Cryptocurrencies – The rise and fall?
There can be no doubt about the meteoric rise in interest of cryptocurrencies and in particular BitCoin and its potential effect on the Finacial Markets. However let’s not forget about the others that are in existence.
Whilst Traders4Traders do not trade in Cyrptocurrencies as there appears to be little intinsic value and very reminisent of the .com boom, it would be careless to completely ignore the effect it is having.
With this in mind we have created a Top 10 Cryptocurrencies list for those that wish to monitor the BitCoin competition.
Note: Traders4Traders do not recommend or allow trading of cryptocurrencies to our traders or in our T4TCapital Funded Trading Programme.
So it’s not just about BitCoin, our top 10 cyrptocurrencies list identifies many others you have probably never heard of. Our list is provided by CoinMarketCap, where you will discover over a 1000! other cryptocurrencies and charts to monitor which ones are competeing with BitCoin.
Remember as cyrptocurrencies are controlled and managed by blockchain there is a limited supply of each cryptocurrency so the market is purely controlled by Supply and Demand.
Buyer Beware: Trading in cryptocurrencies is similar to a casino, there is extreme volatility and can be extremely erratic. Recent selloffs running up to Christmas saw a 13% drop in just 24 hours of BitCoin amongst other currencies.
If you have any questions about our article then please leave your comments below.