As we are walking in 2020, there are questions that have been bothering many traders and investors. Will the Cryptocurrency bubble burst anytime soon? Or will it be moving forward at a steady pace? Cryptocurrency holds many potential values that are yet to be discovered.
Whenever we are talking about the Cryptocurrencies, the first currency that comes to our mind is Bitcoin. After all, Bitcoin was the first decentralized cryptocurrency ever hit the market. It was the first application where the blockchain technology was used. Bitcoin use peer to peer network for the transaction. This helps then to omit the use of any kind of third-party tools and software. And with the blockchain technology involved, every Bitcoin transaction is safe and secure.
Since its first appearance, Cryptocurrency has seen steady growth. Today, the total market value of all the Cryptocurrencies is over $425 billion. Bitcoin hold more than one-third of the total value. The currency devaluation the Cryptocurrency is almost half than its golden year, but still, the traders think that Cryptocurrencies still hold a possibility of surpassing all kinds of assets in the near future.
Concerns related to Future of the Cryptocurrencies
There are traders that think the future of the Cryptocurrencies will depend on the performances of other Cryptocurrencies (other than Bitcoin and Ethereum). The future of the Cryptocurrencies can improve only if other Cryptocurrencies start performing well. Once that happens, Cryptocurrency will be one step closer to replace the traditional fiat currency.
Why Bitcoin Perform well than other Cryptocurrencies
When it comes down to which Cryptocurrency has more authority, then without any hesitation, most of the traders will say Bitcoin. Here are the reasons why.
- The reason why trader believes in Bitcoin more than other Cryptocurrencies is just that it was the first Crypto coin that ever hit the market. And since, it has been everyone’s favourite.
- As it was the first Cryptocurrency that ever hit the market, it has grown its network to a wider range of audiences.
These two are the advantages that Bitcoin holds over other Cryptocurrencies. However, it will be a matter of years, when other cryptocurrencies will come close to the bitcoins, or even surpass it.
Will Bitcoin Endure?
Since the start, the government was not in the favour of the Cryptocurrencies, as it is a highly volatile element and its regulation is not controlled by the central or state government. This had made the whole Cryptocurrency trade market hanging on the edge of the sword.
It has always been a concern, whether the government will accept a volatile and non-controllable currency. There have been talks with the government. There have been many discussions with the U.S. government, where they have expected the fact that Cryptocurrency hold many potentials that can be utilized for the betterment of the world. But it cannot be implemented in the mainstream as the regulation is not controlled by the Government.
As cryptocurrency is a decentralized currency, there have been many concerns about its uses. There are many people thinks that these currencies is made for illicit use only. This has tarnished the reputation of the Cryptocurrency to some extent.
Conclusion
The cryptocurrency market is a highly volatile market. Normal traders may not be interested in Cryptocurrency investment. However, if you are among the people who believe only high risk can reap your high profit, then Cryptocurrency is the best platform to do so. Today cryptocurrency has made a market for traders and investors.
If you are among the people who believe in “High risk, High Profit”, and wish to invest in the Cryptocurrency, then bitcoin superstar website can help you with your first profitable Cryptocurrency investment.