Cryptocurrencies: Top 10 Most Notable Alternatives to Bitcoin

Bitcoin Cash (BCH) is actually a successful hard fork of Bitcoin, which means that there was a disagreement between developers and miners. One of …

Bitcoin is the world’s first digital asset, and there are many people believe that it has forever changed finance as a result. Of course, there are plenty of cryptocurrencies besides Bitcoin that have garnered attention, and with good reason. There are many different cryptocurrency projects with various use cases and utilities, and some of these “altcoins” have grown tremendously in terms of market capitalization.

Litecoin (LTC), launched in 2011, is often considered “silver” to Bitcoin’s “gold”. It offers a faster transaction confirmation, and many believe that it has a tremendous amount of potential.

Ethereum (ETH) is a decentralized software platform launched in 2015. One of the reasons that many people believe that Ethereum has a tremendous amount of potential is because it can support decentralized apps (dApps).

Zcash (ZEC) was launched in 2016 and offers users the option of “shielded” transactions. One of the reasons that Zcash has potential is because it offers more privacy and security than fiat currency and other cryptocurrencies.

DASH (DASH) was originally known as darkcoin, and it is considered a more “secretive” version of Bitcoin. DASH can be mined, and it operates on a decentralized master code network that makes transactions “almost” untraceable. DASH was launched in 2014.

Ripple (XRP) was launched in 2012, and one of the reasons why it is a top cryptocurrency project is because it has already formed partnerships with powerful and influential financial institutions. Ripple is a real-time global settlement network that doesn’t require mining, and many believe that it will revolutionize the remittance sector.

Monero (XMR) is an open-source cryptocurrency launched in 2014 and it enables complete privacy. The cryptocurrency is not only untraceable, but the development of the project is largely community-driven.

Bitcoin Cash (BCH) is actually a successful hard fork of Bitcoin, which means that there was a disagreement between developers and miners. One of the advantages of Bitcoin Cash is that it offers for faster transaction times.

NEO (NEO) is often considered a Chinese version of Ethereum, and is one of the most well-known cryptocurrencies to emerge from the country. One of the reasons that people believe that NEO has potential is because of its Chinese government connections.

Cardano (ADA) was launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. Cardano aims to tackle the international payments sector, and offers a platform for smart contracts and dApps.

EOS (EOS) was created by Dan Larimer, a pioneer in the cryptocurrency world. EOS had one of the most profitable initial coin offerings (ICOs) in history, raking in $4 billion. EOS also has certain features that ensure that it is more democratic and decentralized than other cryptocurrencies out there.

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These three altcoins perform better than bitcoin (BTC) in 2019

The rest of the (large) altcoins do not show such strong increases in 2019 and some of them even show a decrease. bitcoin cash (BCH) is also doing …
These three altcoins perform better than bitcoin (BTC) in 2019

Bitcoin (BTC) has had a good year so far. At the turn of the year, the price of BTC was still at around $ 3,700 and at the time of writing the price of bitcoin is just under $ 11,000. That is an increase of more than 200%.

Altcoins in general, however, have not had such a good year. A large part of the altcoins peaked at the end of June, but most of them have fallen back considerably. Yet there are a few exceptions, the rate of which in 2019 rose even more strongly than that of bitcoin.

Litecoin (LTC) started this year with a price of $ 30.5 and peaked around $ 144 at the end of June. That is an increase of almost 400%. However, in the meantime, LTC has dropped back considerably to around $ 85 at the time of writing.

That is surprising since a so-called halving for litecoin recently took place. Hereby the amount of LTC earned by crypto-mining is halved. It was expected that this would further increase the price, but this increase has not yet been achieved.

Binance Coin (BNB), the native token of Binance, one of the largest cryptocurrency exchanges, is doing particularly well this year. The BNB rate was $ 6 on January 1 and peaked at $ 39 at the end of June: a growth of no less than 550%. At the time of writing, this has been adjusted downwards to $ 30, which is still a growth of 400% in 2019.

