Bitcoin’s turbulent ride in the past few months has gotten a huge amount of attention. But over the past two weeks, some of its crypto alternatives, like Ethereum, Litecoin and Bitcoin Cash, have also qualified their way into the spotlight.
What is crypto currency?
A crypto currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
Examples of Crypto Currencies:
- Ethereum (ETH)
- Zcash (ZEC)
- Ripple (XRP)
- Monero (XMR)
- Lite Coin (LTC)
Prices and Value History of Bitcoin
The following chart shows a short history of Bitcoin of over the past 1 and half year. It shows the wild rise in it’s worth.
|5-12 January 2017||$750–$920|
|2-3 March 2017||$1,290+|
|12 September 2017||$2,900|
|13 October 2017||$5,600|
|21 October 2017||$6,180|
|6 November 2017||$7,300|
|17-20 November 2017||$7,600-8,100|
|15 December 2017||17,900|
The reason in such a massive rise is that there are increasing number of restaurants, brands and stores that have started accepting Crypto Currency and Bitcoin is the KING right now.
January 2017, Japan Broadcasting Corporation reported the number of online stores accepting Bitcoin in Japan had increased 4.6 times over the past year. BitPay CEO Stephen Pair declared the company’s transaction rate grew 3 times from January 2016 to February 2017, and explained usage of Bitcoin is growing in B2B supply chain payments.
– Ethereum (ETH)
Started in 2015, it had negligible worth but as the scope of crypto-currencies has risen, it had also gained much importance. A minor recall of December 2016, 1 Ethereum was equivalent to 7.2 USD but now on 23rd December, 2017, 1 Ethereum is worth 730 USD. In one year, the value rose up to 100 times. It’s still easy to buy as its affordable than Bitcoin.
– Litecoin (LTH)
Stated in late 2013, this was also not famous at all, the supply was also not much. From October’15 to April’17, the price has floated between 2.5 and 4.5 USD per coin. Now it’s worth 300 USD. A 100 times rise in its worth in 7 months.
- Ripple briefly retook its place as the third-largest cryptocurrency, with a market value of $47 billion, a milestone it reached earlier this month.
- The digital currency reached the key psychological $1 mark for the first time and hit an all-time high of $1.38 on 21st December.