The cryptocurrency market seems to be all the rage these days, with more and more people interested in investing. Bitcoin followed by Ether are the two most popular digital coins on the market, but they are not created equal. If you have been following the cryptocurrency markets lately, you have certainly witnessed their explosive growth. This phenomenon has led to an increased amount of public attention and hype.
Both of these digital assets have the potential to grant users more financial freedom. So far, both of them have done a great job at doing just that by being a medium of exchange, store of value, and network. With thousands of people making small fortunes off of cryptocurrency, it only makes sense to take a deeper look into these digital currencies. This article collates the latest news and perspectives around Bitcoin and Ether, two of the most widely known cryptocurrencies in the world.
Price Trend of Bitcoin and Ethereum
The price trend of Bitcoin and Ethereum is on the rise. The price of Ethereum has increased by 3% in the last 24 hours and reached $1,253 at press time, while the price of Bitcoin has reached $6,537 during the same period. The recent increase in Bitcoin’s price can be attributed to several factors.
First of all, there is a growing demand for digital assets from institutional investors eager to invest in cryptocurrencies. Another factor is that Bitcoin has outperformed altcoins in terms of growth, bringing more interest into BTC as investors look for a haven asset.
There are several factors that might cause Ethereum’s price to grow even further. First of all, there is an increasing demand for alternative investment options among institutional investors, which could drive up demand for Ethereum and other cryptocurrencies such as bitcoin and Ripple (XRP). Another factor is the fact that Ethereum is not just another cryptocurrency. It is a platform where developers can build decentralized applications (dApps). This means there are already thousands of dApps on this platform, and more will be created in the future.
What Makes Bitcoin and Ethereum in Present and for the Future?
The difference between the two coins comes down to their usefulness. Ethereum is more of an investment than a currency; it is designed to be used by businesses and individuals who want to transact with each other online without paying fees or waiting for confirmations from other users, like with Bitcoin transactions.
Bitcoin is meant to be used as a currency, not just an investment tool for investors looking for a quick buck or tech nerds trying to build new apps and platforms on top of it though that does happen too. It is supposed to be used as an easy way for people worldwide to transfer money without having to rely on banks or other financial institutions that charge fees or take days or weeks.
What Is the Future?
As with every new technology that emerges, it must deal with a certain level of hype and unfounded expectations. But as more adoption occurs and technology improves, it becomes easier to see Bitcoin and Ether as the strong, legitimate financial players they are in the world today.
Bitcoin and Ether are playing critical roles in shifting money to the digital economy and will continue to do so. More businesses, especially startups, accept cryptocurrencies as one way to be flexible with their financial structure. Now more than ever before is a good time to learn about the digital currency arena, understand its complexities, and how it might play a role in your finances.