What has happened?Bitcoin sank to its lowest price in over a year in November 2018, Alcoins falling suit alongside it. Bitcoin or BTC is trading at $4,400 approximately.
Bitcoin’s collective market cap dropped below the $100 billion level for the first time since November last year, source: CEX).
Altcoins did not fare better.
All major cryptocurrencies are reporting declines in excess of 10 percent on the day, including ETH, XRP and bitcoin cash – Bitcoin Cash went for a contentious hard fork on Nov. 15. After the large-scale wealth disruption in the cryptocurrency space, many have started to question whether the asset class will survive or wither away. New York Stock Exchange (NYSE) chairman Jeffrey Sprecher is positive about the future of digital currencies, saying that their survival as an asset class is “unequivocal.”
Nonwithstanding the slump in Bitcoin prices, Nasdaq plans to launch Bitcoin futures trading by Q1 2019, reports Bloomberg. Entry of both these large exchanges shows that there is sufficient demand for Bitcoin trading even after the current decline. A report by the World Trade Organization (WTO) has projected that Blockchain technology can add $3 trillion to the international trade by 2030. The technology will help cut costs by removing barriers, increasing transparency and facilitating process automation.
Currently, Bitcoin is number one for everything. It remains the most traded crypto token in daily trade. Bitcoin is the largest market share of all cryptocurrencies and it holds still the highest value of any current token. Compared to some altcoins it has a proven track record. Whilst this is not true for most altcoins, there are a few that have not been on the market long enough to demonstrate long-term usability. Bitcoin is used regularly. That is also due to its retailer acceptance, something most Altcoins don't bother to push. The Blockchain technology is robust and intelligent. The blockchain that Bitcoin operates on is already 10 Years old. But because the platform is known and used, Bitcoin continues to flourish.
Positives of altcoins
All Altcoins are convenient pricewise to purchase than Bitcoin, that makes them a viable gateway to the world of crypto. A lot of the Altcoins are also cheaper to use for transactions as well. Many altcoins alleviate the time factors associated with Bitcoin, focusing on faster and smoother transactions. Altcoins tend to represent the future of c. There are many Altcoins that are very innovative and aim at bringing real-world solutions using digital currencies and platforms, at least that is what their Whitepapers are about. The real inmtegration is where many of the Altcoins fail. It still is easier to plan than to execute. Altcoins suffer from negative aspects as well and like Bitcoin, they are not immune to wild fluctuations in value.
So we have seen a golden opportunity for people willing to invest in Bitcoin / Altcoin, ETH can be had for 110 ish in US$, BTC can be purchased in below 4.5k US$ Prices where people should jump upon. Still the Twitter Bitcoin Community does not seem to be happy.
Or did we catch your attention?