Cryptocurrency price outlook 12 February 2020
All major cryptocurrencies are surging in 2020.
The New Year’s crypto price rise has continued into February with Bitcoin, Bitcoin Cash and LiteCoin, Ethereum and other alt-coins all rising strongly.
Uncertainty about the global world economy and even the coronavirus are feeding into recent crypto prices but there could be more to it than that. Scroll down this page to get an update on recent major crypto prices and a quick outlook for the future.
Bitcoin adds A$3,000 in January
The price of one Bitcoin has risen more than 30 per cent or AUD$3,000 in one month.
This chart, below, from Coinbase.com, shows the price of one Bitcoin today, 12 February is trading around $15,348.00.
Bitcoin Cash surges as halving imminent
Bitcoin Cash is up almost 80% in the last month. The BCH price is now around AUD$700, up more than $300 since mid-January 2020.
Bitcoin Cash miners face an imminent halving event in April 2020, where rewards for mining will be halved.
Other cryptos are also rising
Most major cryptocurrencies are rising fast at the moment. The price of Ethereum is up more than 70 per cent in the last four weeks.
Ethereum up 70% in one month
The above chart from Coinbase.com shows the Ethereum price is now trading at around 365 Australian dollars, up $146 since mid-January 2020.
XRP price is making waves
XRP (Ripple) has added 38 per cent in four weeks to 42 Australian cents, up 12 cents. XRP is the cryptocurrency coin token used by the Ripple cross-border payments network. XRP (Ripple) FAQs answered here.
Lumens enjoying a stellar run
Stellar Lumens, like Bitcoin and Ethereum, relies on blockchain networks but the user experience is said to be more like cash. Stellar is cheaper and more energy-efficient than Bitcoin and is enjoying a lucrative bull run in 2020.
The price of one Lumen is now about 11 Australian cents, up more than 4 cents (56%) over the price one month ago.
Find out more about Stellar Lumens at InfoChoice.com.au.