Why bitcoin has great potential
Bitcoin news recently here and there, after bitcoin coin suffered from a wonderful bullishness in December last year, it has been falling, and as it has been dragging the market. Since the bearish run has been going on for so long, it's easy to forget that bitcoin is probably the best long-term bet in all cryptocurrencies, so if you are frustrated by the recent performance of the asset, let me remind you that you shouldn't worry about it.
When the bitcoin token is eventually mined, the total number of coins will be 21 million. Satoshi hardwired this function into the bitcoin blockchain to assure that the limited number of coins prevents inflationary pressure from depressing the value of the currency, which seems that Satoshi is not only a good programmer, he also knows His monetary theory.
More than 4.2 million bitcoins are reserved for me, so it is not going to take too long to distribute all 21 million coins. Since then, scarcity will be a decisive factor in bitcoin price, and it can only drive its development.
Bitcoin is the original cryptocurrency in the world. Therefore, it has the much time to improve its technology, and the Bitcoin community has done very well. The Lightning Network is online and has the largest hash rate of any blockchain in the world.
In addition, the hashing difficulty in mining ensures that the security of the network is constantly improving. In nine years, the blockchain failed within 0.007% of the time, indicating that it has achieved incredible reliability.
The US Securities and Exchange Commission has officially talked about the status of Bitcoin, which claims it is real money. Although this is not an endorsement, there is no doubt that this is a good reason to forget all the doubts and distrust about Bitcoin.
Banks and financial institutions in New York, Switzerland, Berlin, London and other economic centers all over the world are studying ways to make Bitcoin integrate into traditional financial services, particularly wealth-related financial services, Storage and custodial services. When they finally make up their minds to enter the bitcoin market, they will create demand and reduce the circulation of coins for raising prices.
This is not the first bearish position of Bitcoin. There was a similar one four years ago, in 2014. If given some more time, Bitcoin will recover soon for certain. It will definitely improve again, it's just a matter of time.
Charlie Lee, a former Google software engineer who created litecoin cryptocurrency, made a suggestion to potential cryptocurrency investors around the world. Before you buy any replacement coins available in the encryption market, you should first make sure you have at least one bitcoin.
Don't loose heart. If your token has lost some value after your first purchase, as a matter of fact, you shouldn't worry too much about them, because they will recover sooner or later, and they may even surpass them. There is no way to tell when this will happen, but this is the history of bitcoin for nine years, and time has made it better, even better and better.