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There has been tremendous upward volatility in cryptocurrencies over the past month.

The largest blockchain based cryptocurrency, Bitcoin, is trading over $2,100 with a market cap over $35 billion.

Ripple, a cryptocurrency seeking to lower the cost and increase the speed of international fund transfers is up to a market capitalization of nearly $13 billion with a price of $.33.

Ripple has been trading places with Ethereum as the second largest cryptocurrency. As of writing, Ethereum is up to a market capitalization over $15 billion making it the second largest cryptocurrency by market capitalization. The price is over $165 per coin.

A variety of other coins like DASH and Litecoin have also risen considerably over the past month.

Purists will despise Ripple for its adoption by large banks but it has a clear use case and the archaic international money transfer technology that is currently used by banks is ripe for replacement.

I own some Bitcoin, DASH, Ripple and Ethereum. I’m considering reducing my exposure to Bitcoin and taking some profits.

I remain skeptical of Bitcoin and I’m long term bearish on the currently largest cryptocurrency.

I consider Bitcoin an almost a purely speculative play because of the non-trivial technological issues with Bitcoin: including slow transaction speed, lack of privacy and scalability problems.

I also think the fact that Bitcoin has no non-monetary use is a problem for reasons I’ve previously described.

I think now is closer to being a good time to sell cryptocurrencies rather than buy them. The various cryptocurrencies could of course go even higher. For someone interested in purchasing crypto, waiting for a pullback or at least dollar cost averaging could be a good approach.