On December 22, 2017 the cryptocurrency market lost in excess of $200 billion to just over $420 billion while Bitcoin (BTC) traded below $11,000 as sellers hammered the market. Now two weeks later the cryptocurrency market has hit a new all-time high in excess of $700 billion, driven primarily by surging altcoins with Ripple (XRP) leading the charge.
Other topics covered in this week’s Bitcoin and Cryptocurrency webinar include –
- Bitcoin has recovered but still trades 20% below its peak. Has the market seemingly unquenchable appetite for altcoins been fueled by sellers of the market giant?
- While Bitcoin has been boosted by ‘first mover’ advantage, other coins including Ethereum (ETH), Ripple (XRP) and Stellar (XLM) have their own unique selling points and should be followed and researched closely.
- Switching between BTC and a variety of altcoins is expected to continue with traders looking for the next triple-digit gain token.
- Some cryptocurrency exchanges are still being hit by trading outages and time delays as market volume and turnover booms.
If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.
--- Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
Follow Nick on Twitter @nickcawley1
