3 Popular Cryptocurrency Prices – How Are They Doing So Well?
Cryptocurrency has been one of the fastest growing industries in the world today, and has been given a great deal of attention by several financial publications recently. The rapid growth of this industry has inspired many people to venture into it themselves, making the demand for information about its very nature even higher. This article will seek to provide an in-depth analysis of this fast growing industry, and provide insight into some of the factors that influence its Cryptocurrency prices.
Firstly, we will examine the reasons why Cryptocurrency traders believe their present price is the lowest. One of the largest causes of this low price is the large amounts of trading that goes on at any given time. There are millions of traders around the world participating in daily transactions that involve buying and selling Cryptocurrencies and other forms of Digital Currencies. As can be seen by the image below, this number is always increasing over time:
Due to the number of everyday users currently accessing the Internet via their personal computers, there is a high degree of communication between people all around the world. The average person will use at least one Cryptocurrency from anywhere around the world, using either the main Cryptocurrency markets like the LTC, BTS, EUR/USD or the secondary markets like the XLV or the OKEX. This massive amount of daily transactions is what drives the growth of Cryptocurrencies. Each of the major Cryptocurrencies, such as Dash, Namecoin, Stratis and iFine will have their own dedicated network of servers to facilitate this.
As can be seen in the image below, the largest number of daily transaction takes place during the evening hours, which are also the times when most investors are away from their computer consoles and are normally logged on at work. If we look at the average prices of the largest two Cryptocurrencies, namely Dash and Litecointrade, we can see that they both have daily trading volumes of over two million and a daily exchange rate of around three hundred US dollars per coin. This gives us an indication of how well the top twenty Cryptocurrencies perform when faced with the condition of the market cap, which is $3.2 billion.
The next largest currency by volume is ethereum, which has a daily transaction volume of over two million, and the second largest after Dash at around four hundred thousand. This gives us an idea of how well each one of the top twenty most traded coins perform relative to their respective market caps. This also gives us an idea of how well the leading twenty most circulated cryptocoin currencies perform, as well as the future potentials of the new entrants to the marketplace.
At present, we can see that all of these top twenty currencies have very strong market performance, with the highest volume during the evening hours and the lowest during the morning hours. Therefore, the largest cryptocurrency prices would be the best investment opportunities for day traders and collectors. Even though there is presently a lot of uncertainty in the marketplace and speculative investors will experience increased risk with any investment activity, we can also see that the volatility of the market is gradually decreasing, which bodes well for the long term health of the marketplace. During the last several months we have seen some wild fluctuations in the market, but in general, the best times for Cryptocurrency trading are now. There is currently less volatility, which would make investing easier, and more reliable despite the current economic and financial constraints. This is the type of environment which is ripe for the largest Cryptocurrency profits.
During the last 24 hours, there were three major price movements to watch out for. Firstly, we saw the Dash move up in the third hour, then in the second and finally in the first hour of the fourth hour, as the larger network began to settle into its anchor position. This trend is likely to continue during the evening hours, and we may see further price movements as it enters a consolidation phase. Next we have eToro which fell by the end of the second day, and then climbed back over the weekend. This particular altcoin has now passed the 50 percent daily reach, which is quite impressive given that it was just released over the summer.
Based on this rough idea, the biggest change in Cryptocurrency prices over the last 24 hours was the inclusion of Bancor, which has gained a significant following during the last couple of weeks. This professional trading platform has quickly established itself as the leading edge of Cryptocurrency trading, and is now the most popular marketplace available. If you are looking for places to invest, the top three currencies to watch out for right now are Dash, Bancor, and eToro. With the recent news involving Bancor’s business model, and their potential partnership with one of the world’s top banks, it is well worth your time to check out this new pairing.