We are now on the verge of seeing a Bearish market in Litecoin as it goes on a brand new low (see chart), and Ripple taking the second spot to the Cap Leader Bitcoin.
Currency traders are getting in on Ripple while it is still ultra-cheap, and selling off Litecoin with the expectation that Ripple and Litecoin will reduce their price gap as that smaller Litecoin circulation will become overwhelmed by the “Bitcoin Ripple Effect” and the drop of Litecoin is just the start of the Ripple.
Based on the low values of Bitcoin at its present state, and the low prices of other emerging coins, we can say these markets are still in the infancy, but growing faster than your average Newborn. Since there is such a small supply of Bitcoin for a population of 7 Billion people, many will never get the chance to get in on the Bitcoin gold rush, but they may be able to get in on its “ripple.”
The Ripple coin, based on today’s volume of over $5,000,000 USD is on a tear! It looks like it is going to continue to clawback the price of Bitcoin, as Bitcoin tries to make a running exit into the thousands, but it is anyone’s guess as many continue to be surprised at how the Litecoin selloff is going to continue with Ripple narrowing the gap, or how it will all play out!
Many analysts think that having the price of Bitcoin as low as it is, offers new people to buy some affordably, then play around with the excitement that trading coins offers, which seems to be a new craze! If you want to take a break from all the coin-trading, give the Seventh Continent a try. There are plenty of rewards, and can offer a nice trading pace compared to the ups and downs that the currency and coin traders are dealing with.