Scanning through some cryptocurrency data, Ethereum-Classic (ETC.CR), has recently been spotted touching the $11.33 mark with a traded volume of 17538322. Crypto market watchers may be looking to see if the coin will gather some steam in the near future.
At this point in time, it is probably hard to find someone who has not at least heard about bitcoin. Since the release of the whitepaper by Satoshi Nakamoto, whose real identity is still unknown, bitcoin has seen a meteoric rise in value. Although the price has cooled over the last few months, the debate about it has not. Many investors may be wondering what to do about bitcoin and other cryptocurrencies. Many individuals have been quick to label the cryptocurrency market as a bubble or an outright scam. Even though the verdict may still be out on those ideas, the blockchain technology behind bitcoin and many other cryptos seems to be here to stay.
Traditional transaction systems have used centralized databases that are typically maintained by third parties such as banks or governments. Cryptocurrency transactions are conducted on a decentralized ledger system. Using cryptography technology, these decentralized systems allow the information to be public and stored by individuals on devices or in the cloud. This new technology has created quite a stir in the financial industry, and in many other industries all over the world. People will be watching to see if the number of businesses accepting cryptocurrency continues to expand into the future. If some of the major players start accepting crypto, it could be a complete game changer.
As investors start to study the cryptocurrency market and contemplate crypto portfolio decisions, they may have to carefully weigh all the risks. There may be too much current volatility in the market to make any big moves, but following all the developments may help make the research a bit easier when the time comes. The rise of bitcoin and a few other prominent digital coins have caught the eye of investors and consumers alike. Nobody can say for sure how many, if any, will make their way into the mainstream and become everyday payment options. As the debate continues, investors will be watching to see which way the crypto market momentum swings in the coming weeks and months.