Is Bitcoin Heading Towards $5000 In Value?
There is one aspect of investing and trading Bitcoin that you need to be fully aware of, and that is its value is going to be volatile no matter when you choose to invest in that cryptocurrency.
Currently it would appear and is very true to say that Bitcoin is going on something of a downward trend regarding its value and having just taken a quick look over several digital currency exchanges, its value at the time of compiling this news story is $6,659.62.
Many speculators are convinced this downward trend in value is not going to stop any time soon, and many of them are convinced that it will soon be hanging around the $5000 mark, whether it will of course does remain to be seen.
However, even if it does tank in value, what I have noticed is that most other cryptocurrencies do tend to follow suit, and as such when Bitcoin does drop in value many other cryptocurrencies do too.
The only ones that are likely to show any increase in value when Bitcoin does drop in value are some pf the much more obscure and unheard-of coins and tokens that have recently been launched by an initial coin offering or token generation event.
Even if Bitcoin does hit the $5000 mark, it is still going to be the most utilized cryptocurrency and the one that has the highest market capital, which for reference, even at its current value of $6659.62 that market capital is a huge $112,937,165,770.
Ethereum May Now be Worth Investing In
As the value of Bitcoin is tanking, that does of course mean, as mentioned up above that the value of the other major cryptocurrencies is dropping too, and now may also be the time to consider investing in Ethereum if you are looking for a low-cost alternative to Bitcoin.
A few facts and figures regarding Ethereum that may be of interest to you is that currently it is the second largest cryptocurrency by its market value, which for reference is $36,699,917,553.
As the value of Ethereum has been dropping quite significantly recently and certainly over the last week or so, its value per single full unit of Ether is some $372.13, and the trading volume over the last 24-hour period has bene huge at some $1,257,050,000.
The circulating supply of Ethereum is 98,622,023 ETH but it is also worth noting that the highest percentage of brand new coins and tokens launched via initial coin offerings and token generation events are launched on the Ethereum blockchain.
So if you are prepared to invest in that cryptocurrency you are also going to be able to freely invest in any of the other coins and token that are being launched, or at least a good percentage of them, so do keep that in mind as that may be something you are also interested in doing, and any Ethereum compatible digital wallet is going to allow you to do just that.
Very Low Cost but Popular Cryptocurrencies
If you are still undecided whether it is going to be worth your time and effort and whether it is going to be the risk of investing in any cryptocurrencies, but you are inclined to do so, then how about investing in some of the very low-cost coins and tokens out there?
You will find plenty of them available to you but some of them will be listed on the top 25 cryptocurrencies, so you will not be forced to have to invest in some of the more obscure coins and tokens if you do fancy trying out your investing skills.
Ripple is and always have been a very low-cost cryptocurrency to invest in and as such if you are prepared and winning o make some very small valued investments in one of the more popular cryptocurrencies then Ripple may be the ideal one for you to invest in.
However, never tie yourself into investing and buying into just one single cryptocurrency for there is always going to be a much better chance you will buying one that is low cost but could start to increase in value and help you lock in a profit.
With that in mind a couple of additional cryptocurrencies that will not break your bank when you buy into them due to their very low cost per full single unit of them include NEM and also Tron, so spend some time doing your research on both of them is my advice!