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Again, so far, so good. Previously, market analysts viewed the event as the second coming. With stability at these lofty prices established, BTC may go onto make surprisingly robust gains. Presently the number two to bitcoin, ethereum represents the top echelon of alternative crypto assets, or altcoins for short. Fundamentally, bitcoin and the blockchain innovation that it brought to the mainstream was a proof of concept. For the first time, a decentralized market of tradable assets became a reality.
However, bitcoin had a number of opportunities for improvement. One area where the original blockchain fell short was its focus; bitcoin is narrowly defined as a peer-to-peer payment application. However, the developers behind ethereum introduced the concept of smart contracts, or contracts that can be completed without the need for a human and therefore fallible intermediary.
Beyond the introduction of bitcoin, ethereum arguably represents the most groundbreaking development in the crypto market. Better yet, the upside potential for ETH is significant. Between August through September , ethereum prices rose via a step-up pattern. Later, it entered a long consolidation phase as bulls and bears fought for control. If recent price action is anything to go by, the optimists are going to win this battle.
After all, this concept is what allows virtual currencies to break free from the hegemony of the global banking system. Logically, you can expect some controversy over ripple. Because XRP is tied to a centralized institution, these altcoins are not minable; instead, their supply is managed by human operators. Right there, this takes away from the street cred associated with crypto assets. At the same time, ripple offers a viable channel to replace cumbersome, inconvenient and expensive wire transfers.
With litecoin, the emphasis was on transactions of smaller and more practical denominations. This concept increased in demand as bitcoin started moving dramatically higher. Further, because bitcoin was more proof of concept than anything, even the transactions within the underlying blockchain became time-consuming.
Litecoin was lightning quick in comparison, drawing proponents because of its everyday conveniences. Plus, each unit of LTC was much cheaper. As you know, once the crypto market became fleshed out, LTC shed some of its dominant presence. Rather, it appears that litecoin is in the middle of forging a bullish pennant pattern.
That would make LTC an ideal play for those who are new to virtual currencies. Although the introduction of bitcoin forever changed the course of finance and investing, the inconveniences of BTC began piling up as the market scaled up. Most conspicuously, the lack of consensus between the debating parties resulted in a new cryptocurrency, bitcoin cash, via a process called a hard fork.
But for our purposes, bitcoin cash is essentially an offshoot of the original bitcoin blockchain. Further, a risk exists that most proponents could adopt this view, turning BCH into a zombie crypto. But in my opinion, bitcoin cash can hitch a ride with the other virtual currencies bolstered by name recognition. Instead, they only care about making a quick buck. However, Chainlink is an interesting case because it solves an infrastructural challenge with mainstream blockchain adoption.
As such, blockchains are isolated networks very akin to a computer with no Internet connection. Will the endeavor be successful? Certainly, a failure to deliver could substantially impact LINK. However, I really like the bullish pennant formation that is presently being printed on the charts. As a speculative crypto wager, you may want to take a second look at LINK. Out of the various altcoins available, DASH may be one of the most psychologically significant.
As everyone knows, getting a single unit of bitcoin is now limited to only powerbrokers. The point is, DASH offers a viable middle ground. The price has also moved above the day and day moving averages. As such, there is a possibility that the pair will have a major bullish breakout. Article source. The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider.
Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.
Skip to main content. Fantom price prediction: FTM is set to skyrocket if this happens. Fantom growth Fantom is a fast-growing blockchain infrastructure platform that enables developers to build all types of decentralized applications DAPPs. Fantom price prediction The four-hour chart shows that the FTM price has been in a strong rebound in the past few days. Publication date:.