It seems like the new year started well for cryptocurrencies – especially the majority of altcoins that have been trading higher again in the morning’s Asian trading session. Most of the altcoins have recorded a 25% growth over the past 24 hours while Bitcoin has been slow to recover from the 40% slide in December 2017 and has lost a lot to its altcoin rivals.
The market capacity shows that in detail. Bitcoin has fallen from 50% to somewhere below 37% – something that has been a low recorded in June 2017. The peak was reached somewhere around December 17th when Bitcoin’s price was near the $20,000 mark but has fallen to $12,000 and recovered to $15,000 where it currently trades. Presently, it seems like Bitcoin hasn’t great potential to grow and that crypto traders and holders are channeling their other altcoin funds in order to spike growth.
The altcoins that are leading the market include Ripple and Ethereum, both digital currencies that measure big growth in 2018. While Ethereum came from around $700 in 2017 to around $900 presently, Ripple has beat Ethereum to the second place in terms of market cap and is now sitting at $2.63, coming from its dollar-price in 2017.
Things are looking good for Bitcoin Cash too as the currency is about to hit the $3,000 mark. NExt up is Cardano (ADA), another surprise with a growth of 30% in only one day and Litecoin who has been sitting around the $250 mark.
There are many other virtual currencies that has been gaining a larger slice of the crypto pie. Still, the question is simple – do they have the potential to dethrone Bitcoin over the next couple of months? Or is the new jump in price of Bitcoin announcing a bright future?
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