Chainlink (LINK) even increased by around 700% in 2019. Chainlink entered 2019 with a value of $ 0.29 and is worth $ 2.34 at the time of writing. This altcoin also peaked strongly at the end of June with a value of $ 4.44, which at that time was a growth of 1,400%.

The rest of the (large) altcoins do not show such strong increases in 2019 and some of them even show a decrease. bitcoin cash (BCH) is also doing relatively well and has increased by around 125% since 1 January. This is followed by monero (XMR) with 95% and Bitcoin SV (BSV) with 70%.

Ether (ETH) and EOS (EOS) are at 60% growth in 2019 so far. NEO (NEO) has increased by around 40% and cardano (ADA) and DASH (DASH) by 30%. TRON (TRX) is back to where it started this year and therefore shows neither rise nor fall. XRP (XRP) has even fallen by 20% and Stellar (XLM) and IOTA (MIOTA) have fallen by 30%.

Changpeng Zhao (CZ), CEO of Binance, recently said that he expects a so-called “altcoin season” to start soon: a period in which the rates of altcoins will rise sharply again.

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Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide

Bitcoin cash (BCH) markets are leading the top 10 crypto pack as BCH has gained 2.17% in the last 24 hours. BCH is trading for $337 per coin and the …

On Tuesday, August 13, most digital currency prices have dropped in value between 2-5% while crypto trade volumes globally have fallen to $46 billion in the last 48 hours. Despite the downturns across the board, bitcoin cash (BCH) is holding steady, up 2% today and now commanding the fourth largest market valuation.

Also read: Twitter Crypto Scammers Continue to Fly Under the Company’s Radar

The Top Digital Currency Markets

Most crypto markets are in the red today as many popular digital assets have lost a few points over the last day. At the time of writing, the overall market capitalization is roughly $286 billion. BTC prices are down a touch over 3% this Tuesday as each BTC is trading for $10,984. BTC does capture 68% of the $286 billion with a market valuation of $196 billion this week. The cryptocurrency is down 6.6% over the last seven days and has about $15.1 billion in global trading volume.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Did you know you can purchase digital currencies from our trusted platform as well as in-person using our noncustodial, peer-to-peer marketplace?

Behind BTC is ETH which has dropped more than 3% today as each ETH is swapping for $205. Ethereum markets have a valuation of about $22 billion in total and there’s roughly $5.6 billion in ETH trades worldwide. Ripple (XRP) has been extremely boring but dropped from $0.32 to $0.29, losing 2% in the last 24 hours. Lastly, litecoin (LTC) has seen the worst of the declines this week, losing more than 10.9%. Each LTC is swapping for $84 per coin and markets are down 2.5% on August 13.

Bitcoin Cash Fundamentals Look Bullish

Bitcoin cash (BCH) markets are leading the top 10 crypto pack as BCH has gained 2.17% in the last 24 hours. BCH is trading for $337 per coin and the cryptocurrency’s market capitalization today is roughly $6 billion. There’s 1.27 billion in global BCH trades and bitcoin cash currently holds the sixth largest trade volume. The top pair traded with bitcoin cash is tether (USDT) which has around 48.7% of all BCH trades today.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide

This is followed by BTC (32%), USD (9.4%), ETH (6.4%), and KRW (2%). The exchanges swapping the most BCH include Coinbene, Huobi Pro, Huobi Korea, Huobi Japan, and the trading platform EXX. Many traders have noticed that BCH has outperformed a bunch of other digital assets this past week, spiking more than 10% on Sunday. The well known digital currency trader Don Altexplained that bitcoin cash may see a price run-up soon. On August 11, Don Alt tweeted:

[Bitcoin Cash] is one of the charts with the most potential out there right now. Looks as if it wants to pull a BTC like run soon. As long as it can close through resistance (0.035) I’ll suspect BCH is going to retest blue (0.075) which would be + 150% from here.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Don Alt’s BCH/USD analysis chart.

