After a year-long bear market within the blockchain/cryptocurrency markets, it seems that things are beginning to make some moves. With weak-hands, regulations (positive and negative) and the huge reduction of scam ICOs appearing weekly, it seems that cryptocurrencies (and their companies/developers) have finally had the time to do what they needed to do – create working products.
Although those who invested in “Crypto Rush” of December 2017 and the fact that almost a year on they are still down – dramatically – on their investment, are obviously not too pleased with the current crypto market. This time of price consolidation has been an important step for cryptocurrencies in general.
Bitcoin Cash (BCH) has seen over 20% increase in its value of the last twenty-four hours and for the first time its market capitalization has been triple that of LiteCoin (LTC). The reason for the sudden price jump of Bitcoin Cash is due to both Binance and Coinbase announcing that they will support the hard fork that will be occurring on the 15th of November this year.
The Bitcoin Cash (BCH) vs Bitcoin Core (BTC) community have been arguing over which one is the “true Bitcoin” since the BCH fork from BTC last August. However, in terms of adoption the Bitcoin Cash community seem to be moving further ahead whilst the Bitcoin Core community are focusing on development – so it will be interesting to see the following few months.
With a solid development team and a working project – Stellar Lumens (XLM) is going against the grain in this market. Throughout another volatile week in the crypto market, Stellar has continued in an upward trend – and with good reason. They deliver on time, they have a product that will be needed by everyone involved (and possibly not involved) in crypto as they intend to allow transactions to convert between crypto/crypto and crypto/fiat. XLM has also risen 15% in value since Wednesday.
With most people scared away from such a volatile market, those who remain investing in the markets are those who have a firm understanding of the projects and what they will be worth in the future. Hopefully, this will allow for more organic growth in the coming month which will prevent extreme crashes as were seen at the beginning of 2018.
Hektor E J
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