The cryptocurrency market has taken a great deal of downside in the previous week. The trading volume of many budding cryptocurrencies has decreased drastically. The decreased trading volume has directly affected the market capital of the respective cryptocurrency. The market fluctuations can often cause your investment to fail and even lose it. These factors have gotten many investors anxious regarding the sustainability of their invested cryptocurrency.
Many investors who are active in the field of crypto trading for a long time have certain techniques that can help them evaluate the digital currency market. One such technique that is used frequently is the technical analysis that has been proven effective. If you are looking to save your investment then you can use such techniques to evaluate the market and invest in the worthy crypto coin. This will secure your investment even when the market fluctuates. Here are some factors that you need to consider to secure your investments from market fluctuations.
Ethereum cryptocurrency is one of the top ten cryptocurrencies on the planet. In fact, Ethereum ranks on number two in the list of top cryptocurrencies. The factor that has helped Ethereum to succeed is the technology used to develop the core of Ethereum. The block time of Ethereum is comparatively less than its predecessor, the Bitcoin. The Ethereum is also a development platform where developers can develop decentralized applications. Unlike Bitcoin, Ethereum is a token which you receive when you develop certain programs on the platform.
Apart from the technological point of view, Ethereum is also recognized as profitable by many investors. The current market capital of Ethereum is $68 billion USD which is one more reason it ranks second on the top ten cryptocurrencies list. There are many investors who invest in Ethereum in hopes of doubling their investment. And they are not wrong, Ethereum investment is considered as a profitable business.
Litecoin is a peer-to-peer cryptocurrency which is open-source and decentralized that gives Litecoin complete authority. After the creation of Litecoin it was considered that Litecoin was the clone of Bitcoin but as a matter of fact, Litecoin was completely different than Bitcoin. Litecoin uses different algorithms and different block time than Bitcoin. Thus the general speculation that Bitcoin and Litecoin are same is false.
Litecoin was created in 2011 after it forked an updated version of Bitcoin client by decreasing the block time of Litecoin. The algorithm used for hashing in Litecoin was also different than Bitcoin. Where Bitcoin used SHA-256 algorithm, Litecoin used Scrypt algorithm along with slightly modified GUI (Graphic User Interface). After the introduction of Litecoin with these upgrades, it experienced a gigantic growth in 2013. It was then soon in May 2017 recognized in the top ten cryptocurrencies on the planet ranking on number six.
Litecoin since its beginning had the potential to grow and it is still growing gradually. The data of Litecoin growth rate from 15 April 2018 to 15 May 2018 is staggering. The current market capital of Litecoin is $7 billion USD which has got many investors’ attention. Even though many investors are investing in Litecoin, there are many investors who believe that the success of Litecoin is short-lived. Here are some facts and reasons that will justify the benefits of buying Litecoin.
The cryptocurrency investment industry has grown rapidly in the past few years. The industry of cryptocurrency has seen many cryptocurrencies that have revolutionized the way the business is conducted. The investors have become vigilant regarding the choice that they make regarding the cryptocurrency investment. Each cryptocurrency is different and they all use different technologies to achieve the same result.
However, many budding investors find it difficult to find a cryptocurrency to invest in. The different technologies and methods confuse these investors. There are many cryptocurrencies in the market that it is hard to speculate the ideal cryptocurrency that will satisfy the investment with the profit and that also covers the factors such as market value and capitalization. Such decisions should not be made based on false rumours and popular beliefs. Here are some factors and common market beliefs that these investors should understand that will help them select the ideal cryptocurrencies which are worth investing in.
The Blockchain technology is recognized as one of the full proof database storage facility in the world. The fact that the data cannot be duplicated or corrupted makes it an effective option for many transaction-based software and digital currencies. Many major players of cryptocurrencies have adapted this technology and have integrated it into their systems. It has been around for almost ten years after it was founded by the first cryptocurrency, the Bitcoin. The Bitcoin gives its major credit for business success to Blockchain as it has made Bitcoin trustworthy even though it was new to the market.
The Blockchain follows a long chain of computer users that keeps safe the same data within so that the data cannot be tampered with. The introduction of Blockchain was initially and majorly in the field of currency and the transaction field. But as it was further developed by developers, it opened new gates to many sectors such as social media, military application, education, healthcare, etc. Here is a brief view of what is Blockchain and where has it reached after ten years since its invention.