March Cryptocurrency markets

March Cryptocurrency markets

There has been a sharp dive in the value of all cryptocurrencies recently. Hacking attacks and lack of political backing in cyber currency have been the main cause of this loss in value. Taking advantage of the price of Bitcoin chains has proven fruitful for several investors. However, things are starting to pick up, with the top few coin types starting to rise again. There has been a number of “Bull Runs”. In particular, China-based coin Neo has risen in price. After the market dip, Neo went up 18%.

Corporate Interest

This increase in the value of cryptocurrencies is likely due to new backing by financial and corporate institutions.

Circle, a cryptocurrency-based financial firm, was recently given backing by Goldman Sachs. This shows major financial institutions are looking to Bitcoin economics as an opportunity. What’s more, government regulation of cryptocurrency is of increasing interest for several nations. Corporations have also recognised that blockchain currency has future potential, and Samsung is rumoured to be announcing a partnership with Electroneum within the week.

These developments are likely the reason for the sudden resurgence in the value of cryptocurrencies in the market.

NEO Live chart

Crypto Pecking Order

Ethereum was formerly the second highest value coin on the market. However, it has now been succeeded by Bitcoin Cash. As of writing, Bitcoin still reigns over all other cryptocurrencies with a price of over $10,600. Bitcoin Cash tails behind it at $1,200+. Ethereum, meanwhile, has been lowered to third place with a current price of $870.

After this week’s Neo “bull run”, crypto investors have debated which lesser-known cryptocurrencies will soon rise in value. The most discussed coins that are now cheap to buy are NEM, ICON, Ethos, Substratum, High Performance Blockchain, Theta Token and Internet Node Token.

Crypto experts are investing heavily in these seven coins in anticipation of a bull run on one or all of them. Substratum, in particular, is likely to rise in price due to its popularity. Experts believe its decentralised system of commerce will revolutionise the way cryptocurrency transactions are applied in the future. This is debatable; however, the buzz from this debate could make Substratum rise in value.

Cryptocurrency Brokers

Trade the major Cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet required, just a trading account.
BitMex offer the largest liquidity Crypto trading anywhere. Contracts from $1
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
Zulutrade work with a range of brokers that deliver trading on a huge range of cryptos - See each brand for specifics
New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies. Payouts reach 95% per trade.
eToro lead the way in Crypto trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of Cryptos to trade. FCA Regulated.
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
BinaryCent are a new broker and have fully embraced Cryptocurrencies. In addition to offering many alt-coins to trade, BinaryCent also accept deposits and withdrawals in 10 different crypto currencies.
Show All Brokers ⇩
Photo: Bitcoins in a physical Wallet by wuestenigel licensed under Creative commons 4