Many investors since the start of this year but also during the last one were very surprised of Ripple. Ripple had a few price swings last year compared to Bitcoin and at the start of this month it reached its peak at $3.84 and then went down do below $1.The movement in the price is said to be blamed on the centralized system that Ripple has. We saw that China and South Korea are really showing concerns about this which led to the strong price movements. Ripple, however, was created so it can replace the bank role in transferring payments around the world in just a few seconds. This is allowed through the centralized system Ripple.
The Chinese government reported that they want to block every cryptocurrency platforms that allow centralized trading. Although Ripple was exchanged widely in South Korea, now it turns out the be a threat to its practical use so South Korea also banned centralized trading and this can have a great impact on the price of Ripple. Bitcoin, however, was released in 2009 but it gained mainstream popularity last year.
The reasons why Bitcoin is so volatile can be long numbered but mainly it is still a relatively new technology and is hard to understand so this plays a huge role in the price volatility of Bitcoin. Bitcoin also has a much higher price than Ripple so users often get scared when investing or before they do and that is why is very difficult to determine which one is more volatile. They are both two different things and when we see price movements in Bitcoin we also see it in the other cryptocurrencies.
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