Cryptocurrency Trading Tips

The Bitcoin market rallied yesterday for the first time in a month, and the price per Bitcoin briefly touched $500: http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/bitcoin-rally-price-per-bitcoin-briefly-touches-500/ The Bitcoin rally can be seen in the above chart. Price was near $455 before the rally, and it rose $45 (10%) over 6 hours. The price per Bitcoin has been relatively steady since then and is averaging $495. A chart of the Dogecoin market for the same period can be seen above. The price per Dogecoin had been steady near 100 satoshis (1 satoshi = 0.00000001 Bitcoin) for a few days and began to decline when the Bitcoin rally started. When the Bitcoin rally peaked at $500, the price per Dogecoin was 96 satoshis. Even though the Bitcoin market stopped going up after that point, the Dogecoin market has continued to decline and is now at 92 satoshis. Overall the price per Dogecoin relative to Bitcoin has dropped 9% in the past two days, while price per Bitc...

DOGE/BTC The price of Dogecoin has been falling during the last 72 hours, and today the decrease in rate has become increasingly rapid. Dogecoin had been trading near 100 satoshis (1 satoshi = 0.00000001 Bitcoin) for about a week, and 100 satoshis was considered a healthy support level. On May 20, the price of Dogecoin began to decline, right as the Bitcoin market had its first rally in over a month. The decline was steady at first, and at the start of today, Dogecoin was trading near 93 satoshis. Today the decline in Dogecoin’s price has rapidly accelerated, and it has traded as low as 71 satoshis this evening. This represents a 30% drop in the value of Dogecoin relative to Bitcoin in 72 hours. There is a lot of market volatility right now, and Dogecoin has been trading as high as 76 satoshis before another wave of selling pushes it back to the lower 70s. Over 10 million Dogecoin is being sold per minute on Cryptsy at times. It is hard to tell what is causing this Dogecoin sell-o...

Bitcoin Transactions Over the past year, Bitcoin transaction volume has been continuously increasing, as can be seen in the below chart. Daily transaction volume has increased from around 60,000 to over 100,000, a remarkable 70% increase. On May 28, there were 152,848 Bitcoin transactions, shattering the previous record. This is an indicator that Bitcoin is becoming increasingly popular across the globe. People realize how powerful Bitcoin is, you can transfer money anywhere in the world instantly without the typical oversight, limitations, fees, and delays associated with using banks or money transfer services like Western Union. This has given Bitcoin users unparalleled freedom to conduct business, resulting in a gold rush Esque boom of Bitcoin businesses. Every single day there are dozens of businesses popping up that use Bitcoin as their primary mechanism of monetary transfer, and many of these end up becoming quite profitable since users anywhere in the world can instantly bu...

Ripple is a cryptocurrency that was created in 2011, making it one of the first cryptocurrencies. Ripple is completely unlike Bitcoin, however. There is no blockchain for Ripple and no mining involved; instead, it runs on a public ledger of all transactions. Actual currency isn’t exchanged apparently, just debt, and this debt “ripples” through the network. Ripple is honestly confusing to understand and use overall and hasn’t caught on much, even in the cryptocurrency community. Usually, Ripple is only talked about for its extremely high market cap; for most of the past year, Ripple had the second most upper market cap behind Bitcoin. That has finally come to an end. The distribution of Ripple was extremely centralized. The developers of Ripple decided there would be 100 billion Ripple total. Developers, founders, and investors kept twenty billion Ripple. Eighty billion was given to Ripple Labs, and Ripple Labs intends to save 25 billion. The other 55 billion was supposed to be dist...