Goldman Charts Indicate a BTC/USD Rally Toward $14K

A series of BTC/USD chart slides stemming from Goldman Sachs suggest that the current BTC price dip could be a buying opportunity for investors. The slides were created for institutional clientele and implied there was a possibility BTC could touch $13,971 per coin. “Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low,” one slide details. The Goldman Sachs analyst used an Elliott Wave analysis, a tool that attempts to locate market cycles and trends in wave patterns. However, critics of the Elliott Wave principle believe the chart research is too broad and vague due to the fact that it’s very difficult to recognize the start and end of each wave.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Chart slides stemming from a Goldman Sachs investors report.

SEC Postpones Three Exchange Traded Funds

The BTC/USD price started fumbling after the U.S. Securities and Exchange Commission (SEC) delayed the Vaneck Solidx Bitcoin Trust, Wilshire Phoenix, and the Bitwise Bitcoin ETF Trust. Almost immediately after the announcement from the U.S. regulator, BTC/USD prices dipped from a high of $11,560 to $11,350 on Monday. Reports reveal that the Wilshire Phoenix proposal decision may come on September 29, while the Vaneck Solidx Bitcoin Trust could be made in mid-October.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
The U.S. Securities and Exchange Commission (SEC) delayed three Bitcoin ETFs.

The regulator has delayed Bitcoin exchange-traded funds (ETF) for years starting with the Bitcoin ETF backed by the Winklevoss twins. Speaking during the Bakkt Digital Asset Conference, SEC commissioner Hester Peirce told the crowd that regulators are stiff against the crypto industry because regulators are the ones who get the blame when things go wrong. “It is very natural for regulators to be conservative because if we make a mistake then people are going to blame us and I know if people lose money, they always blame the regulator,” Peirce told the crowd.

Crypto Price Downturn Could Last Much Longer

According to the popular trader Cryptowolf, if the current BTC/USD price follows historical data the current correction could continue. BTC prices have failed to break the upper resistance above the $12K region over the last two weeks. Cryptowolf says the current correction will only last six and a half weeks if prices follow historical data. “One of the reasons I don’t expect a new high anytime soon in bitcoin is the lack of time in this correction,” the trader remarked on Sunday. “History has proven that every reversal rally was then followed by a correction of 189 – 203 days before breaking its previous high — Currently at only 45 days correction.” If the analyst’s timeframe correlates with prior prices, it started beyond the $12K rejections this month as BTC/USD stopped short just before the $14K zone at the end of June.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Cryptowolf’s chart.

Trade Wars, Faltering Debt and Hyperinflation Could Pose Systemic Risk to the Global Economy

Overall digital currency prices are still holding strong as the world’s economic woes continue to grow. Fears of a deep recession have started to look certain as particular regions pose a systemic risk to the global economy. There’s anxiety over a no-deal Brexit between the U.K. and the Eurozone as well as a chance that Italy could abandon the monetary system.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Hong Kong airport on August 12, 2019.

Economists are finding that Hong Kong is not only suffering from the U.S.-China trade war, but the protests are disrupting the country’s businesses as well. On August 12, the country’s most popular airport suspended all flights because protestors brought the international travel hub to a standstill. The airport in Hong Kong is one of the busiest worldwide with more than 1,100 daily flights. Reports detail that over 700 protestors have been arrested for “taking part in a riot” and unlawful assembly.

Market Outlook: Bitcoin Cash Spikes While Economic Fears Spread Worldwide
Gold and cryptocurrencies have reaped the benefits of a gloomy global economy. On Tuesday, August 13, gold spot prices remain above $1,500 an ounce.

Meanwhile, all eyes are on the German economy this week where economists and data reveal a looming recession. Data expected this week will show how the country’s economy performed during the first two quarters of 2019. Additionally, while the world was focused on the 10,000,000% inflation rate in Venezuela, people are now watching the economic chaos in Argentina. With all of the global fears growing, larger spot gold prices have touched all-time highs above $1,500 per ounce. Despite the 45-day long correction, with the global economy in disarray, cryptocurrency market prices remain strong.

Where do you see the cryptocurrency markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency and gold prices referenced in this article were recorded at 12 p.m. EST on Tuesday, August 13, 2019.


