Note from the Publisher: We often write about Bitcoin at FintekNews, and believe in the digital currency so much that our CEO does a daily pricing analysis of it utilzing the Chicago Mercantile Exchange’s new Bitcoin pricing indexes, compared to the pricing of gold. We also periodically cover Ethereum, but we seldom write about the other several hundred digital currencies in existence. However, according to CoinDesk, the top 7 traded digital currencies all experienced rising valuations in 2016. We suspect much of that has to do with more widespread adaptation and also the currency volatility in China, Venezuela and elsewhere. Anyway, this is a great technical piece covering a one year pricing analysis of Bitcoin, Ethereum, Litecoin, Ripple, Monero, Ethereum Classic & Dash. If you haven’t heard us YELLING IT FROM THE RAFTERS, 2017 is the year you MUST become acquainted with the digital currency phenomenon sweeping the globe.
“2016 has been an exciting year for cryptocurrencies.
With most of the major open-source currencies showing growth this year and with some expected to see significant expansion in 2017, 2016 reflects a loss of faith in traditional money systems in light of the global populism trend and a growing confidence in the underlying technologies in play for crypto transactions.
As the year comes to an end, CoinDesk took a moment to look at the best-performing cryptocurrencies by market capitalization for the year and the factors that affected the markets throughout the year.
For the sake of this analysis, we are looking at a review period of December 27, 2015 to December 26, 2016.”
Read Full Analysis at CoinDesk