According to coinmarketcap.com, a website that tracks the market activity of cryptocurrencies, there are over 800 cryptocurrencies in the cryptocurrency market. A speculator of cryptocurrencies needs to choose the right cryptocurrency when making a purchase. The best cryptocurrency to buy is one that is highly ranked regarding market capitalization. The top five cryptocurrencies with high-market capitalization are Bitcoin, Ethereum, Ripple, Bitcoin Cash, and NEO. Analysis of these currencies is vital before one makes a purchase decision. Below is the Price Analysis of the top five cryptocurrencies by market capitalization.
Bitcoin
Bitcoin is an expensive cryptocurrency. Potential buyers of Bitcoin with little cash will get fewer coins when buying this cryptocurrency compared to those who prefer to buy currencies such as Ripple. Currently, the cost of Bitcoin has risen above the $4,000 mark. Bitcoin's price has risen in the past and is expected to continue rising. In the past one year, the cost of Bitcoin has increased by 582 percent. In the past three months, its cost has risen by 131 percent, while in the past one month, its cost has increased by 70 percent.
Ethereum
Ethereum's price has skyrocketed in the past year. Its cost has increased by 2,572 percent within a year. In the past three months, its cost has increased by 234 percent, while in the past one month, its cost has risen by 44 percent.
Ripple
Ripple is the cheapest cryptocurrency with high-market capitalization. Its currency price of $0.1 is a good offer for cash-strapped cryptocurrency buyers. The cost of Ripple has risen by 2,685 percent in the past one year. Its price has however experienced a drop in the last three months. In the past three months, its cost dropped by 19 percent, while in the last one month, it has experienced a drop of 13 percent.
Bitcoin Cash
Bitcoin Cash is a new entrant in the cryptocurrency market. It was developed to act as a cheaper Bitcoin alternative. Its introductory price on August 1 this year was $363. Its price has dropped by 16 percent since its introduction.
NEO
Just like Ethereum, NEO's price has skyrocketed in the past one year. In the past one year, its value has increased by 27,300 percent.
In three month, it has risen by 10,300 percent, while in the past one month, its value has increased by 712 percent.
Conclusion
Bitcoin and NEO seem to be a sound investment since their values have risen by more than 100 percent in the last one month. Although Ripple is a cheap cryptocurrency, its price has dropped in the past three months.
