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.
When you look at the performance of the cryptocurrency bitcoin in the past year, 2018 bear market, it still remained relatively strong in comparison to the other cryptocurrencies competing it in the market even in as much as it still was seen to have recorded such a loss in its value by up to 80% with the base index being the all time high that it hit in value in the previous 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.
As at the moment, the price of the bitcoin is at $4120, which tells of the fact that it has actually shed an average of about 60% of its value over the past 12 months as it has actually fell from a price of $9986 as of last year such a time. Indeed when it was introduced in the year 2009, this cryptocurrency bitcoin was actually received with lots of praise and was seen as a promising alternative payment option that would actually compete with VISA as a global payment option. Nevertheless, in the following years, bitcoin somehow became the subject of much media highlight and much focus was on the glaring shortcomings that it seemed to have such as the fact that it had such a limited network capacity and as well the fact that it had such transaction fees that went up to $40 were the subject of highlight in many media circles and discussions.
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. 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 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.