If you’re not already investing in P2P currency exchanges, you definitely want to read up on it. Bitcoin’s rise in popularity in 2009 showed people that there is a trading hub with comparable reliability to the stock markets. The value of the Bitcoin rose and fell back down for a while, but it’s been steadily climbing as of late.
Like any currency, the value of P2P currencies is largely affected by the value of government-regulated currencies, and as you may know, the US dollar has been weak. Unlike the dollar, however, Bitcoin has steadily rising.
In fact, Bitcoin just hit an all-time high at ~2,190/coin. This faith could be due in part to Japan’s recent decision to allow Bitcoin as a legal payment method in the country. Peach, a Japanese airline now accepts payments in Bitcoin; and Russia’s largest online retailer, Ulmart, has announced that they will begin exploring it in 2018.
In 2017 so far, Bitcoin has gained 125% of its value. Assuming it stays strong, Bitcoin will finish the year as the top-performing currency for the seventh year of its 8 year life.
Ethereum is the relative newcomer in the field. Its release in 2015 hailed it as the first programmable P2P currency. Earlier this year, Ethereum started climbing. At the beginning of May, it was hovering right around $80/coin. Just 3 weeks later, it’s at about $180 right now. People like Ethereum and its ability to automatically exchange when certain parameters are met. New investors like Toyota and Merck have just joined in, and things keep looking up. Some experts even think that ETH can surpass $500 by the end of the year. That’s a tall order, but with this new boom in crypto-currencies, anything is possible.
Now is an interesting time to buy Ethereum. It’s certainly growing, but in such a competitive market, it could level out, or even crash at any time. As for Bitcoin at an all-time high, it’s probably time to sell. Of course, it could continue to rise, but as we’ve seen with Bitcoin before, it’ll level out before long.
If you haven’t been following LiteCoin, this might be your window. LTC has the 5th biggest share in the crypto-currency market. After blowing up at the end of 2013, Litecoin almost disappeared, sitting around $2-3, until recently. In March, it made a comeback, and since then, its been a rollercoaster bouncing around the mid 20s. If you have faith in LTC like some people, you might want to buy before it jumps again. Some, however, say that this cheap cyber-currency is already pushing its limits. All e-currencies have been on the rise recently, so do your research and get in on this while you can.