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Cryptocurrency in 2018

Bitcoin is SO last year!

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Modern day cryptocurrencies have become a global phenomenon known to most people. While still somewhat misunderstood by most, banks, governments and many companies are aware of its importance.

Most of the time however, when people think Cryptocurrency it’s always Bitcoin. According to News BTC,  Bitcoin was a bubble that was about to pop and others predicted moderate increases up to $4,000. No one expected it to get to around the $20,000 and even though it has dropped, it has still settled around the $15,000 mark. What the mainstream media seem to be forgetting are the huge returns it has made over the year than the occasional profits taking. Anyone with a Bitcoin Wallet with a sizeable amount held in it over the whole year made a fortune and the same will happen the year ahead.

However, a name you need to be on the lookout for is Ripple. This week alone, has been a wild and exciting ride for Ripple investors this week. The currency reached an ATH of $3.81, a 1424% increase from 30 days prior.

Stellar is another cryptocurrency you need to watch! Stellar had a market cap of $10 billion as the eighth-largest digital currency, according to CoinMarketCap. Unlike popular digital currency, Stellar’s transactions settle in 2 to 5 seconds and allows users to quickly exchange government-backed currencies, such as turning U.S. money into foreign currency. Technology giant IBM is using Stellar’s network to develop a cross-border payments system with some large banks.

Erin Whitten is currently CMN's Senior Correspondent and is a Demi Lovato fan, Mass Communication and Media Studies major, and Multi-Media Specialist for the City of Chelsea, in that order.

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