripple’s XRP have fallen substantially. Ethereum is currently priced at $288 (down 16% since 14 october).
It appears that many investors have taken their money out of the ‘Alternative’ Crypto’s and put it on Bitcoin. There have also been big investors adding Bitcoin’s to their portfolio recently. The upcoming Bitcoin ‘hard fork’ is another reason why the price of bitcoin has risen as investors anticipate receiving a free ‘Bitcoin Gold’ for every Bitcoin they have (see our previous post on Bitcoin).
Coins to keep a look at in the near future:
- Bitcoin – with upcoming hard fork we expect to see volatility in the price of Bitcoin in the upcoming days
- Ethereum – currently undoing an upgrade which is successful could see the price rise to all time highs fairly soon
- Ripple XRP – has seen a drastic decrease in price in recent days due to the not so swell ‘swell’ conference. Look out for news in the coming days which could push the price back up
- Neo and Walton – Keep an eye on both coins, especially as we await further news from China which could push the price of these two coins up
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.