Insufficient Understanding of Cryptocurrencies Results in Their Volatility

Bitcoin made the news in May when it passed the all-time high of $2,700 per unit, before swallowing a sharp correction and losing almost 30 percent of its value in 48 hours. Along the way, many other cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple and Monero have followed Bitcoin in its correction David Z. Morris, a contributor to Fortune Magazine, explains:“Just look at how closely various cryptocurrency tokens' prices are tracking each other, regardless of their often very different realities on the ground. Bitcoin is the first and most basic form of cryptocurrency, with a lot of adoption and stability, but relatively few features. Ethereum is a robust ‘smart’ system that is already being widely adopted for building complex data-sharing applications. And Ripple is a mostly privately-held solution focused on interbank transfers. Yet the three tokens' charts for the last few months are remarkably similar.”.http://cointelegraph.us3.list-manage.com/track/click?u=2c088712615955cd2f82aa968&id=df8aa134ab&e=140f57b3eb