Finance

Cryptocurrency and the Answers to the Right Trade

Many just know the Bitcoin, but are there any more cryptocurrencies? As mentioned above, there are many cryptocurrencies – one more relevant and better known, the other unknown, or even about to die out. There are many approaches to founding and operating a currency, which is why developers often implement different approaches. However, you will need to know How To Trade Cryptocurrencies.

In addition to the Bitcoin known currencies, such as Litecoin, Montero, Ethereum or Dash known all these currencies are already known and have a higher status in the scene. However, there are also some unknown but rapidly growing currencies, such as Ethereum Classic (ETC) or the Guilder (NLG). When reading the names, it is noticeable that Ethereum Classic resembles the Ethereum, but there are two different currencies, which have very similar approaches, but are independent of each other.

But what about now?

Especially in 2017 Ethereum Classic will be interesting. It has not happened that the currency has gone extinct and the ETC has also grown by 380% between February and May. Especially in March, the price rose from $ 2.30 to $ 6.80. The situation has then stabilized at just under $ 6, but it still looks like an uptrend. For example, if you have invested 1000 $ and have received about 435 ETC, they were worth 2960 $ at the highest level of 6.80 $. This is a leap that can be seen. However, Ethereum also made a significant increase of more than 600% in the last three months during this period (February to May 2017). And there it is even more interesting: From 9, 84$ to 73, 67$. For $ 1000 you have just over 100 ETH get – with the price of $ 73.67 would get you then 7367 $ out if you sell them.

Why does the value of a cryptocurrency increase?

This is not always easy to say, as there are usually other reasons than the stock market or “normal” currencies, where political or business decisions in particular have an impact on the value of a stock. Even if it is not quite right, cryptocurrencies will make a huge leap if, for example, the currency is accepted on a Dark net platform. This was the case with Ethereum in September 2016, for example, and since then there has been no stopping it.

Of course, there are also political triggers that affect a currency. For example, Bruit had been prophesied by many as a case of Bitcoin, but that did not happen, for example, quite the contrary. However, what had a political influence was the definition of refugee policy in Europe. Since the countries here have closed their borders and set up barriers or certain countries have absorbed many, the value of many currencies has increased. Now you can speculate why that is so and why the policy has something to do with it.