Home Ethereum 2016 World’s Best-Performing Currency: Ether

2016 World’s Best-Performing Currency: Ether

Non-Bitcoin people tend to misrepresent the advantages and value of Bitcoin as an investment.

Blockchains to Face More Attacks in The Absence of Better Governance. iBase Trading.
iBase Trading Crypto News

Non-Bitcoin people tend to misrepresent the advantages and value of Bitcoin as an investment. Earlier this year, some complained that the price of Bitcoin was considered a form of fiat nitroglycerin, making the price too stable.

The collapse of Mt. Gox and its market corrections ended almost two years ago. Mike Hearn’s impact on the market hasn’t been felt for months. It’s time to let go of all these anomalies.


Also, it’s time to look at the new champions no one expected in 2016. Digital currencies are forever changing the rules of the investing game.

Ethereum the New Champion?

No one has seen a startup like Ethereum taking the digital currency world by storm to kick-off 2016. The world of promising and brilliant ideas wasn’t catted pajamas for New Year’s Day, which, according to Coinmarket, traded for less than $1 ($0.96 to be exact) at the time

Nevertheless, it has already gained momentum by the end of January, and prices have doubled significantly. By the end of winter, it was almost $15, and at the beginning of summer, it was close to $20. With the collapse of the DAO concept, red-hot’s love for Ethereum has cooled significantly but remains at $11.50 and above $10 today. In 2016, that number increased by 1195%.

As you can see, it is safe to assume that no other fiat or digital currency with a minimum market cap of $100 million will meet or exceed the 2016 Topper’s market cap.

Now that the fork has occurred and the invested funds are returning to their original owners, the situation for young Ethereum has stabilized. Many lessons have been learned. There were a few glitches like social media auditions after Iggy Azalea’s first mega-call of fancy. Because of that, it was time to rebuild the brand and move forward.

Ethereum has Plenty of Room for Growth

While the fact that the value has remained stable is encouraging, Ethereum is not being used as a major investment option like Bitcoin. Beyond its transactional value, Ethereum has a lot of technology. With its current price, there is plenty of room for future growth. The current market cap is less than $1 billion.

Bitcoin has returned to its original position, which will grow over time due to limited supply backed by increasing demand over time. Last month we looked at Bitcoin’s annual performance concerning inflation, but for now, we are focusing on the market price, or value, of Bitcoin.

Bitcoin The Most Profitable Currency in 2015

Bitcoin is Having Another Landmark Year After Becoming the World’s Most Profitable Currency in 2015.

At the end of 2014, Bitcoin traded at $315.19 on Mt. Gox. It fell below $200 on January 14, 2015, but has grown quite enormously since then, ending the year at $427.23. The net profit for this year was 35.55%.

While it is safe to say that Bitcoin will not keep up with Ethereum’s growth this year, it easily outperforms last year’s market value. Bitcoin started the year at a price of $427.23.

According to Bitcoin average, Bitcoin rose more than 2% yesterday and is currently trading above $670, or $673.15, at the time of this writing. This is an increase of 57.56% in 2016 alone. Bitcoin’s current market cap is about $10.7 billion.

Of course, there is still a year and two months left, and anything can happen in the Bitcoin world. China effectively controls the entire Bitcoin market, and for this reason, it must ensure that the value of Bitcoin does not change.

If the entire Chinese economy does not recover within the next 60 days, speculators will continue to switch from RMB/renminbi to Bitcoin as the currency continues to depreciate.

January 2016 was The Best Time to Sell or Buy Bitcoin

The bottom line of 2016 was Mike Hearn’s departure from the community. For the second year in a row, January was the best time to sell or buy Bitcoin.

According to Bloomberg, when comparing the Russian ruble to the dollar, the exchange rate index fell from 72.52 to 62.11 this year. The Chinese yuan rose slightly from 6.49 to 6.78 thanks to its new status as a reserve currency.

The US dollar was firm last year, up about 9%, but it has fluctuated and rolled throughout the year, eventually staying in the same position. The Dollar Index started at 98.63 this year and is now at 98.66, with many highs and lows in between. It was low for most of the year but returned to normal in October.

The best fiat currency is the Argentine peso, which has risen more than 50% since mid-December 2015 but has only risen 17.7% since the first day of the year.

This is normal behavior for the average fiat currency. Due to inflation and other factors, fiat currencies are expected to depreciate each year. The exception is when fiat currencies increase in value over a period of time.

Economist Say

According to The Economist, the only currency other than Bitcoin that was in the red last year was the real shekel, which was less than 1%. I prefer Bitcoin’s investment value model.

According to goldprice.org, 2016 has been a good year for both precious metals, unlike the last four years. Gold is now trading at $1,266 from $1,060 at the beginning of the year, up nearly 20%.

Silver rose 26.3% from $13.85 to $17.49, about half of what Bitcoin offered its owners in 2016. Another factor was that silver was sold for $3,540 in 2011, while gold was close to $1,800. They have a lot of lost value to recover, and that doesn’t conclude that it’s not a safe investment for the future.

Ethereum and Bitcoin have special advantages over the fiat world. It does not follow the whims of central bankers, governments that use them to finance past wars, or an economic mindset that sets aside debt for future generations.

At this point, Ethereum is being created in amounts that shouldn’t be expected of these annual returns in the long run. Still, it would be good for early adopters to speculate without falling into the DAO rabbit hole.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

Previous articleRipple Raises $55M From Banks
Next articleEthereum Classic Forges New Path
Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.