What is an Altcoin?
An altcoin is simply a combination of two words: ‘alt’ which is short for alternative and ‘coin’, meaning currency. It is also known as an abbrebiation of the phrase ‘Bitcoin Alternative’. Since Bitcoin’s huge success, there have been hundreds of alternatives using similar blockchain technologies for various uses. Some of these altcoins were created with amazing uses in the real world, often solving complex problems and offering interesting solutions to challenges in everyday life and in the business world.
The cryptocurrency market as a whole, has seen unprecedented growth in 2017! Bitcoin has been steadily growing over the years, but 2017 has seen an absolute explosion. Around spring (differing slightly depending on the coin), Bitcoins price started surging from around £800/£900 in April, all the way up, on a pretty much vertical climb to highs of £2300 in June, where it now lingers just under the £2000 mark (29th June). Judging by it’s past performance and volatiliy, I believe the price will soon surge even higher.
Spring 2017 also saw the rise of many other up and coming cryptocurrencies. Ethereum, Dash, Z Cash and countless other’s prices soared in value! With all the hard work already done by Bitcoin and the point proven, some of the other altcoins are increasing at a much higher rate than Bitcoin did when it was at a comparable price.
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