Images via Shutterstock, Trading View, Bitcoin.com Markets, Getty, Goldprice.org, Wiki Commons, and Pixabay.


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Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

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Cryptocurrency Derivatives Trading 101: Everything You Need to Know

Cryptocurrency trading is simply the buying, selling, and exchange of crypto assets in the hopes of profiting from the price volatility and arbitrage …

Cryptocurrency trading is simply the buying, selling, and exchange of crypto assets in the hopes of profiting from the price volatility and arbitrage opportunities in the market. The fact that cryptocurrencies deliver exponential gains (during bull runs), which dwarfs the performance of other assets such as stocks is one of the reasons cryptocurrency trading is becoming popular.

However, cryptocurrency derivatives are gradually being adopted by traders because of the leverage that they deliver. Cryptocurrency derivatives provide an opportunity to profit from either the uptrend or downtrend in the price of cryptocurrencies without requiring you to buy, own, or hold the cryptocurrencies. Cryptocurrency market analysts often use the terms “Shorts’ and “Longs” to refer to traders who are betting on the bearish or bullish prospects of the crypto market.

This piece is a practical guide for understanding how to take part in the cryptocurrency derivatives trading industry.

What are Cryptocurrency Derivatives?

Cryptocurrency derivatives are trading instruments that derive (the reason behind the name) their value from an underlying cryptocurrency or basket of cryptocurrencies. Fundamentally, cryptocurrency derivatives are built on an agreement between two counterparties to buy or sell a certain amount of a specified cryptocurrency at a pre-defined price on an agreed date in the future. The more important point to note, however, is that the value of a derivative instrument is often a function of the price of the underlying crypto asset.

Some types of cryptocurrency derivatives include:

Swaps

A derivative instrument that allows counterparties to exchange one cryptocurrency for another at a pre-defined rate sometime later, irrespective of the prevailing exchange rate when the swap is executed. For instance, if the BTC/ETH rate today is 1:50; a 3-months swap contract obligates the counterparties to trade Bitcoin for Ethereum at the same rate irrespective of the new market rate.

Futures

A futures contract gives the buyer the right and the obligation to buy a cryptocurrency, and it gives the seller the right and obligation to sell a cryptocurrency at a given price by a future date.

Options

An options contract gives the buyer the right (but without any obligation) to purchase a cryptocurrency, and it gives a seller the right (but without any obligation) to sell a given cryptocurrency at an agreed price by a given date.

Some other cryptocurrencies derivatives pending regulatory approval in different jurisdictions include crypto ETFs and crypto indexes.

Why do People Trade Crypto Derivatives?

Cryptocurrency trading is fundamentally different from trading traditional assets such as equities or forex. Derivatives add an extra layer of complexity to the highly volatile nature of regular cryptocurrency trading.

Speculation

The first reason people trade crypto derivatives is simply to make speculative trades. Volatile assets with fast-changing prices provide an opportunity for profit. Derivatives double the opportunity for speculative profit by allowing traders to make money when the asset is trading up (long) or when the cryptocurrency is trading down (short).

Hedging

Some traders (institutional traders especially) and investors use crypto derivatives to hedge their positions in other cryptocurrency holdings. Since derivatives provide leverage, a fraction of the future potential gain in a trade can be used to purchase a contract, which then provides an “insurance” of sort for capital preservation in case the trade goes south.

Leverage

Crypto derivatives provide an opportunity to apply leverage in trading decisions to unlock bigger profits. Instead of buying 1 BTC for $10,000; a 10X leverage could give you a position worth $100,000 equaling 10 BTC. Hence, your profit in the trade will be the equivalent profit of owning 10 BTC instead of the 1 BTC that you wanted to buy originally.

How to Trade Crypto Derivatives

Register on a crypto derivatives trading platform

Many cryptocurrency exchanges offer margin or leveraged trading. However, you’ll have a better experience if you make regular cryptocurrency trades on the usual crypto exchanges while trading crypto derivates on platforms built exclusively for cryptocurrency derivatives trading.

