Recent peaks and drops in prices of Bitcoin and other major cryptocurrencies have created a wealth of opportunity for money making via intelligent trading. No matter how volatile the market, trading opportunities exist for buying and selling cryptocurrencies or trading as CFDs, paired against the dollar generally. On the whole, trading cryptocurrencies on market platforms offers greater opportunity for money making by tracking upwards and downwards prices.
Bitcoin prices have proved extremely volatile so far in 2018, but have not yet reached their October 2017 peaks. On 15th February 2018, Bitcoin was trading just over $9,720 and failed to break through the $10,000 barrier. Many of the cryptocurrencies are presently trading sideways and experiencing bullish highs but then dropping to higher lows. On the whole, the cryptocurrency trading market is still experiencing a downward trend.
Some Cryptocurrencies to watch in 2018
Some of the cryptocurrencies that are worth watching through 2018 include:
Litecoin is a standalone and unique currency which is based on the Bitcoin blockchain network, with a couple of notable differences. Litecoin has a shorter block period and more total allowable coins. It also features a different interface and hashing algorithm. These differences make it quicker and easier to trade. Pundits believe Litecoin (LTC) should be trading around $1,000 or higher and it could well achieve this through 2018. On 15th February 2018, Litecoin was trading at almost $225.
Dash is a peer to peer cryptocurrency which utilises a two-tier network. It has also been known as XCoin and Dark Coin, prior to changing its name to Dash. January 2018 prices for Dash fluctuated between $790 and $820, while at 15th February 2018 it was priced at just over $675. It’s currently rumoured that Dash will shortly be featured on CoinBase leading to potential prices of up to $1,300, so it’s certainly a cryptocurrency to watch carefully in 2018.
Bitcoin Cash (BCH) is another cryptocurrency to watch in 2018. It was established in August 2017 by miners who were in disagreement with the Bitcoin community. In many ways it’s quite similar to Bitcoin but incorporates an increased block size. It’s a quick cryptocurrency which is reliable to use and its price peaked at over $4,350 in December last year. It’s the fourth largest cryptocurrency currently on the market and is currently trading under $1,300.
Some of the other cryptocurrencies to watch in 2018 include Ripple and ECoin (ECN). ECoin has seen surges of more than 4,000% through 2018 so far, although onlookers suggest this is a result of push and dump trading and advise steering clear of the cryptocurrency. Ripple has established ongoing links with financial providers via its Ripplenet service and prices have surged as a result. The Ripplenet service is backed by financial providers such as American Express and the Bank of England and is establishing record speeds for financial transfers which eclipse available services.
Trading cryptocurrencies provides every trader with opportunities to benefit from the upwards peaks and downwards troughs of the currency, whether traded direct on financial platforms or via CFD pairs. The cryptocurrency market is extremely volatile so it’s wise to take all precautions and care when trading these new currencies; however, they do offer real opportunity for financial gain. Cryptocurrencies don’t display the type of stability associated with other currencies, so it’s important to conduct as much research as possible into the currencies prior to trading with any degree of safety margin. Traders and investors will appreciate the benefits of being able to trade via CFDs like Olsson Capital and presently margin requirements for trades of this nature are high.