Our end of week recap on top cryptocurrencies
The year has flown by and we’re already half way through March. If you haven’t read our latest Report and Analysis for the month of February you’ll definitely want to check it out here, we’ve shared some very exciting news for our Cryptopay customers.
Here’s a quick overview of our top 3 cryptocurrencies traded on Cryptopay and how the month has been for them.
After a frosty winter and end to the year, Bitcoin is breaking out of its hibernation. Bitcoin has attracted somewhat of a celeb status in 2019, being a hot topic for almost everyone, including Twitter’s CEO. After a year of trending downwards, Bitcoin hit a bottom early last month of $3600 and is slowly trending up.
The goal for Bitcoin and keen experts has always been to break $4k and sustainably keep above it. This is the “psychological barrier”. Many major organisations are looking to create their own digital currencies and wallets including Samsung, Facebook, JP Morgan and Telegram. However, many experts believe such new advancements in the cryptocurrency world will not have a negative affect on Bitcoin, some even suggest it could add more spotlight to the Bitcoin simply for being the first, meaning many new consumers will inevitably check out Bitcoin as a reference.
After a wild ride up, Ripple is slightly down for the past month but further interest in the coin could be on the horizon. Recent rumors of exchange company, Coinbase offering trading services for Ripple have surfaced this week; presumably in a bid to tame the controversy surrounding their Neutrino and ex Hacking Team employees.
Ripple’s focus is on greater exposure and to obtain that, liquidity and validation from major institutions can prove helpful. Ripple Inc have show a commitment to promoting crypto in collaboration with household names such as IBM and Microsoft which will be very interesting to see develop and grow in time.
Litecoin has gone up 40% in price in the past month, going from $40 to $56, continuing its rise after hitting a low of $23 in December last year.
There have been a number of reasons for this occurring; chief among them is the upcoming halving in August, which will artificially limit the number of coins being created. Globally, Litecoin are leaving their mark and putting themselves on the map such as making efforts to cross to team up with major companies outside of the cryptocurrency and even finance world which is both a bold move and exposes the currency in a mainstream capacity.
Which cryptocurrency have you been watching closely this month? Comment below and let us know.
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