Cryptocurrencies across the board such as Bitcoin, Bitcoin cash, Ethereum, Litecoin, and Ripple have all registered a downfall in their prices by 5% to 15% over the past 24 hours.
The price of cryptocurrencies is influenced by a number of factors including factors as random as sentiment and news flow among others so nothing can be said about the reason behind the price falls today. Although Ripple can be seen registering a mild hike of just 0.351 U.S. dollars towards the end today.
The cryptocurrencies don’t generate any cash flows to owners and hence cannot be valued using the conventional methods. Hence the valuation of any cryptocurrency is one factor which doesn’t much affect the price of cryptocurrencies.
Although, some cryptocurrencies can, to a restricted extent, be utilised to trade in for goods and services, which gives them a relative value but, the crypto giants argue over the fact that their finite amount gives them an edge over the traditional currency which is susceptible to corrosion due to inflation.
Given the issues currently faced by the cryptocurrencies, it is evident that tarring in crypto-assets is not for the faint-hearted or serious investors. Although, it’s wild and ever-growing popularity is indicative of the fact that prices of digital currencies move higher over time.
The disruptors: 3 leading revolutionary Aussie Companies to back for 2018
We are residing in a time which is very exciting and brimming with potential from an investor’s point of view in all of history. Innovation and an expanding culture of entrepreneurship are constantly giving rise to companies with the potential of making smart and forward-thinking investors very rich. Now, more than ever, one small, smart investment could add a substantial amount of wealth to your bank account.
That is why we have been analysing the ASX to unearth the kinds of companies that we believe could turn into the next Atlassian. And we, are proud to exclaim that we have been successful in finding three companies with the immense potential to perform substantially in the next year.