In the future, crypto currencies will offer a better Investment option compared to investments such as stocks, mutual funds, and forex trading. The prices of crypto currencies are expected to rise as the market's momentum continues to grow. Most cryptocurrencies will trade above their introductory prices compared to investments such as stocks.
Cryptocurrencies are on the rise
The cryptocurrency market is expected to grow. Bitcoin was the first [VIDEO] cryptocurrency to be introduced. January 2009 marked the beginning of a new dawn for cryptocurrencies when Bitcoin was introduced.
Since then more than 1,000 cryptocurrencies have been introduced. Their numbers are expected to rise. Coinmarketcap.com tracks new crypto currencies that have just been introduced. According to the website, 25 cryptocurrencies were added in the last one week. An average of 4 such currencies is added every day. Recently launched cryptocurrencies according to the website are MyBit Token, Krypstal, Growers International, YOYOW and Smoke. Most new crypto currencies have an introductory price that is below $1.
Cryptocurrencies are better than stocks
Cryptocurrencies are better than stocks because their prices have risen in the past. Bitcoins price a year ago was $578 while three months ago its value was $1,933.
Bitcoin recently surpassed the $4,000 mark. The price of Ethereum a year ago was $10. Its price was $116 three months ago. Its current price of $294 still offers a good investment option for cryptocurrency speculators. Another cryptocurrency that has the capability of providing a good return on investment is Bitcoin Cash. Its price has skyrocketed to $795 after it was introduced on August 1st at a cost of $370.
Cryptocurrencies are better than stocks since supply and demand will determine their prices. The prices of stocks, on the other hand, will be determined by supply, demand and how much profits [VIDEO] a company will make. Stock prices will also be determined by the performance of the economy.
The future of cryptocurrencies
Bitcoin will be the dominant player [VIDEO] in this market.
It commands 46 percent of market capitalization followed by Ethereum at 19 percent and Ripple at 14 percent. Other cryptocurrencies have a Market Share that is below 1 percent. It will thus be hard for a new cryptocurrency to gain a significant market share since there are dominant players in this industry plus there are multiple cryptocurrencies that have already been created.
