The value of cryptocurrency has increased over the years after people have started to see the potential it holds. Many cryptocurrencies have also emerged after the success of bitcoins and many new coins were introduced in the market as well. It is also true that the prices of hot coins have slipped over the years as well. It is true that altcoins can give a healthy and strong competition for bitcoins. Cryptocurrencies are digital assets which are designed to function as an exchange medium. It uses a strong Cryptography to protect the financial transactions or keep hold on creation of supplementary units and can also be used for transferring other certifications as well.
Built up on the blockchain technology, it still has reason why the market suffers from the prevalent skepticism around it. People are not yet into crypto currency that much d as they are still very unfamiliar with the new upcoming technology. However, it is true that this market is a very volatile one and there is no guarantee about the outcome. It leads people to believe that the cryptocurrency market is not a reliable one. It is expected that all coins are going to go up this year. Altcoins are designed to overcome the shortcomings of bitcoins. Weather is improving blockchain technology. We can even expect Litecoin and Ethereum to replace our modern ways of payment. The momentum of Bitcoin has fallen around 70% since its highest record and this dip is actually the new ray of hope for other alternative coins.
The values of altcoins are expected to rise in the future. Altcoins such as Ethereum and Ripple are actually trying to go head to head with Bitcoin terms of the competition rate. Even after this, the coins are dependent on the initial boom of Bitcoin values. The coins are actually more reliable and less prone to fluctuate according to some market experts. The most successful part of the cryptocurrency is the blockchain technology is that it uses Industry works on a decentralized platform but there are many such as Coinbase which appears to be more centralized and decentralized. Now if the government decides to launch his own alternative coins it is sure to give a tough competition to Bitcoin and even hamper the performance. This will make tax collection very easy with almost negligible risk of fraud or theft.
As it is the internet contributes was free and fair lead to the value of the altcoin. It is the objective to underpin alternative coins to integrate with the internet and make more opportunities for smooth operations. People who have always traded with bitcoins are still hesitant to switch over to other alternative coins for this precise reason.
The randomly fluctuating market is not only restricted to altcoins. Even the top coin which is Bitcoin has shown history of appropriations as well full stop in this market there is no prediction about how the market is going to perform. However the adaptation rate of blockchain technology is actually accelerating. This is surely a sign that the world is moving towards digital currencies. It may hold some positive things for the alternative coins.
However at present the future of altcoins are not shining very bright as most altcoins other than Litecoin have taken a sharp fall in the last few years. It is also very predictable as Litecoin is the only alternative coin with a strong performance throughout the years other than Bitcoin. This is the reason why it has been on the top.