Bitcoin Trading and Bitcoin Price Prediction
By and large, talking of the cryptocurrencies, bitcoin is known for being the first one ever released and as well the one that remains the most popular. The sole intention behind the creation of bitcoin was to allow its users to store and transfer value without the use of the intermediaries commonly known such as the banks and the other financial institutions.
Considering the performance and strength of the bitcoin in relation to the other competing cryptocurrencies in the market, you will notice the fact that it still remained relatively strong even though it still was seen to record a slip in the value, high as 80% of this, as compared to the all time high it recorded in the year 2017. Talking of the fall in the price of the bitcoin, you need to know of the fact that this cryptocurrency has actually shed as much as close to $16000.
The current price of bitcoin is at $4120 and this tells of the fact that it has lost about 60% of its value over the past 12 months, having fell from $9986, the price at which it sat at such a time the past year. As a matter of fact, bitcoin was actually introduced in the year 2009 and as at the time of its introduction then, was received with a lot of adulation and many saw in it an alternative payment option that would compete the VISA as a global payment alternative. Nonetheless, in the subsequent years bitcoin saw much in scrutiny and some of the shortcomings that it came with such as its limited network capacity and the high transaction fees that went as high as $40 were the subject of much media and coverage.
After these were done, the good news is that this didn’t mean the deathbed but instead they responded adequately to such areas of criticisms that saw them do a network upgrade, introducing the SegWit network upgrade, which was actually activated in the month of August in the year 2017. It is a fact that cannot be underrated that such steps actually went such a long way in improving the capacity of this particular blockchain technology and at the end of the day saw its position rise as well against their competing blockchain technologies.
Looking at the comparative aspects of the cryptocurrencies out there, Bitcoin has actually lost a lot lesser than the share that has been lost by the other alternative cryptocurrencies out there that may be so top in ranking. It is actually on these facts that experts generally see this as one of the cryptocurrencies that can be considered as the most stable and such that will be able to maintain their relative strength in the bear market even going forward as such an ideal crypto to invest in.