Ah, Bitcoin! During his early days, the only people who were interested in him were digitally-savvy, technological geeks who were attracted by the promise of decentralization of this cryptocurrency and its virtually focused design. Over time it became increasingly popular, and more people were interested in how to invest in bitcoin. As a result, the mainstream media in the world came together to announce to everyone that a single Bitcoin was somehow worth more than gold.
Then came commercial investors who were attracted by a great bitcoin value, making the price increasingly higher until, at its peak, this original crypto was valued at more than $ 19,800 (as of December 2017). But a few days after its maximum historical value, the price of commercial Bitcoin fell below $ 11,000, leading experienced operators and financial analysts to declare that the Bitcoin days were over.
During the last three months, there is current news of speculation about whether this encryption is just another financial flash or a valuable long-term investment. Many interesting pages spoke about multiple theories about his rapid fall; Some have stated that the cause is the sale of $ 400 million Bitcoin to pay creditors of a cryptocurrency exchange that is now a bankroll, Mt. Gox Exchange. There was even talk of a crash of the cryptocurrency that would negatively affect the annual gaming events, such as the World Series of Poker, since many professional players such as Daniel Negreanu are avid Bitcoin investors. However, all this speech twists the sense of bitcoin today, since Bitcoin never had the intention to be a means of investment.
Bitcoin in itself only emerged as a by-product of the creation of a pure and decentralized digital payment system by Satoshi Nakamoto in the late 2000s: the Blockchain. It was never intended to be a digital asset that would increase so dramatically in value. Instead, it was supposed to be a stable and predictable form of currency, so that buyers and sellers alike could use it to set prices for trade.
Even during its big fall, Bitcoin only decreased its value to the level it had in November – barely anything to worry about, unless you were part of the new wave of cryptocurrency investors. Bitcoin was a disappointment for commercial investors like these, who had little understanding of how technology actually worked, while its price kept rising. However, according to the breaking news, this fall will not have served well to ensure its future.
Yes, the trading volumes of Bitcoin have been consistently volatile, but it also has a fixed price equivalent. The latest bitcoin news says that this cryptocurrency continues to decline steadily in value since December 2017, and as more investors get scared, things are not likely to stabilize. Less investors equate to lower volatility, but this will also generate the return of the original Bitcoin target as a form of currency. With a lower price, we can expect to see more people using Bitcoin to pay for goods and services; merchants will adapt their payment systems so that they can receive forms of digital currency, and the cryptocurrency industry will move to a much more stable and useful era.
According to the latest news, fundamentally, this evolution will also make it easier to identify the true defects of Bitcoin. Instead of asking if it’s worth spending money buying Bitcoin, we’ll ask if there is another digital alternative that can make financial transactions cheaper and easier. That will be the moment that will really give us a better Bitcoin. When faced with the competition of thousands of alternative currencies of the market, it must satisfy demand and exceed expectations. The days of Bitcoin as a commercial commodity may be coming to a slow end, but its future as a viable and transformative currency method is just about to work.
Guest Author: Jamson Hadrian