The industry of cryptocurrencies has established their strong foothold in a short span of ten years. It has gradually turned itself into a billion-dollar industry where each coin is worth thousands of USD regardless of their brand. The market value of top cryptocurrencies is different and totally depends on the trading volume of the cryptocurrency.
Out of all the cryptocurrency, the number one cryptocurrency Bitcoin has the most trading volume rate and hence the best market capital in the industry. The current market capital of Bitcoin is $111 billion USD and a market value of $6,520 USD. But, these numbers were much higher during December 2017. The market capital of Bitcoin during December 2017 was around $330 billion USD which was its peak price ever. This sudden drop in the last six months has many investors scared to invest in Bitcoin.
Even though the price of Bitcoin has gone down the Bitcoin is still considered as the top cryptocurrency. The developers and authorities at Bitcoin are making sure that their users don’t face any loss by learning from their competitors and improving their technology according to the latest user demands. Here are some facts and data that will suggest to you that Bitcoin still remains the best cryptocurrency and above all the best source of investment in the world.
The market is a sensitive thing and it is prone to fluctuations as the users adjust to the technological changes that cryptocurrencies introduce. The fluctuations in the market happen because of the changes in the system introduced by Bitcoin. This change makes the system slow for a while that makes the user go select other cryptocurrencies to trade. Hence if you want to invest in Bitcoin you have to be ready for the fluctuations in the market for your own good.
The growth rate of the Bitcoin has been significant and really astounding during the mid-2017. This growth rate was significant from November 2017 to January 2018 where the Bitcoin was at its peak. This sustainable growth rate will be seen again in the future after the developers at Bitcoin find new innovative ways that can enhance the process of the transaction in the Bitcoin.
The Bitcoin is not renowned for its technological adoption, which has lead to several forks in the past. But Bitcoin has learned from their mistakes and have started to develop an open mind towards the technological adoption. They are making their transaction speed faster hence reducing the transaction time. You will see much more technological changes in Bitcoin in the coming time.
Why is Bitcoin getting all the heat?
It is tough to be the number one and it is much tougher to stay the number one. As you may have seen in your life, if you are good at something, there are many people who would love to criticize you for your mistake rather than appreciating your talent. This is the exact same case with Bitcoin. As it is the number one, mainstream media and other competitors are making extensive efforts to pull Bitcoin down. If you consider the fluctuations of other altcoins, they are much more devastating than Bitcoin and have also caused loss to their users.
Bitcoin, in a nutshell, is a safe module of payment transfer that is making maximum efforts to provide their user with the best service and preventing any loss of their users. There are many Online Bitcoin Exchange platforms still providing Bitcoin exchanges that believe in the growth of Bitcoin at some point in time.