- Borislav Ivanov
Cryptocurrencies – our daily report (10.30.2021)
Bitcoin is the world’s first decentralized digital currency. It operates without a central bank or a single administrator, thus it is a direct peer-to-peer system, which doesn’t need intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger, called a blockchain. The currency, which began use in 2009, was created by Satoshi Nakamoto. It is the most valuable and most well-known cryptocurrency so far, still retaining a lot of growth potential.
The prices of Bitcoin started rising once again yesterday, surpassing the $60 000 mark. Some have speculated that the price of Bitcoin might reach $80 000 by the end of the year, and some go as far as to suggest that it might reach the mindboggling price of $120 000. Thus, it is a really good idea to invest in this crypto, as it is never too late. However, don’t do it now, but rather wait for another fall in price.
Price at its lowest this year: $30 191 | €26 068
Price at its highest this year: $66 974 | €57 476
Current price: $60 844 | €52 132
Although it isn’t the second oldest cryptocurrency, with Litecoin, Namecoin, and Switfcoin all created prior to the creation of Ethereum, it is the second most-valuable cryptocurrency in terms of price and market capitalization. It was initially conceived by Vitalik Buterin in 2013, and in 2015 it went live. It is estimated that this cryptocurrency might skyrocket to as much as $12 000 by the end of the year. However, when speculating about cryptocurrencies, we should always expect the completely unexpectable.
The value of Ethereum has skyrocketed, reaching a value, which is extremely close to its all-time-high price. Ethereum is a crypto, that you should definitely invest in. It is advisable to wait a couple of days for prices to fall once again.
Price at its lowest this year: $733 | €632
Price at its highest this year: $4 379 | €3 757
Current price: $4 322 | €3 703
The Australian parody cryptocurrency has been relatively stable during the past couple of months. Unlike other cryptocurrencies, there isn’t the tendency for a sharp increase in price for Dogecoin. The investment potential of Dogecoin is great, as more and more websites and businesses allow transactions, using the currency.
The price of Dogecoin has also increased rapidly during the past 24 hours. Its growth percentage is 11% currently. Although it is a meme currency, it is still worth it to invest in it.
Price at its lowest this year: $0.005173 | €0.0045
Price at its highest this year: $0.740 | €0.64
Current price: $0.25 | €0.22
Ripple has been relatively stable throughout the second half of 2021. There is a decent chance that prices will reach an all-time-high in the near future, although for the past couple of months the value has stayed roughly the same. It is a decently stable investment, but you should never invest too much in any cryptocurrency.
The price of Ripple has risen slightly since yesterday, although it still hasn’t recovered fully from its fall.
Price at its lowest this year: $0.238 | €0.21
Price at its highest this year: $1.81 | €1.56
Current price: $1.06 | €0.91
Cardano aims to directly compete with Ethereum and other similar decentralized platforms as a more secure, scalable, and efficient alternative. Since the beginning of the year, this currency has more than doubled in price. In recent months it has also remained quite stable. This also makes it lower-risk, relatively stable investment.
Cardano’s price has also risen since its recent fall. However, it still needs to recover completely.
Price at its lowest this year: $1.06 | €0.92
Price at its highest this year: $3.10 | €2.66
Current price: $2.01 | €1.72
One of the more recently popular cryptocurrencies, Polkadot claims to be one of the more environmentally friendly currencies of its kind. After a steep fall in price in May, Polkadot has recovered from its pitfall, gradually increasing to an almost all-time-high. It seems that this cryptocurrency is also going to be on the rise in the foreseeable future.
Polkadot’s value has also risen during the past 24 hours.
Price at its lowest this year: $10.80 | €9.33
Price at its highest this year: $46.85 | €40.46
Current price: $42.81 | €36.68
Stellar has remained very stable for years, although it used to be low in price. This May, however, this cryptocurrency reached its all-time-high, after which it suffered a steep fall, similar to many other cryptocurrencies. The current trend for Stellar is a gradual increase, which could also lead to a new all-time-high for this currency.
The value of Stellar is almost the same as it was during the writing of our article yesterday.
Price at its lowest this year: $0.132 | €0.11
Price at its highest this year: $0.735 | €0.63
Current price: $0.345 | €0.30
Another cryptocurrency, which has experienced major growth since last year is Chainlink. From October to 2020 to October 2021, the price of this cryptocurrency has nearly tripled. It has a great potential of growth and investors should carefully observe its growth tendencies.
Chainlink has also experienced a significant fall in value, after which it has remained relatively stable.
Price at its lowest this year: $11.25 | €9.66
Price at its highest this year: $52.98 | €45.49
Current price: $31.34 | €26.85