South Korea sends Bitcoin down, so some large media publications wrote it yesterday. We pointed out that regulatory measures in individual countries havn´t affected the cryptocurrencies in recent months. It always came to short down moves in the Crypto prices next day – but then they went up again. So it happened again after the suggestion of the government in South Korea to tighten the regulation for crypto currencies. Bitcoin was $ 13,000 yesterday at noon, but now it´s back at $ 14,460. This has almost ironed out yesterday’s crash (starting at $ 15,000).
Bitcoin was $ 960 late last year. Comparing the current price of $ 14,460 with $ 960 results in an annual performance of an incredible 1400% profit! Just unbelievable! Such performance is easy to achieve because cryptocurrencies arn´t backed by any real commodity, nor are they geared to the economic strength of a particular economy, as is the case with FIAT currencies relative to other currencies. What about the Crypto performance for 2018? Totally unclear, but it will probably be more exciting! (Chart since end of 2016)
At the end of 2016, the number 2 cryptocurrency Ethereum was pricing at $ 7, now it’s $ 723. The all-time high was $ 850 on December 19. But after all, to date, it has been a whopping 10228% increase in 2017 as a whole (in words “ten thousand two hundred and twenty-eight”).
The number three cryptocurrency ripple reached a new all-time high this morning at $ 1.35. If you look at the chart one year ago, Ripple was priced at only 3 US dollar cents. Therefore one can speak of an annual performance of 4400%.