Bybit is one of the few cryptocurrency derivatives trading platforms in the market, and its exclusive focus on derivatives enables it to offer features that are unmatched by regular exchanges. The sign-up process is easy, starting with your email address, and its tiered registration and verification structure ensure that you can start trading within a minute.

Fund your trading account

After creating an account, you can go ahead to fund it by depositing BTC, ETH, EOS, or XRP into the corresponding wallet in your account. There are no deposit fees beyond the usual network fees charged on the blockchain of each coin.

Start trading

Once your account is funded, you can begin trading as seen in the screenshot below. In the top left pane (red) you can choose the amount of leverage (multiplier effect) that you want. Bybit gives traders up to 100X leverage on their trades.

The middle left pane (blue) is where you enter how much money you want to commit to the trade. The amount entered here will be multiplied by the leverage.

The twin panes “Buy” and “Sell” holds the last step to activate your trade. You can hit the “Buy” button for a long position if you believe that the price of the underlying asset is set to increase.

You will hit the “Sell” button for the short position if you believe that the price of the underlying cryptocurrency will fall.

After you’ve placed your trade, you can look towards the bottom of the page for the pane named “Contract Details”, which presents a one-glance snapshot of your position and the general state of the market.

The pane named “Positions” under the trading chart holds live market information about your trade, and it also helps you to know if the trade is making a profit or otherwise.

How Big is the Crypto Derivative Market?

On Wall Street where stocks and other traditional assets are traded, the size of the derivatives market is several times bigger than the size of the regular equities market. The cryptocurrency derivatives market is growing very fast especially because traders can trade and profit both in bull and bear markets. In Q1 2019, cryptocurrency derivatives trades were valued at $2.5 trillion while the value of coin-to-coin and fiat-to-coin trades were valued at $4.5 trillion.

As the cryptocurrency market continues to mature, the market for crypto derivatives will eventually catch up with regular crypto trades. You can expect that the market for derivative crypto trades will eventually outpace the market for regular crypto trades.

The Role of Regulation in Trading Crypto Derivatives

Cryptocurrency derivatives are permitted within regulatory frameworks across different jurisdictions. Bitcoin futures were the first kind of cryptocurrency derivatives allowed on regulated exchanges. Cryptocurrency swaps and options have also become a regular fixture in the crypto trading market.

However, in the U.S, the SEC has refused to approve multiple applications by different promoters that wanted to launch Bitcoin ETFs. The SEC contends that the cryptocurrency market doesn’t yet have enough liquidity on which cryptocurrency ETFs can be built. It would be interesting to see how the regulations continue to play out in the next few years.

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Latest cryptocurrency news and prices, 13 August 2019

Bitcoin (BTC) seems to be struggling to overcome key resistances above $11,500 and $11,600 while the rest of the top twenty altcoin markets, for the …

Bitcoin (BTC) seems to be struggling to overcome key resistances above $11,500 and $11,600 while the rest of the top twenty altcoin markets, for the most part, are all enduring slight losses today. Here are your latest cryptocurrency news and prices.

Latest Bitcoin (BTC) news and prices

According to analysts, there are currently two bearish trend lines forming with resistance close to the $11,400 and $11,600 areas as per the hourly chart of the BTC/USD pair.

Many traders believe that the price could see hefty drops should a break below $11,200 occur in the near term. Bitcoin’s price is displaying bearish indicators below the $11,500 area. If BTC were to drop below the current support at $11,200, investors should expect losses as far down as the $10,500 level.

Read more here.

(Trading at $11,269.44 at 14:00 13 August 2019)

Latest Ethereum (ETH) news and prices

On 12th July, Ethereum was near 277 USD. Suddenly, it started falling and reached 205 USD by 15th July. This marks the starting of Ethereum’s struggle. After a few hours of strengthening, the coin again went down and this time it touched the lowest point of the month at 203 USD by 24th July. However, the coin could get a push of 16.44% and by 06th August, it was near 236 USD. The latest variation came as a devaluation of the coin by 14.15% and it took the coin to 203 USD. The current value of Ethereum against USD hovers around 210 USD.

