Cryptocurrency Market - 2020

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You’ve probably heard about cryptocurrency and how it has made many overnight millionaires. Cryptocurrency is a new and evolved form of digital currency built on a cryptography technology called a blockchain. Blockchain technology allows cryptocurrencies to be decentralised through a distributed ledger that is maintained and verified by a network of independent computers.

While that explanation might raise more questions than it answers, the important thing to note is that cryptocurrencies are decentralised, meaning that they are not issued by any government or controlled by any central bank. This, in theory, means that it cannot be manipulated or interfered with by anyone entity or government, which in turn is part of its mass appeal.

The original and currently most popular cryptocurrency is Bitcoin, it has been inexistence since 2009 and dominates the market share of cryptocurrency. Nevertheless, there are hundreds of other coins in the market, known as altcoins, such as Ethereum, XRP, and Litecoin etc. Both Bitcoin and altcoins have opened an enormous speculative investment opportunity for traders.

Crypto currency Markets are notoriously volatile, and prices can move wildly and quickly. This volatility is a double-edged sword for traders, is can present huge opportunities for profit but also potential huge losses.
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