[ad_1]
The cryptocurrency market has witnessed a dramatic surge, with an increase in the price of bitcoin, ether (ethereum) and XRP of between 5 and 100 percent in the last 48 hours.
XRP: the digital heritage of US technology firm Ripple – saw the largest gains, doubling the price from Wednesday to rise above $ 0.50 for the first time since June.
The third most important cryptocurrency in the world is notoriously subject to rapid price increases and falls, peaking above $ 3.80 in January before a sudden crash.
Bitcoin's volatile history in images
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On January 3, 2009 the bitcoin genesis block appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010, the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin has soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first ATM bitcoin appears
On October 29, 2013, the first ATM bitcoin was installed in a coffee shop in Vancouver, Canada. The machine has allowed people to exchange bitcoins for cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The biggest bitcoin exchange in the world, MtGox, has filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At the time, this was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would stand up
In 2015, the Australian police broke into Craig Wright's house after the businessman claimed to be Satoshi Nakamoto. Subsequently rescinded the complaint
Getty Images
7/8 Bitcoin's big check
On 1 August 2017, an unresolvable dispute within the bitcoin community saw the division of the network . Bitcoin's underlying blockchain technology fork has spawned a new cryptocurrency: bitcoin cash
REUTERS
8/8 Bitcoin price rockets
By the end of 2017, the bitcoin price is rose to almost $ 20,000. This represented an increase of 1300% compared to its price at the beginning of the year
Reuters
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On 3 January 2009, the block of genesis of bitcoins appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010, the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin has soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first ATM bitcoin appears
On October 29, 2013, the first ATM bitcoin was installed in a coffee shop in Vancouver, Canada. The machine has allowed people to exchange bitcoins for cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The biggest bitcoin exchange in the world, MtGox, has filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At the time, this was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would stand up
In 2015, the Australian police broke into Craig Wright's house after the businessman claimed to be Satoshi Nakamoto. Subsequently rescinded the complaint
Getty Images
7/8 Bitcoin's big check
On 1 August 2017, an unresolvable dispute within the bitcoin community saw the division of the network . Bitcoin's underlying blockchain technology fork has spawned a new cryptocurrency: bitcoin cash
REUTERS
8/8 Bitcoin price rockets
By the end of 2017, the bitcoin price is rose to almost $ 20,000. This represented an increase of 1,300% compared to its price at the beginning of the year
Reuters
Cryptocurrency experts and market analysts have struggled to explain the sudden change in the market, even if many pointed to the development of xRapid – a new product related to Ripple.
xRapid developers say technology could help banks significantly speed up transactions using XRP. The rumors that the product was close to launch seemed to be confirmed by a series of high-value transactions involving ripples.
"High transaction values, combined with market sentiment after Monday's announcement, could be why XRP has achieved new high goals, having gained almost 50 percent in the last 24 hours", said Ed Cooper, head of furniture at the Revolut digital banking service company.
"Although this is great news for many crypto enthusiasts, and in particular for XRP fans, it remains to be seen if the uptrend will prevail, given the current market conditions that have seen almost all cyrptocurrencies lose much of the their value from the beginning of the year. "
This hypothesis was strengthened by Matthew Newton, an analyst of the commercial company eToro, who said that the cryptocurrency had more exposure than bitcoin on its platform.
"The stars seem to have aligned for XRP today." The news that Ripple's xRapid product may be imminent, combined with some announcements of timely partnerships, has created a crucial buzz that is affecting the price, "Newton said [19659058] The cryptocurrency XRP exploded in the price (REUTERS)
He added: "Despite being one of the most polarizing cryptographers of all, eToro's customers can not get enough XRP at the moment, it has more visibility than any other resource on our platform.As we have seen in the past, the price tends to move in short, in sharp gusts, gathering a lot of momentum when building the hype.It remains to be seen how far it could go. "
