New investors to any cryptocurrencies often find the process of monitoring the markets more than a bit overwhelming. This is a highly volatile market that can turn dramatically based on the specific cryptocurrency, which is why monitoring the markets and following the latest cryptocurrency news update is important.
If you are planning on becoming an investor or are just getting started in the market, a good option is to focus on the cryptocurrency news update information about Bitcoin. Bitcoin is one of the most heavily traded and influential cryptocurrencies on the market, with over 1 trillion dollars in value since its launch in 2009. In fact, Bitcoin is often seen as the reserve currency of the cryptocurrency market, and it becomes the comparison for other altcoins.
Bitcoin Clones
The exact number of cryptocurrencies in existence is a bit misleading, as many of the ICO (initial coin offers) and even existing cryptocurrencies are not active. In a March 2021 report, CoinMarketCap indicates there are somewhere between nine and ten thousand different cryptocurrencies.
Of these cryptocurrencies, about 40% are altcoins. Altcoins are essentially Bitcoin clones, which means they use the same code as Bitcoin. As such, these coins tend to follow the Bitcoin lead either in gaining or losing value.
Security of Investment and Network
One common issue in a cryptocurrency news update is problems with the security of some of the new cryptocurrencies on the exchanges. The Bitcoin network is highly diversified, which increases security while also offering a network that can handle high trading volumes with a decentralized system.
To find the latest for any Bitcoin cryptocurrency news update, browse through the information provided at Blockchain Asset Review.
