Cryptocurrencies – our daily report (11.01.2021)

Bitcoin

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.

During the weekend, the price of Bitcoin has increased to $62 000. The oldest cryptocurrency has enjoyed remarkable stability, despite reaching it’s new all-time-high. Since the 15th of October, it has been continuously valued at between $60 000 and $63 000, sometimes reaching higher values, and rarely dropping below that.

Price at its lowest this year: $30 191 | €26 068

Price at its highest this year: $66 974 | €57 476

Current price: $62 034 | €53 613

iStockphoto.com/themerpic

Ethereum

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.

During the weekend, Ethereum reached a price of $4 444, which is $14 shy of its all-time-high value. Currently, its value is around $4 300.

Price at its lowest this year: $733 | €632

Price at its highest this year: $4 379 | €3 757

Current price: $4 306 | €3 724

Dogecoin

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.

Dogecoin experienced spikes in price, reaching $0.28 during the weekend. Currently it is experiencing a growth of +3.23%.

Price at its lowest this year: $0.005173 | €0.0045

Price at its highest this year: $0.740 | €0.64

Current price: $0.27 | €0.23

Ripple (XRP)

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 experienced a major spike in price during the weekend, reaching a value of $1.13, after which it fell to around $1.10.

Price at its lowest this year: $0.238 | €0.21

Price at its highest this year: $1.81 | €1.56

Current price: $1.10 | €0.94

Cardano

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 has experienced devaluation, with priced dropping below $2.

Price at its lowest this year: $1.06 | €0.92

Price at its highest this year: $3.10 | €2.66

Current price: $1.98 | €1.71

Polkadot

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 been on the rise, with a steady growth rate of +4.17%.

Price at its lowest this year: $10.80 | €9.33

Price at its highest this year: $46.85 | €40.46

Current price: $43.43 | €37.56

Stellar

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 has been on the rise during the weekend, however it has fallen slightly during the past 18 hours.

Price at its lowest this year: $0.132 | €0.11

Price at its highest this year: $0.735 | €0.63

Current price: $0.369 | €0.32

Chainlink

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 experienced a fall in prices during the past days. Prices are currently slowly climbing up once again.

Price at its lowest this year: $11.25 | €9.66

Price at its highest this year: $52.98 | €45.49

Current price: $30.21 | €26.12