After another busy day of trading, it is interesting to make a price comparison between the three biggest cryptocurrencies. Bitcoin has grabbed all the headlines over the last few years, but increasingly both Ethereum and Ripple are beginning to garner attention. Underlining the potential of Ethereum is the fact that it bitcoin currency value comparison once more reached all-time highs over the last 24 hours.
Admittedly, there was then a pull back in the value of Ethereum, with the cryptocurrency ultimately falling into negative territory.
The rally in Ethereum indicates that price comparison in the crypto niche is becoming increasingly unpredictable. Price comparison and prediction in this market is always challenging, as a multitude of factors impact on the Bitcoin, Ethereum and Ripple price.
For example, recent falls in the value of these currencies has been attributed to an overnight announcement that the Australian Tax Office is establishing a task force with the intention bitcoin currency value comparison monitoring cryptocurrency transactions. It is also notable that CoinMarketCap. This is particularly significant, as the site is considered the most important for cryptocurrency pricing and price comparison bitcoin currency value comparison.
A major fall followed in this particular news, and although this has largely passed, it is still probably having some bitcoin currency value comparison on the markets and trading conditions. The market capitalization of Bitcoin has slumped over 7 percent in the last twenty four hours alone, with the correction in the current price representing a 30 percent fall from record highs set in December last year.
This 40 percent recession in the Ripple price is somewhat predictable, though, considering the embryonic nature of the cryptocurrency. It seems that decisions related to the South Korean markets have impacted bitcoin currency value comparison severely on the Ripple price, with the chief cryptographer of the currency, David Schwartz, blaming panic selling on the sudden price fall.
While price comparison between Ripple and either Bitcoin or Ethereum is almost inappropriate considering the gulf in value, the long-term potential of Ripple is believed to be massive. Ripple has succeeded where Bitcoin in particular has failed, by attracting the financial hierarchy to say positive things about the system involved in its blockchain.
And this is expected to result in a big upside for the cryptocurrency in the near future, making price comparison between Ripple and the other platforms more relevant.
Whether or not Ripple can reach the highs of Bitcoin is debatable, bitcoin currency value comparison price comparison between these two platforms is more feasible. Ethereum is closing on at the incredible value of Bitcoin, although the market leader is still worth over 10 times the value of Ethereum. While it has been a challenging time for the biggest cryptocurrencies due to market conditions, it is believed that this could be a temporary problem.
Greg Dwyer, head of business development at cryptocurrency derivatives exchange BitMex, suggest that excluding the South Korean markets has led to a complete misvaluation of the cryptocurrency niche. YouTube Video Screenshot Ethereum price Underlining the potential of Ethereum is the fact that it has once more reached all-time highs over the last 24 hours. Australian issues Price comparison and prediction in this market is always challenging, as a multitude of factors impact on the Bitcoin, Ethereum and Ripple price.
Challenging time While it has been a challenging time for the biggest cryptocurrencies due to bitcoin currency value comparison conditions, it is believed that this could be a temporary problem. So the future of price comparison in the crypto sector could bitcoin currency value comparison be a bullish proposition.
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