It has been interesting few days on cryptocurrency market. Then again, every week is very interesting and sees great changes and wild price movements. Winner of this week is definitely Ripple and their token XRP that has seen huge surge in value. You can read article about that here. Generally crypto market has reached all time high this week, today entire market cap went over $700 billion! This is astonishing number if we take into account that this time last year market cap was less than $18 billion.
Trade Bitcoin – Altcoin Prices Reach New Heights!
Only a week ago on 28th December market cap was at $565 billion and today on January the 4th it is $764 billion! This great rise was propelled by many new investors flocking to the cryptocurrency market. Main cryptocurrency – Bitcoin saw the biggest rise over the 2017. Bitcoin alone accounts for more than 35% of cryptocurrency market cap.
The bitcoin cash price reached $2.416, with its market cap reaching $7,486,450,000. BCH actually saw significant fall of more than 11%. Cardano, that is 5th largest altcoin reached $1,14 price, which is 9% rise. Cardano’s market cap is closing to $27 billion. Litecoin is the biggest loser together with bitcoin cash. Litecoin’s market cap fell by 7,96% and it is currently trading at $230. Ethereum saw 15% rise of price, reaching $1,032.94 with market cap just $45 million short of $100 billion.
Trade Bitcoin – What Is Driving Bitcoin Price Up?
Besides the fact that it is first and most famous cryptocurrency that all media are reporting about, great deal of day-to-day price movement is going on depending on the news. For example, this Wednesday, January the 4th there was news released that well-known Silicon Valley venture capital firm Founders Fund was holding hundreds of millions of dollars in bitcoin. This news alone is enough to drive the price of bitcoin against the dollar well up. These news are quite often, every week someone important invests in bitcoin or some altcoin and these news in turn rise prices of cryptocurrencies up.
Trade Bitcoin – How To Trade?
Trading is simple, you invest money, buy Bitcoin and wait for it increase value. Or if you are after more dynamic approach you can engage in day trading. Buying at lows and selling at highs. Style you choose is up to you, but first step is the same regardless of your trading style. That is opening account and start trading. First you register at site that enables cryptocurrency trading. One of best brokers is IQ Option. So you register on IQ Option site. Then you add credit to your account at their site, and just buy bitcoin. You register by clicking on the button below the text and opening free trading account at well-trusted broker – IQ Option. Great about IQ Option is the fact that they are protection your bitcoin purchases by the compensation fund. Your bitcoins will not be tored on an exchange, IQ Option uses cold storage only. That further increases security.
RISK WARNING: Cryptocurrencies are highly volatile, risky and complex products. Due to wide price fluctuations, trading them may result in significant loss over a short period of time. Leverage can work both to your advantage and disadvantage. As a result, trading cryptocurrencies may not be suitable for all investors, and you should never invest money that you cannot afford to lose.