Since then the crypto currency prices has hit record highs several times as the market capitalization now stands at around $84 Billion. We may see some new record highs this year and moving forward. Blockchain technology is the #1 tech trend this year, and the cryptocurrency market will play a key role in this and other breakthroughs. Crypto currencies are here to stay.
The price of cryptocurrencies is often measured on bitcoin. This is the first cryptocurrency ever created and the market capitalization of bitcoin today is in the billions, making it a large and growing market. Bitcoin’s price is expected to grow to $20,000 in 2017. To put that in perspective, the price of bitcoin was $97 at the beginning of 2017, and over $10,000 a few weeks ago. This is an enormous increase in value. The other main cryptocurrency by market capitalization is Ethereum, which is an alternative to Bitcoin.
There are a lot of other cryptocurrencies out there that are gaining market share. You can track market cap on Coinmarketcap.com, which tracks the exchanges that are a part of the over-the-counter market. Over the counter is something a little different than the over-the-counter derivatives market, which we will discuss in a future article.
Bitcoin is a cryptocurrency, which means the concept is not backed by a government. They are released and managed by the computer network, and released in a process that is fully decentralized. That means that the entire network is using the coin’s software. The blockchain technology is the backbone of bitcoin. The blockchain has two distinct parts, the public ledger, which anyone can see, and the private ledger, which is only available to the person who owns the coin, and is maintained by the user’s private key. The blockchain is a growing ledger of transactions that are created using digital codes.
This ledger is transparent and in real time. The public blockchain is visible on bitcoin’s website: Blockchain.info. The public blockchain is the only place where there is a complete list of transactions that have occurred in bitcoin since it started. The blockchain is a decentralized network where there is no central database or government controlling it, and this makes the system secure.
It is difficult to hack the blockchain, because it is a decentralized network. The currency is completely independent of any government or central institutions. The value of Bitcoin started to rise when a user of bitcoin discovered a flaw in the blockchain.