Lessons Learned from Years with Cryptocurrency

Lessons Learned from Years with Cryptocurrency

Bitcoin Trading and Bitcoin Price Prediction

If at all you are looking at the cryptocurrency world, the one thing that you need to know of is that the first of these that was ever released is the bitcoin and they as well happens to be the most widely accepted and used. Bitcoin was actually created with the sole intention of allowing users to transfer and store value with no need for the use of the intermediary bodies and institutions such as banks.

Looking at the past year’s trading season bitcoin has actually managed to remain relatively strong as compared to the other alternative cryptocurrencies even in as much as it still lost such a significant share of its value since its all time high recorded in 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.

At the same time last year, bitcoin sat at a price of $9986 and today it sits at $4120, showing the fact that it has actually lost up to 60% over the past 12 months. By and large, ever since it came to the market in the year 2009, bitcoin was actually received with much adulation and many saw in it an alternative that would compete with VISA as a cross-country payment option. However, in the years that followed, bitcoin went under so much scrutiny and much of the shortcomings that it had such as the limited network capacity and the rising transaction fees that went as high as $40 were the main object of media highlight.

But all this said and done, it still bounced back and responded to the criticisms in which there was done a network upgrade which was activated in August of the year 2017. By and large, such steps saw such an improvement in the capacity of the blockchain technology, augmenting its position against the other competing ones.

Looking at the Bitcoin in general and comparing its price falling in the past bear market run, you will see the fact that it lost far less as compared to the other cryptocurrencies out there. In actual sense, this is one of the very reasons that it gets to make as much sense for the experts to arrive at the conclusion that this is one of the types of the cryptocurrencies that would be ideal investing in as they have shown the ability to maintain their relative strength in the bear market going into the future as opposed to the others that lose so much in the value.

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