Read more at cryptonewsz.com

(Trading at $210.90 at 14:00 13 August 2019)

Latest Ripple (XRP) news and prices

XRP/USD had a bearish Monday, wherein the price fell from $0.303 to $0.300. Currently, the bulls are struggling to stay above the $0.300-level. The hourly price chart shows us that the price fell from $0.303 to $0.299. Following its brief fall from the $0.30-zone, the bulls stepped back in and took the price back up to $0.301, before the bulls corrected it to $0.300.

Read more at fxstreet.com

(Trading at $0.298339 at 14:00 13 August 2019)

Bitcoin Cash (BCH) news and prices

Bitcoin Cash has had a bearish start to Tuesday, following a bearish Monday. This Monday, the price fell from $338.50 to $329. Currently, it is priced at $328.55. The hourly price chart shows that the price initially plunged to $329.65 before the bulls took it back up to $333.45. Following that, the bears took the price down to $329.

Read more at fxstreet.com

(Trading at $339.52 at 14:00 13 August 2019)

Litecoin (LTC) news and prices

Litecoin continues to add sorrow to the moody cryptocurrency following losses of over 3% on the first day of this week’s trading. Although, the crypto closed last week’s session in the positive, the prevailing trending is still bearish. The high achieved on Sunday at $91.51 led to declines below the moving averages including the 21 Exponential Moving Average, The 50 Simple Moving Average, and the 100 SMA.

Read more at fxstreet.com

(Trading at $85.93 at 14:00 13 August 2019)

Binance Coin (BNB) news and prices

Binance US, the United States offshoot of popular cryptocurrency exchange Binance, has published an update on its progress.

The exchange will use Binance’s technology but will be operated by another entity – BAM Trading Services. The Binance US project is being headed by Catherine Coley, who previously worked at Ripple as the head of XRP institutional liquidity.

Binance US will list a smaller selection of cryptocurrencies than the main Binance exchange. To an extent, this is the result of the more stringent regulatory environment in the US. In the Binance US blog post, Coley writes:

Read more at coincodex.com

(Trading at $30.00 at 14:00 13 August 2019)

Tether (USDT) news and prices

As discussed previously, there is a noticeable lag between Tether issuance and Bitcoin’s corresponding price action.

By starting at Tether’s market cap bottom and comparing this against the time it took Bitcoin to reach its 2018 bottom, FilbFilb’s notes that there is an approximately 32-day delay between Tether and Bitcoin’s price action.

Read more at cointelegraph.com

(Trading at $0.998915 at 14:00 13 August 2019)

EOS news and prices

EOS price is trading in a downtrend below the key $4.400 and $4.500 resistance levels. The price is now approaching the $4.000 support area, below which there is a risk of more losses towards the $3.800 support area. On the upside, an immediate resistance for a decent recovery is near the $4.200 level.

Read more at newsbtc.com

(Trading at $4.08 at 14:00 13 August 2019)

Bitcoin SV (BSV) news and prices

Bitcoin SV (BSV) has been trading between the support of $136.89 and the 20-day EMA for the past few days. This tight range trading is unlikely to continue for long. We expect a breakout of the 20-day EMA or a breakdown of $136.89 within the next few days.

Read more at cointelegraph.com

(Trading at $143.77 at 14:00 13 August 2019)

Monero (XMR) news and prices

However, that wasn’t the only finding by CipherTrace. The Q2 report claimed that “Bitcoin is king in dark markets and cybercrime.” The research claimed that the cryptocurrency was primarily used for the purchase and sale of illegal drugs, weapons, and banking credentials on the darknet. The report also revealed that the use of privacy-centric coins such as Zcash and Monero, in an attempt to flout AML/KYC norms, is still very low on the darknet. Monero [XMR] for instance, was used for only 4% of all crypto-transactions on the darknet.

Read more at ambcrypto.com

(Trading at $89.97 at 14:00 13 August 2019)

For your daily top cryptocurrency news and price updates, be sure to check in daily at 14:00.

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